Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: Triedboy on June 22, 2022, 02:27:38 AM
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A Solana whale nearly drained a liquidity pool, and it would have caused some major ripples—let’s dive in. Had the price of SOL continued to drop, and the $21 million in SOL collateralizing the loan gone into liquidation, Solend would have been left with almost no SOL. The project's co-founder suggested that the rush to buy up that much SOL for cheap could have crashed the $2.6 billion Solana network.
Early on Tuesday, the protocol announced that the whale borrower had moved $25 million worth of USDC debt to Mango Markets, another Solana-based lending protocol, thereby alleviating Solend of some of the burden and reducing the protocol’s risk.more info (https://decrypt.co/103489/solend-whale-108m-loan-nearly-crashed-solana)