Solend users voted to "grant Solend Labs ‘emergency power’ to temporarily take over the whale's account."

User’s of Solana-based lending and borrowing services platform votes to take out the protocol’s largest whale account with the extremely large position which getting close to the dangerous on-liquidation collapse.

According to the ‘Emergency power’ Solend protocol can access the whale's wallet and liquidate its asset of $20 million in SOL via over-the-counter (OTC) trades.

Solend said if the liquidation of the whale’s position occurred on-chain, this can cause chaos In the Solana DeFi market, liquidation of the positions in OTC can prevent this.

The whale has parked 5.7 million SOL (95% of the pool’s deposit) in solend platform and borrowed $108 million against it.

SOL is currently trading around $35.6, If the price hits $22.30, the whale will be liable for around $20 million.

Answer this: Solend can now control the whale’s wallet, do you think Solend will be a truly decentralized protocol after this?

Crypto Market Price Update

2022 so far has been very difficult for the crypto market where the total crypto market plunges around 75% from its all-time high.

Can we expect a recovery in the upcoming months?

Well as per the technical analysis if the Bitcoin stays above $20k and regains the $24k zone, we can expect the bitcoin price to trade at $30k in the coming months.

And whereas Ethereum the second-largest crypto needs to stay above $930 for a bullish rally towards the $1400 area.

Crypto market back to it’s All time High can be seen in 2023 December - Experts

Best Project To Invest In Presale?

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The platform is promising to take the $GAMEIN token 72x higher from it’s listing price. The presale offer price of the token is $0.0027 and will be listed at $0.015. Expecting the price to surge to $0.5 by the Q4 of 2022.

This will be your best investment in Web3 a booming space in crypto.