It's an unprecedented move in world of DeFi, which aims to recreate lending and other financial services without the involvement of intermediaries like banks.
If sol's price sank below $22.30, 20% of the account's collateral — about $21 million — is at risk of being liquidated, Solend said. Sol was trading at a price of $34.49 on Monday.
Solend said the measure would allow it to liquidate the whale's assets via "over-the-counter" transactions — as opposed to on-exchanges trades — to avoid a possible cascade of liquidations.The move led to a backlash on Twitter, with some questioning Solend's decentralization. One of DeFi's core tenets is that it's meant to do away with centralized institutions like banks.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Solana DeFi Platform Votes to Control Whale Account in Bid to Avoid Liquidation 'Chaos'Users of solana DeFi platform solendprotocol voted to 'grant emergency power to Solend Labs to temporarily take over' a large account on the cusp of liquidation. realDannyNelson reports
Leer más »
BIS Innovation Hub to create platform addressing collapse of stablecoins, DeFi lendersThe hub's Eurosystem Centre will open locations in Frankfurt and Paris and work with all 19 euro area central banks and the European Central Bank.
Leer más »
BIS to launch market intelligence platform amid stablecoin, DeFi collapseThe BIS highlighted the ease with which quantum computers can break the cryptography used by traditional financial institutions to secure and settle payments.
Leer más »
Defi Protocol Abracadabra's Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout – Altcoins Bitcoin NewsOn Saturday, June 18, the crypto stablecoin called magic internet money MIM briefly dropped to a low of $0.914 per unit.
Leer más »
After surgery, A’s right-hander begins long recovery: “It’s not going to be an easy road”MLB: Oakland A’s right-hander Daulton Jefferies, who had thoracic outlet surgery Monday in Dallas, is confident he’ll be ready for spring training
Leer más »
Celsius says it’s determined to find a resolution a week after halting withdrawalsThe crypto lending firm froze withdrawals and paused transfers between accounts on June 12, citing 'extreme market conditions.'
Leer más »