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Notice on SparkLend: BTC efficiency mode will be deprecated.
Spark will deprecate BTC efficiency mode on SparkLend as part of ongoing risk management.
The change is expected to take effect on June 4. Any positions borrowing cbBTC using LBTC or cbBTC as collateral that remain open after that point will be subject to forced liquidation on June 8.
If you have an open BTC efficiency mode position on SparkLend, please close it by June 7.
This notice applies to BTC efficiency mode only. All other SparkLend markets and positions are unaffected by this change.
BTC efficiency mode deprecation timeline:
June 4 — BTC efficiency mode deprecated
June 8 — Remaining positions liquidated
This notice is issued in advance to give all affected users time to act.