Initia said its Layer 1 network and Rollups are back online and operating normally, with bridge and trading platform transfer functions expected to resume later today. The update also outlined temporary withdrawal controls for selected assets. Withdrawals for LayerZero Omnichain Fungible Token, or OFT, assets WETH and AUSD0 will be processed with a 24-hour delay as a precaution. Noble USDC withdrawals will be subject to an hourly cap. Initia added that asset backing for AUSD0, USDC.n, and WETH has been fully restored. The notice was cited by ChainCatcher in a 7x24 news update.
Initia said its Layer 1 network and Rollups are back online and operating normally, according to a ChainCatcher newsflash.
The project said bridge and trading platform transfer functions are expected to resume later today.
As a precaution, withdrawals for LayerZero Omnichain Fungible Token (OFT) assets WETH and AUSD0 will be processed with a 24-hour delay. Noble USDC withdrawals will be subject to an hourly limit.
Initia also said asset backing for AUSD0, USDC.n, and WETH has been fully restored.
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