[Suilend Suspends IKA Borrowing, Deposit Balances Decrease by 6%]
On September 9, Sui ecosystem lending protocol Suilend announced the suspension of IKA borrowing due to the short-term surge in IKA's price to $0.47, followed by a drop. This led to the liquidation of some borrowing positions at overvalued prices, resulting in a $379,000 funding gap. As a result, each IKA depositor's balance will decrease by 6%. Previously, IKA's price had surged by 700% in a short period, with liquidation amounts reaching $2.2189 million within 24 hours.
