Discover and read the best of Twitter Threads about #Solend

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#DeFi Weekly

TGIF! 🌳 What went down this week? Here's 5 headlines you can't miss!

1. Solend..decentralized?
2. Bancor Halts IL protection
3. dYdX Builds Chain on Cosmos
4. Solana Announces Web3 Smartphone
5. $100M Horizon Bridge Exploit

#WebTr3e #Crypto #Web3

a short 🧵👇
1. @solendprotocol approves whale wallet takeover:
cointelegraph.com/news/what-dece…

Doubts were raised over #Solend's decentralization. Read our thread on this matter! 👇
2. @Bancor Halts IL Protection:
cointelegraph.com/news/bancor-pa…

@Bancor, famously known for its IL (Impermanent Loss) protection feature, is under scrutiny as it halts this LP service due to "volatile markets".
Read 7 tweets
#CryptoBytes

What happened to @solendprotocol?

It is a decentralized lending platform on #Solana that has been facing community backlash after its recent actions that seem to go against the ethos of decentralization. A summary 🧵👇

#WebTr3e 🌳 #DeFi #Crypto #Solend
Just 2-3 weeks ago, $BTC’s poor price action led to a massive sell-off in major altcoins such as $ETH and $SOL, which reached lows of $881.56 and $25.86, respectively. This also led to on-chain liquidations at the $1K-$1.1K level, according to @parsec_finance.

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One prominent potential liquidation that stood out was a $108M $USDC debt on the #Solend platform where a user deposited 5.7M $SOL, worth $170M at the time, as collateral. The liquidation price of $22.27 was very close to the $SOL price then.

/2 Image
Read 19 tweets
🚨ALERTA🚨¿PODRIA COLAPSAR SOLANA?

¿Qué está pasando con Solana y su protocolo Solend, y toda la polémica que gira a su alrededor?

Abro hilo 🧵 1/
2/
Empecemos por el principio…

¿Qué es Solend?

#Solend es uno de los protocolos DeFi algorítmicos más importantes del mercado, utilizado para el lending y borrowing (“plataforma de préstamos”) en el ecosistema de #Solana ☀️
3/
El Lending y Borrowing (Préstamos), un sistema que ha demostrado ser clave en el mundo DeFi.

Y en el que Solend había logrado posicionarse por sus supuestas grandes ventajas, poder escalar hasta ser 100 veces más rápido y 100 veces más barato 🤔
Read 13 tweets
1/4 🧵
There's been a lot of fuss around the recent #Solend DAO vote, with lots of discussion about what a protocol should be able to change about its #Solana smart contract.
2/4
We think the more important question is: Who controls those changes? How can you be sure your funds won't just be taken by an authority or a DAO?
3/4
There are many different ways of managing your program upgrade authority, and they are all subject to a trade-off between decentralization, security and ease of upgrading.
Read 4 tweets

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