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Solend is a decentralized lending and borrowing protocol built on Solana. It is lauded for expanding the methods available for Solana users to boost financial gains. Filling a large gap in the Solana ecosystem, Solend drew a staggering $100 million in deposits in just over a month post-launch.Related: DeFi lending
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The protocol would have automatically liquidated up to 20% of the whale’s collateral if SOL hit $22.30, and potentially led to damage in the broader Solana ecosystem. A governance vote was floated by protocol developers to take control of the account and take adequate risk management steps. Original Source
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Solend, a Solana-based borrowing and lending platform, will go back to the ballot box in a flash vote on whether to go ahead with Sunday’s proposal to take control of the platform’s largest account. The Solana DeFi Protocol’s largest account is a $100 million+ whale’s account on the verge of
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Solana DeFi protocol Solend has passed a governance vote that will see voting times increased to one day. Original Source
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On Sunday, the decentralized finance (DeFi) sector came under scrutiny again after DeFi protocol Solend put together a spur-of-the-moment governance proposal related to one of the whale wallets at risk of liquidation. The proposal, dubbed “SLND1 : Mitigate Risk From Whale,” was abruptly launched on Sunday without announcement and the vote
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