Solana-based DeFi protocol MarginFi saw hundreds of millions in outflows after its CEO rage-quit amid growing controversies and accusations of failed promises.
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
Like Ethereum’s peak era in 2017, Solana is facing a similar hurdle in network congestion that has lasted almost a week, leading to a high transaction failure rate.
Solana developers have now set April 15 as their target date to resolve the issue, calling it a bug rather than a design flaw.
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Source: https://cointelegraph.com/news/binance-labs-focus-bitcoin-defi-marginfi-200-m-outflows-finance-redefined