Liquid Network to Gradually Resume BTC and LBTC Redemption, Network Recovery Enters Final Stage

On October 20, Liquid Network officially announced its phased recovery progress, stating that network restoration has entered the final stage, focusing on strengthening security mechanisms, conducting independent audits, and gradually restoring pegged asset redemption functionality.

In terms of functional recovery, the network will first gradually enable semi-automated BTC and LBTC exchange services in coordination with participating exchange service providers; this service itself will not impose protocol-level trading volume limits. In the next phase, Liquid Network will restore 1:1 Bitcoin reserve backing for the network, and subsequently gradually reopen Federation redemption functionality to authorized PAK key holders. However, the complete restoration of related functionalities remains contingent upon the completion of remaining security checks and operational requirements.