- During an interview with a news website, Rooter (founder of Solend) revealed some details regarding what was going on behind the scenes of Solana Whale liquidation.
- Rooter said in this interview that folks who did not have anything to lose in this event, were the ones who came forward to speak.
- As of this writing, Solana was trading at the market price of 32.86, bullish by 0.96 during the past 24 hours.
Rooter Speaks On Solana Whale Liquidation Event
Rooter, the Solend founder, has given an interview to a news website where he talked regarding the Solana whale liquidation event, and revealed some information regarding what was going on sub rosa.
The DAO voting led to the conclusion that the whale’s crypto account should be controlled to liquidate its funds OTC.
But this decision was changed, and Solend is now able to do this in some other rational way.
During the interview with the news website, Rooter spoke regarding the pieces of hard work they did day and night, and being afraid regarding the failure of Solana while handling this Whale liquidation.
The discussion was made regarding taking over the crypto whale’s account, the encouragement, and how this scenario emerged in the first place.
Rooter also said that folk having nothing to lose came forward, and among the most vocal people in this event. The majority of these folks belonged to the DeFi community, who think that DAOs proposal is against the prime tenants of DeFi.
Rooter unveiled that the bots on the ecosystem were not designed to handle such a kind of decentralized exchange havoc Solana witnessed. While the conclusion made by the DAO might not be ideal, it is possible this is the only possible way for the DeFi protocol to take command over this issue.
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The Event Pushed The Holders Towards Bitgert
The Solana whale liquidation event was really unfortunate and summoned fear among the holders of the crypto. This major havoc proved to be fruitful for Bitgert, which is considered as the prominent rival of Solana.
As this article was being published, Solana was trading at the market price of 32.86, bullish by 0.96 during the past 24 hours.
Source: https://www.thecoinrepublic.com/2022/07/03/the-backstage-events-of-solana-whale-liquidation-unveiled-by-solend-founder/