The reason WHY this SINGLE WHALE was SINKING SOLANA: solend, and how we can save the DeFi ecosystem
0#solana #bearmarket #defi
Solana has struggled more than other blockchains during this last crisis, the reason lies in one whale that was controlling 95% of all the SOL deposited on Solend. The sharp fall of the price has brought the price near to the liquidation price sparking panic among the community.
Wallet at risk: https://twitter.com/0xrooter/status/1537108015836385280/photo/1
Tracking the wallet: https://solend.fi/dashboard?wallet=3oSE9CtGMQeAdtkm2U3ENhEpkFMfvrckJMA8QwVsuRbE
Solend proposal 3: https://blog.solend.fi/slnd3-introduce-account-borrow-limit-19030792eb8c
Solend proposal 1: https://blog.solend.fi/slnd1-mitigate-risk-from-whale-1504285ab4d2
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00.00 Solana, three major happenings
01:53 The first topic: the possibility of a downside
02:50 Why it is possible?
03:12 What is the point
04:02 What happened, advice
05:13 What happens, recap
05:50 What is the problem
06:19 Three proposals in order to avoid this kind of downside, the first proposal
06:43 The major concern, the major risk
07:31 A bad debt meaning
07:41 In order to avoid the bad debt
07:55 What is the problem
08:12 The reason why many people are believing into Defi
09:08 Anther proposal came out in order to invalidate the first one
09:24 Just to recapitulate the three proposals
10:22 What I really care about at this point
10:50 What we really need and what I personally think
12:43 About the Decentralization problem
15:27 For the future
15:44 Conclusion