Events on the Solend platform could shake the industry. cryptocurrency It must have shaken and raised many questions about the decentralized nature of the entire DeFi industry.
The main reason Solend chose to take control of wallets that weren’t theirs was the potential massive liquidation and putting the entire network at risk, as Solana is known for its constant outages and network outages every time. with little workload
The distribution is as follows. Again, the Solend team did not vote in this proposal. pic.twitter.com/nmZ3eisLL0
To avoid such problems, Solend has launched a vote on the network. It offers to take control of the dealer’s wallet and force close the position immediately to avoid the risk if the SOL price goes down, and that’s when things start to look suspicious.
according to the information on the network A single user has basically voted more than 90% on the offer. The fate of $270 million of user funds is controlled by a single wallet. This goes against every principle of decentralization at the DeFi industry.
Subsequently, a new vote began with a proposal to repeal previous results and remove previous voter contributions. He also spoke on Discord, stating that he or she would rather sacrifice $120 million instead of putting the entire industry at risk.
However, the whole situation once again shows Solana’s issues with centralization that could jeopardize the network’s future and growth potential, with the biggest supporter SBF telling his Twitter followers the whole situation. that is not acceptable Even though he was slandered by investors that he did it for “Protect his wallet.”