The Solana lending protocol Solend faces bad debt risks due to network congestion

2022-11-09 21:20:23
Collection

ChainCatcher message, the lending protocol Solend is experiencing slow liquidations due to congestion on the Solana network, resulting in a large number of positions not being liquidated in a timely manner. In the SOL loan pool, users owe the protocol $29.7 million USDC, while the SOL collateral is only $32.6 million. The LTV has reached 91.1%, exceeding the 85% liquidation threshold. The protocol must sell nearly $2 million worth of SOL collateral to bring the loans back below the liquidation threshold. (theblock)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
ChainCatcher Building the Web3 world with innovators