The unprecedented governance vote, Solend’s first, will grant Solend Labs “emergency powers” to liquidate the whale’s vulnerable assets (around $20 million in SOL) via over-the-counter (OTC) trades instead of decentralized exchanges – where decentralized finance (DeFi) liquidations usually occur – if the price of SOL drops too low.
Solana DeFi Platform Votes to Control Whale Account in Bid to Avoid Liquidation ‘Chaos’
