Solend will now have to find a different solution, one that does not involve the appropriation of an account. There may be no regulatory recourse for any loss from such transactions. HODL & Earn A one stop investment center with a variety of products. The vote on the proposal ended shortly https://cryptomessiahtoken.com/where-to-buy-solend-coin-guide/ and with a striking 99.8% votes for “yes”, allowing the takeover. If you want to buy Kadena with fiat currency, you can first buy USDT on Kraken with fiat and then transfer your USDT to an exchange that lists Kadena. For example, the most popular exchange for trading with USDT is Binance.
- Hours later, the whale moved some of their funds to mitigate the risks.
- If SOL dropped to US$22.30, the wallet ran the risk of getting liquidated for up to 20% of its borrowing, or about US$21 million.
- Solend will now have to find a different solution, one that does not involve the appropriation of an account.
- This could be a problem for investors whose plans involve acting quickly, and constantly taking out various loans.
- Binance is one of the most popular cryptocurrency exchanges in the world, and handled $ 5.17M worth of Kadena trading volume in the last 24 hours.
There’s also an additional 5% set aside for a potential future raise in case it’s needed. Anchor is Solidity, web3.js, ethers.js, Truffle, and ganache all in one toolchain. Get started writing functional programs on Solana faster than ever.
Solend ($SLND) Price
You should conduct your own research, review, analyze and verify our content before relying on it. Trading is a highly risky activity that can lead to major losses; please, therefore, consult your financial advisor before making decisions. Solend attributed its unusual measure to the issue’s urgency and inability to contact the whale directly. At the current price of $6.83 and 100M max supply, the diluted market cap is $683,3M, which is 13,6 larger than the current market cap. The proposal comes mainly in response to the position of a Solend “whale” that has deposited SOL 5.7m onto Solend, or over 95% of the main pool’s deposits, and borrowed USD 108m worth of USD coin and tether . Solend has claimed that this “extremely large margin position” was getting close to a catastrophic on-chain liquidation.
Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold.
Digitalcoinprice.com needs to review the security of your connection before proceeding. Pressure on DeFi applications has only increased of late, and the mounting crisis of confidence has deeply impacted lending platforms, leading to the further collapse cryptocurrencies. The value of DeFi platforms, cryptocurrencies, and the market in general have tumbled heavily over the last two weeks.
Stock market performance
This could be a problem for investors whose plans involve acting quickly, and constantly taking out various loans. SLND3 was a ballot measure that proposed to reduce borrowing limits for all users. The proposal suggested that, in the future, there should be a borrower ceiling of $50 million.
how to make money selling paintings on etsy
This would hopefully prevent one borrower from being able to take up so many funds from a lending pool. The ballot passed on June 21, and the proposed limit went into effect. Though there was once again the issue of a single user deciding the vote, there was less public outcry because most people believed the new measure was a wise decision.
Solend has various “pools” of available crypto assets that operate with different currencies. For example, the Stable Pool lets you lend or borrow cryptos like USDC and USDT, while the Main Pool lets you work with all 20 of the crypto assets the platform currently supports. Solend’s lending protocol only works when users are depositing assets for others to borrow. If there are no crypto assets left in the pool, any future withdrawals or borrowing are impossible.