Mars Protocol 🔴

Dear Amber users, All remaining user funds previously held in Amber have now been returned to user wallets. This marks the final step in the wind-down. The process is now fully complete.

Following Structured’s wind-down of maxBTC, Amber will begin coordinating an orderly unwind of its maxBTC strategy. No emergency action is required, but new Strategy deposits will no longer be accepted. The protocol will continue operating normally through March 23 while exposure is reduced. In parallel, Neutron’s Bitcoin Summer campaign will continue to distribute rewards until the 16th of March, when Phase 3 will end. There will be no Phase 4. To facilitate an orderly wind down of the protocol and protect user positions, we recommend the following courses of action: For Strategy users (aka Leverage Loopers): To bring the protocol’s net exposure to zero and enable the final sunsetting of the protocol, liquidation thresholds for MaxBTC Strategies will be gradually reduced between March 16th and 23rd. Neutron has waived the forfeiture condition for Strategy users. This means that leverage loopers can begin withdrawing positions at their convenience without losing accrued Phase 3 rewards. To avoid liquidations, we recommend unwinding leveraged positions before the 16th of March. Please be aware of slippage and available liquidity to avoid any unnecessary losses. For larger positions, consider gradually reducing leverage over a few days to minimize slippage and give the pools time to rebalance if needed. For lenders: Neutron will continue distributing rewards until the end of Phase 3. Withdrawing lent assets before the end of the phase would forfeit corresponding Bitcoin Summer rewards. We recommend maintaining lending positions until the 16th of March to ensure a smooth experience and maximum rewards. Our priority remains user protection and responsible risk management. We appreciate everyone who participated in the maxBTC strategy and will share further updates as the wind-down progresses. Our teams remain available via community channels to support users as they unwind positions. Structured's announcement: nitter.cf/StructuredFi/status/20…

Amber TVL Jumps 8× Overnight, uniBTC Dominates the Inflow! TVL on Amber jumped from its former $3.5–4M range to $32M+ today. Here’s a quick breakdown of what drove the spike. 🔻