The lending agreement Solend has accumulated $6 million in bad debts after a significant drop in the price of SOL, which will be compensated by the Solend DAO treasury

2022-11-10 23:02:24

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ChainCatcher news, according to The Block, the lending protocol Solend on Solana has accumulated $6 million in bad debt after the price of Solana (SOL) plummeted significantly (about 50% drop in the past three days).

Solend stated that liquidations will continue gradually, and the Solend DAO treasury will cover the bad debt. Data from SolanaFM shows that the total asset value of the treasury address is approximately $33 million. (source link)

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