Solend SLND
+22.97%
At the same time, Solend’s token rose as much as 44% on Thursday before falling slightly to $1.57 at 2:45 PM ET. according to The Block’s pricing page.
“Seen a big increase in activity on Solend yesterday,” 0xRooter posted. Deposits into the DeFi lending and borrowing protocol on the Solana blockchain rose to $18.6 million on Thursday, the highest daily inflows since 2022. according to DefiLlama.
Over the past 24 hours, in what appears to be construed as retaliation, 0xRooter has made a number of disparaging comments about MarginFi as the Solana-based DeFi protocol was rocked by the departure of its founder amid internal disagreements.
“Last July, MarginFi tried to smear Solend with colleagues, which we discovered through backchannels. They spread untruths,” 0xRooter said Wednesday. “MarginFi was constantly bad-mouthing and engaging with farmers with discussions criticizing Solend.”
According to DefiLlamaMarginFi has seen a net outflow of $194 million following the resignation of creator Edgar Pavlovsky. The DeFi protocol Total escrow value also fell to $479.8 million, compared to $687.4 million on Tuesday and $811.1 million on April 1.
Pavlovsky publicly resigned, hours after the Solana liquid staking protocol SolBlaze Posted allegations, alleging that MarginFi had acted in bad faith by failing to distribute the tokens allocated to users according to SolBlaze’s depositor reward guidelines.
About the author
RT Watson is a senior reporter at The Block covering a wide range of topics including US-based companies, blockchain gaming and NFTs. Previously, he covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creative economy, while he mainly focused on technological disruption in the media. Previously, he reported on business, economic and political news in Brazil at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, workers, drug traffickers and convicted criminals. Obtained a master’s degree in digital sociology.
