Solend users vote in favor of proposal to mitigate risk imposed by ‘whale’

Solend users vote in favor of proposal to mitigate risk imposed by ‘whale’ By michael40712627

The proposal to “mitigate risk from the whale” noted that the user in question had 95% of SOL deposits in the protocol’s main pool and had not been heard from in 12 days, among other points.

Users of Solend, a decentralized protocol for lending and borrowing on Solana, today voted overwhelmingly in favor of a proposal aimed at mitigating risk imposed by a specific user with a big margin position on Solend.to “mitigate risk from the whale” noted that the user in question had 95% of SOL deposits in the protocol’s main pool and had not been heard from in 12 days, among other points.

The proposal’s authors said they had been unable to get the whale to reduce the risk, so it was clear that action had to be taken, and hence the vote.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

TheBlock__ /  🏆 464. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin whale support lines up as trader says $14K 'most bearish' BTC price targetBTC price falls as U.S. dollar strength rises with Bitcoin whale buys now in focus as support.
Read more »

TikTok takes action amid new claims workers in China accessed US users’ dataAfter concerns arose that TikTok's Chinese ties could pose national security risks, the social media company moved its US user data to Oracle's cloud platform.
Read more »

DOGE Makes It to Top 10 List by Trading Volume: DetailsDogecoin trading volume has soared to get it on the top 10 list for BSC whales. WhaleStatsBSC
Read more »

Metro’s Blue, Yellow line construction will require detours this fallBlue and Yellow line construction will require significant detours this fall for transit users.
Read more »

WhatsApp rolls out new options to privacy control settingsWhatsApp's new options for privacy control settings are now rolling out to Android and iOS users.
Read more »

Adobe rolling out free version of PhotoshopAdobe said it has begun offering its free version of Photoshop to users in Canada.
Read more »