WeMade CEO Jang Hyeon-guk said on 2: “WeMIX, which has been entrusted to Cocoa Finance as collateral, will not be liquidated by force.”
Previously, WeMade borrowed USD Coin (USDC) from Cocoa Finance with 35.8 million Wemix units worth $ 16 million as collateral. If the price of Wemix falls by around 40% or more, there are concerns about a forced liquidation.
In response to these concerns, CEO Jang Hyun-guk said at WeMade’s media meeting held online on the same day: “After thoroughly examining stability and scalability, we have proceeded with adequate scale. There is no chance. of accidents “. safe volume of distribution. If there is a problem, we can respond sufficiently, “he stressed.
He added: “Actually, $ 16 million is not a lot of money for WeMade. They will never go to the liquidation crisis.”
Reporter Doo-Hyun Hwang, BloomingBeat [email protected]
