The protocol would have automatically liquidated up to 20% of the whale’s collateral if SOL hit $22.30, and potentially led to damage in the broader Solana ecosystem. A governance vote was floated by protocol developers to take control of the account and take adequate risk management steps.
Related posts
-
Spot Ether (ETH) Exchange-Traded Funds (ETFs) Are Likely to See Up to $5B of Net Inflows in First Six Months: Gemini
Net inflows into spot ether ETFs below $3 billion would be a disappointment given that bitcoin... -
Solana Trader Makes 307x Profit But Investors Raise The Alarm
Over the weekend, a crypto trader turned 70 SOL into $3 million with a Solana-based token.... -
Blackrock’s Bitcoin ETF Starts Trading in Chilean Stock Exchange
Last week, the Ishares Bitcoin Trust (IBIT) arrived at the Santiago Stock Exchange, the main financial...