• By clicking "OK" or continuing to use this site, you agree that we may collect and use your personal data and set cookies to improve your experience and customise advertising. To see how, and to learn how to control cookies, please read our Privacy Policy and Cookie Policy.
OK
Advertisement

Sorry, there are currently no headlines for this topic.

About our Solend news

Latest news on Solend, a decentralized lending platform that is built on the Solana blockchain. The company recently tried to take control of one of its largest accounts, which they refer to as a 'whale' investor. This move was met with backlash from the community, and Solend's users have since voted to block the move.

The account in question had deposited 5.7 million sol tokens into Solend, which accounts for more than 95% of all deposits. This account was also borrowing $108 million in stablecoins USDC and ether. If the price of sol were to sink below $22.30, then 20% of the account's collateral, which is about $21 million, would be at risk of being liquidated.

Solend said that the measure would allow them to liquidate the whale's assets via 'over-the-counter' transactions, rather than on-exchange trades, in order to avoid a possible cascade of liquidations. However, this move led to a backlash on Twitter, with some questioning Solend's decentralisation.

This feed updates continuously 24/7 so check back regularly. Relevance is automatically assessed, so occasionally headlines not about Solend news might appear - if so please contact us regarding any persistent issues.


Publication filters

Headline Density

Sorry, no headlines or news topics were found. Please try different keywords.