Solana whale moves $25M of USDC debt from Solend to Mango Markets

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Solana whale moves $25M of USDC debt from Solend to Mango Markets
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  • 📰 Cointelegraph
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The Solend team also noted that they are in touch with the whale to look for more long-term solutions to the liquidation issue.

that they are working with the whale and the Mango team to create a more long-term solution to the underlying problem.another governance vote that will significantly lower the account borrow limit that's currently at $120 million USD to $50 million. Debt above the new limit set will be subject to liquidation no matter what their collateral value is.

The protocol has also reduced the amount that can be liquidated within one transaction by lowering its maximum liquidation close factor to 1%. It also lowered the liquidation penalty for Solana from 5% to 2%. Both reductions are temporary and may change once the whale situation has been dealt with.

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