Solend backtracks on 'emergency power' proposal following community backlash

Solana-based decentralized finance protocol Solend backtracked on its initial proposal to take over a whale's wallet by allowing users to vote on whether it should proceed or find another solution. The post Solend backtracks on 'emergency power' proposal following community backlash appeared first on CryptoSlate.

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Members of the Solend ecosystem are now voting on a governance proposal dubbed SLND2, which aims to achieve three major objectives, including curbing the risk of automatic on-chain liquidation of collateralized assets during margin calls, according to a blog post…

Solend invalidates SOL Whale wallets takeover plan with its new governance vote so if Solend is unable to take over the account, some expect a possible meltdown and the SOL price reaching zero so let's read more today in our latest blockchain news. The Solana-based DEFI lending protocol Solend invalidates SOL whale wallets in a

 The folks from the digital market have been witnessing torrential shocks coming from all directions. While the tremors of the crisis are yet to subside. The news of Solana-based Solend taking control of a whale account has stunned the industry. The recent crash has left multiple projects and companies in ruins. And the makers of …

A pair of crypto analysts say one Ethereum (ETH) challenger is beginning to flash signs of strength despite the sustained bearish trend across the digital asset markets. Pseudonymous analyst Pentoshi tells his 576,200 Twitter followers that smart contract platform Solana (SOL) looks bullish as it continues to stay afloat despite last week's sharp correction. “SOL The post Two Crypto Analysts Bullish on Ethereum Competitor That's Showing ‘Incredible' Strength appeared first on The Daily Hodl.

Solana‘s price after a failed attempt to surpass $150, drained heavily to hit the lows below $30 during the recent market crash. However, the price has regained the levels above $30 but still remains under the captivity of the bears. On the other hand, a strong upward movement is expected to prevail and interestingly, SOL …

A new proposal put forward by Solana (SOL)-based borrowing and lending service Solend to disapprove the takeover of the protocol's largest account following huge backlash from the community has passed with an overwhelming majority of votes.

The broader crypto lending and the staking markets have been undergoing one of the worst crises in history amid a wave of liquidations recently. On Sunday, Solana-based “decentralized” lending platform Solend initiated an SNLD1 proposal to take over a whale account with emergency powers and avoid a cascade of possible liquidations.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Solana's [SOL] recent movements corresponded to the fear sentiment as it dipped below its south-looking EMA ribbons. While the altcoin invalidated the bullish tendencies and broke down from its falling wedge, the $28-mark support has

The team at Solend is concerned that a Solana whale might be liquidated, causing a cascade of liquidations that would hurt the platform's liquidity. The Solend team has attempted to contact the SOL whale to no avail.

Following a huge sell-off, the cryptocurrency market has been in dire conditions for the last month. Several cryptocurrencies have followed suit, with several losing double-digit [.