The people of Crypto City have been investigating Solana’s credibility since its first DDoS attack. Fast forward to this date, the top tier blockchain has been the victim of many congestion and troubles. At a recent event, Solana’s lending and lending protocol Soland. The initiative to take over the whale account has been questioned.
Whereas Protocol has withdrawn the offer and is now in touch with the account holder. Coinmarket supporters have up their sleeves to cross-check the matter and get the facts right. Sequentially, the findings are now calling into question the reliability of the network. Buckle-Up explores the inside and out of the case, as does this write-up.
Is there a risk of a massive downpour in Solana now?
From one of the updates covered by CoinPedia the other day. We are now aware of the fact that Soland has withdrawn its offer to take over the Whale account. In continuation of that, we now have more facts. Which aims to highlight the case surrounding Solana’s lending and lending protocol “Soland”.
crypto investors and analysts Miles Deutscher A Twitter thread highlights the hustle and bustle surrounding Soland. The proponent highlighted that despite the public’s response to SLND1, the proposal was seen 97.5% Vote in favor of it. He added that over 90% of the votes were issued by a single user. Partisans call this a fundamental flaw in the system, as voting power depends on the user’s DAO holdings.
The community is going through internal disputes, with the Lending Protocol calling for a new one to invalidate the old one. While the move is welcome, the DAO’s existence is questionable. The events around Soland continue to question the sole purpose of decentralization and the sole purpose of centralizing the network.
In short, after all the commotion, the team has confirmed that the whale account is now in contact with the team. And that the whale is now moving its fund. That said, business veterans are now pointing to Solana for its credibility. However, there has been little or no effect in the price of SOL. altcoin is currently trading 4.65% on high $37.2,