From here we have learned a lot about that. There's no decentralized procol and defi was not even exist these days. These are only centralized protocol that awas trying to fool people by spreading fake news about being truly decentralized protocol. People are feeling doubt about defi these days caused by so many cases were coming since the bearish trend has beens started just like lack of liquidity, bankrupt, got margin call, hacked and many more.
Cefi wasnot a safe place to hodl our money.
Topic: Solana survived the crash - page 3. (Read 360 times)
Solend a decentralized loan project build on solana network almost create what could have been another sad story in the development of crypto currencies but wisdom from solana government and voters safe the day. We could have had the same story of Luna in our hand if not decisions to stop whales from dumping. Good one from solana team.
It will recover but the bear market will continue. I don't say Solana will not reclaim $100 or $200 in next bull market but I think it will be wiser and better if you sell it in a peak of this recovery. And you can wait a bear market goes, you will have lower price to buy Solana.And you can hold it, back to your holding plan. I don't tell you that you should leave it forever, just temporarily exit and wait for discount to buy it back.
Solend a decentralized loan project build on solana network almost create what could have been another sad story in the development of crypto currencies but wisdom from solana government and voters safe the day. We could have had the same story of Luna in our hand if not decisions to stop whales from dumping. Good one from solana team.
Do you mean that proposal where all the Solana holders could vote if a huge whale basically gets taken away his funds because otherwise he would have the power to basically bring the whole project down if he would have decided to sell sometime in the future? If i remember correctly a overwhelming majority voted which is no surprise because it was good for the network as a whole. I still don't know though what happends to the funds of that big whale. I mean they can not just take it away from him right? If that would be the case then this would be extremely unfair and also a very bad message for everyone that is interested into crypto.
Solend a decentralized loan project build on solana network almost create what could have been another sad story in the development of crypto currencies but wisdom from solana government and voters safe the day. We could have had the same story of Luna in our hand if not decisions to stop whales from dumping. Good one from solana team.
Do you mean that proposal where all the Solana holders could vote if a huge whale basically gets taken away his funds because otherwise he would have the power to basically bring the whole project down if he would have decided to sell sometime in the future? If i remember correctly a overwhelming majority voted which is no surprise because it was good for the network as a whole. I still don't know though what happends to the funds of that big whale. I mean they can not just take it away from him right? If that would be the case then this would be extremely unfair and also a very bad message for everyone that is interested into crypto.
Solend a decentralized loan project build on solana network almost create what could have been another sad story in the development of crypto currencies but wisdom from solana government and voters safe the day. We could have had the same story of Luna in our hand if not decisions to stop whales from dumping. Good one from solana team.
Well, Solana was differ into LUNA anyway, SOL is very, very far from LUNA.
By the way, I had no doubt about SOL, in fact, I have few of it to hold in the long term actually.
And if you're gonna check for what happened to SOL is actually look cool according to this
source: https://decrypt.co/93375/solana-leads-recovery-crypto-crash
In the long run, the blockchain has proven to be a trustless technology that can work in the real world without a central authority. It has been tested and is getting stronger every day. No doubt it will all end on a decentralized network. Solana by design was not to be centralized. So if the government dumped big bucks they would have still survived and There is no one word to describe the crash today. In my opinion, The project is dependent on all parties involved. I hope this will be the paradigm for all crypto projects in the future.
I also had no doubt at SOLANA, this was one of the good choice to hold in the long term honestly speaking.
Aside from its decentralized network, SOL has also a features in terms of games where they had a strong community
at play2earn games as well.
It's awesome to see that Solana took a different approach and was able to get the best results for the community. It's understandable to say that since it was a decentralized platform, the whales have the right to do as they please. But that would be injurious to the community and the democratization of the process is a great strategy for the Eco system.
Humans will always be humans, the moment a project start having an issue they will stop following such project and start calling it names, it is normal to protect your funds but not all projects that have one or two issues at the beg of it's journey will end up in a trash bin.
As we know, not all projects will gonna fall once they reach the dead end because some of them have their own plan B as well when they didn't hit the road maps. Maybe Solana will gonna be different in the next months to come because they really need some serious development and updates to survive the tight competition in the crypto market nowadays. When the team behind it has all the aspects of true to their words, expect the project to prosper in the future after they developed and build their project.
Humans will always be humans, the moment a project start having an issue they will stop following such project and start calling it names, it is normal to protect your funds but not all projects that have one or two issues at the beg of it's journey will end up in a trash bin.
As we know, not all projects will gonna fall once they reach the dead end because some of them have their own plan B as well when they didn't hit the road maps. Maybe Solana will gonna be different in the next months to come because they really need some serious development and updates to survive the tight competition in the crypto market nowadays. When the team behind it has all the aspects of true to their words, expect the project to prosper in the future after they developed and build their project.
Solend a decentralized loan project build on solana network almost create what could have been another sad story in the development of crypto currencies but wisdom from solana government and voters safe the day. We could have had the same story of Luna in our hand if not decisions to stop whales from dumping. Good one from solana team.
