TechFlow News, June 19 — Solana-based lending project Solend announced that its largest user holds an extremely large leveraged position, having collateralized 5.7 million SOL and borrowed $108 million in USDC and USDT, putting the Solend protocol and its users at risk. Despite the team's efforts, they have been unable to get the whale to reduce their risk exposure or even establish contact with them.
As a result, the team has proposed a measure to impose special margin requirements on large whales whose borrowings exceed 20% of the total borrowing volume. Additionally, the proposal grants Solend Labs emergency authority to temporarily take over a whale's account to execute off-market liquidations.
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