Is Solana Truly Decentralized? Solend’s Actions Sparks Debate

Is Solana Truly Decentralized? Solend’s Actions Sparks Debate


The Solana network has been growing in popularity among decentralized finance (DeFi) enthusiasts. The success of many projects on the platform has drawn developers to it and with the developers have come to the investors. With the market crash, many networks in the market have suffered due to declining prices, having to put in various measures to ensure longevity. The most recent happened on Solend, a Solana DeFi protocol, whose actions have drawn the ire of DeFi investors.

Threatening The Safety Of Decentralization

Last week, the price of SOL had trended to the mid $20s, eventually bottoming out at $26 before recovering. This has put a Solana DeFi protocol, Solend, in a perilous position due to the OTC trade of a single whale wallet. The

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