Solend approved a proposal to invalidate its whale wallet takeover plan to mitigate the risks surrounding the account.
the previously-approved proposal. The proposal ended with 1,480,264 votes in favor of disregarding the SLND1 proposal.
The new proposal invalidates the previous vote and will push Solend to find another solution that does not involve forcibly taking over an account. Additionally, it also increases the governance voting time to one day.The situation has put the crypto lending platform into a gruesome dilemma. If Solend succeeds at taking over the whale’s wallet and being granted emergency powers, it may save SOL from a DeFi implosion.
No matter what the team does, there is no way to change the fact that assets deposited into the platform can be confiscated by the team at any time. Escape from the platform is the best way out. At any time the team can tweet an announcement to forfeit your assets.
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