The ParaSpace team is taking immediate action to get to the bottom of the unresolved platform interests. The team has called for a 3-party moderated meeting with Ruan and the multi-sig signatories allowing all participants to listen in via the Twitter Space platform. During the meeting, two key issues were identified needing to be addressed.

The first is the immediate steps being taken to address the underlying interest rate. The current multi-signatories have been asked to suspend the interest rate protocol as a borrower. ParaSpace is currently also looking into releasing the multi-sig to ensure all steps taken by the team were not with any attempts to gain control or possession of the platform. They clearly state that any other accusations or legal accusations are misguided.

The team is committed to the transfer of control from the ParaSpace team and any willing signatories from the Ruan side to community-elected signatories. The proposed plan includes one day for nominations followed by two days for voting.

ParaSpace released an update as to the current incident that happened in March. The team has stated it will work hard to find a solution and also appeal to Ruan to set the interests of users a priority to solve the situation. Making sure to have prior knowledge and research prior to investing has been encouraged by the team to protect users and their money.



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