DeFi applications use smart contracts to provide financial services, such as trading, lending, and borrowing, to users. Concerns loomed among traders and developers after the exploit. “If nobody backs it and the coins are truly gone then Wormhole ETH is worth 0,” George Harrap, founder of Solana DeFi platform Step Finance, said in an interview with CoinDesk. “Everyone who has a balance of it becomes worthless, DeFi protocols, users, everyone.”
Related posts
-
Solana Developer Shares “Big News” That Could Send The SOL Price Flying
Mert Mumtaz, CEO of Solana’s development platform Helius Labs, recently shared “big news” that presents a... -
SOL, LTC see inflows as investors pull $630M from Bitcoin ETPs
Solana, Polygon and Litecoin are some altcoins that attracted institutional investors this past week, despite the... -
Bearish Wave Hits Solana: SOL Drops Below $140 – More Losses On The Horizon?
Solana, a leading blockchain platform, is experiencing a significant downturn as a persistent bearish wave sweeps...