Which whale please
a whale has a massive position of $170M SOL deposited and $108M stables borrowed. they're currently 95% of the SOL deposits and 86% of USDC borrows
I don't understand exactly, is the concern if the loan gets liquidated and collateral sold?
That’s specific to the Solend platform.
I think they plan to raise the collateral requirements to 35% for anyone with a 20% lending pool stake or higher to reduce risk of bad debt situation. Would most likely result in a partial liquidation event. The platform wants to do it in a small increment to prevent excessive impact on the platform. Probably will be a blip on the radar at worst. I personally would not have supported the proposal. They should just leave the whale to manage their own position and should not try to take round about moves to change the rules of the game. I guess they should have thought about this risk when defining the platform rules up front like a cap on lending or borrowing amounts beyond what the Solend platform can sustain.
Oh bad ..but SOL will recover fast. This is why I am staking more SOL with my atomic wallet now
Would be more than happy to be your selected validator as Ubik Capital ☺️ Have a great week everyone!
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