Solend Users Vote For “Forced Takeover” Amidst Whale Liquidation Crisis

After voting for a “forced takeover” for a whale account, Solend users have revisited the ballots to decide that Sunday's “Emergency Powers” plan must be invalidated.  Extreme Measures - “Whale” Account Takeover The crypto market downturn is causing ripples throughout the industry, causing many DeFi protocols to take drastic measures to protect liquidity.

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The Solana DEFI platform Solend voted to control whale accounts and the users granted emergency powers to Solend Labs to take over the whale account temporarily so let's read more today in our latest Solana news. The users of the Solana-based lending service Solend voted on Sunday to force a takeover of the protocol's biggest

Last week, the crypto market cap dipped below $850 billion for the first time in almost 18 months. However, the recent jump in digital assets like Solana, Cardano, and Polkadot has pushed the total market cap of cryptocurrencies to above $900 billion.

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.

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.