Solend invalidates Solana whale wallet takeover plan with second governance vote

2022.06.20 12:51

Solend invalidates Solana whale wallet takeover plan with second governance vote

Solana-based decentralized finance (DeFi) lending protocol Solend has created another governance vote to invalidate the recently-approved proposal that gives Solend Labs “emergency powers” to access a whale’s wallet to avoid liquidation.

On Sunday, the crypto lending platform launched a governance vote titled “SLND1 : Mitigate Risk From Whale.” This allows Solend to reduce the risk that the whale’s liquidation poses to the market by letting the lending platform access the whale’s wallet and letting the liquidations happen over-the-counter (OTC).

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