Key Points:
Read more: Marginfi Review: Solana’s Unique Asset Diversification Lending Platform
This surge in MarginFi net outflows coincided with a notable drop of over 18% in the protocol’s Total Value Locked (TVL) within the past 24 hours.
The departure of MarginFi founder Edgar added to the turbulence within the protocol. Edgar announced his resignation following disputes with users over SolBlaze accusations and airdrops, contributing to the sharp increase in net outflows.
Read more: Top 6 Solana Native Projects By Category
Despite Edgar’s exit, the protocol’s core contributors, the team, and investors assured the community of a seamless transition. They reaffirmed their commitment to MarginFi’s mission of building a decentralized source of yield that is accessible to all.
The MarginFi team expressed gratitude to Edgar for his contributions and extended appreciation to employees, partners, and the community for their ongoing support. They reiterated their dedication to advancing the MarginFi protocol and announced that the MRGN development team will continue to work towards full decentralization.
MarginFi distinguishes itself from competitors in the borrowing and lending market by being a “fully permissionless” protocol, allowing users to utilize its services without needing prior approval while maintaining robust risk management measures and payment processing capabilities.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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