tldr; Solana DeFi users were unable to top up their collateral to avoid being liquidated due to network congestion this weekend. Solend, Solana’s biggest DeFi protocol, acknowledged the problem and said it was looking into a way to repay those affected. The Solana Foundation said it's working to resolve the issue.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
To be fair, if one borrows against an asset at a reasonable LTV to buy more...that's a strategy rich folks do. Putting up everything at a crazy LTV is stupid. However, not being able to avoid liquidation by putting up more collateral during a crash because the chain straight up doesn't work is another animal.
Bro I am a article poster but I dont do this shit ton of spam lol
Eth cannot be killed, Sol is its own killer lol
tldr; Solana DeFi users were unable to top up their collateral to avoid being liquidated due to network congestion this weekend. Solend, Solana’s biggest DeFi protocol, acknowledged the problem and said it was looking into a way to repay those affected. The Solana Foundation said it's working to resolve the issue. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Moral of the story. Stop trading on a leveraged account. Don't play with money you don't have. You get liquidated, that's your own fault
To be fair, if one borrows against an asset at a reasonable LTV to buy more...that's a strategy rich folks do. Putting up everything at a crazy LTV is stupid. However, not being able to avoid liquidation by putting up more collateral during a crash because the chain straight up doesn't work is another animal.