Sunsetting and Off-Boarding Sollet Wrapped ETH -- APRIL 20TH

:rotating_light: Attention Jet Community :rotating_light:

Sollet is sunsetting their support of wrapped ETH and other ERC-20 tokens

This impacts Jet Protocol as it currently supports Sollet-wrapped tokens (both BTC and ETH) as collateral.

Read here —> Sunsetting Sollet Wrapped ETH - Jet Association 1.0.0

Given the time-sensitivity, and importance of the Sollet news, Sollet-wrapped ETH will be removed as a collateral type from on Wednesday April 20th, 2022.

After this date you will no longer be able to deposit Sollet wrapped ETH into Jet Protocol.

During the period between now and April 20th, we ask that all users of Jet Protocol immediately unwind any loans they’ve taken against their ETH, in addition to withdrawing any deposited ETH.

We anticipate having a community vote on other wrapped ETH assets as soon as possible through governance. Due to the time sensitivity and degree of importance of off-boarding Sollet wrapped ETH there will be a time gap between Jet Protocol supporting any other wrapped ETH collateral types in the meantime

Important Next Steps :mega:

:arrow_forward: Close out any ETH-backed loans on the Jet App
:arrow_forward: Withdraw ETH from the protocol
:arrow_forward: Consult the link below to learn how to make sure you unwrap your Sollet wrapped ETH in a timely manner
:arrow_forward: You are encouraged to take these steps before Wed. April 20th

Please read more about Sollet’s sunsetting of their wrapped ETH asset and how to redeem for the underlying assets here :point_down:

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