I always look at Solana as a good project if not great. Developers have wisdom in implementing things and that is what lacking in Luna, Luna does not intend to stop whales instead they encourage them to dump when they increase the daily emission of Luna Token way back then.
solana's luck has run out for now. But no one knows that this will not happen in the coming days or periods. Because what and who has been ruined by money so that it will not destroy us. After this instructive luck, I think the solana team will no longer risk their chances by taking better steps. But I expect a sharp rise and a sharp fall from solana. I can't comment much after that because I'm looking forward to the next one too.
What are you trying to say? Can you explain further? Your reply is quite confusing and each sentence is contrasting with each other.
LUNA was different case. Luna was about the failed mechanism that already deployed by the developers unlike solana which aws only focusing into the blockchain development but luna was also creating a garbage stable token that scammed thousands of people in the world.
you can't compare luna with solana. Both were actually different case and you shall take a look at what the main concerns that have been making luna dumped until zero value.
Both were not the same and it's impossible to compare both.
you can't compare luna with solana. Both were actually different case and you shall take a look at what the main concerns that have been making luna dumped until zero value.
Both were not the same and it's impossible to compare both.
I wholely agree that Luna developer's previous action was like scamming people of their money through exponentially increasing the daily emission of Luna token and worst the hardfork making LUna Classic worthless.
What you are saying was not even matched with the fact that came from solend. It's just the matter of time until solana may face another huge dump when the next bearish trend will occur again anytime. I meant if you shall see how market is not yet recovered. Solana was not survived from the crash. So many times this coin is slowly going down due to the outages but the bearish trend was also creating another problem for its dapps. I think that you're too early to judge this is still survive during the bear market when the fact said the opposite thing
Humans will always be humans, the moment a project start having an issue they will stop following such project and start calling it names, it is normal to protect your funds but not all projects that have one or two issues at the beg of it's journey will end up in a trash bin.
solana's luck has run out for now. But no one knows that this will not happen in the coming days or periods. Because what and who has been ruined by money so that it will not destroy us. After this instructive luck, I think the solana team will no longer risk their chances by taking better steps. But I expect a sharp rise and a sharp fall from solana. I can't comment much after that because I'm looking forward to the next one too.
LUNA was different case. Luna was about the failed mechanism that already deployed by the developers unlike solana which aws only focusing into the blockchain development but luna was also creating a garbage stable token that scammed thousands of people in the world.
you can't compare luna with solana. Both were actually different case and you shall take a look at what the main concerns that have been making luna dumped until zero value.
Both were not the same and it's impossible to compare both.
you can't compare luna with solana. Both were actually different case and you shall take a look at what the main concerns that have been making luna dumped until zero value.
Both were not the same and it's impossible to compare both.
In the long run, the blockchain has proven to be a trustless technology that can work in the real world without a central authority. It has been tested and is getting stronger every day. No doubt it will all end on a decentralized network. Solana by design was not to be centralized. So if the government dumped big bucks they would have still survived and There is no one word to describe the crash today. In my opinion, The project is dependent on all parties involved. I hope this will be the paradigm for all crypto projects in the future.
I think you missed the point, they wouldn't survived if the whale with that huge $100 m loan will simply crash the market fo Solana. So there's no doubt about it, SOL will be liquidated and then it's price will go down very hard.
Another good read here: https://bitcointalksearch.org/topic/--5403421
So at least have BTC in our wallet, in case something catastrophic happen like this again, (first one is Luna).
https://decrypt.co/103489/solend-whale-108m-loan-nearly-crashed-solana
How a Solend Whale With a $108M Loan Nearly Crashed the Solana Network
A Solana whale nearly drained a liquidity pool, and it would have caused some major ripples—let’s dive in.
I did not understand how developers will solve problems with the limitation of deposits in a decentralized protocol. You can use multiple wallets, and all the risks are borne by the vault owners.
How a Solend Whale With a $108M Loan Nearly Crashed the Solana Network
A Solana whale nearly drained a liquidity pool, and it would have caused some major ripples—let’s dive in.
I did not understand how developers will solve problems with the limitation of deposits in a decentralized protocol. You can use multiple wallets, and all the risks are borne by the vault owners.
In the long run, the blockchain has proven to be a trustless technology that can work in the real world without a central authority. It has been tested and is getting stronger every day. No doubt it will all end on a decentralized network. Solana by design was not to be centralized. So if the government dumped big bucks they would have still survived and There is no one word to describe the crash today. In my opinion, The project is dependent on all parties involved. I hope this will be the paradigm for all crypto projects in the future.
Solend a decentralized loan project build on solana network almost create what could have been another sad story in the development of crypto currencies but wisdom from solana government and voters safe the day. We could have had the same story of Luna in our hand if not decisions to stop whales from dumping. Good one from solana team.
I think the people behind the project knows what gonna happen to them if they don't take any actions as the whales are going to manipulate the price and yeah, maybe pull the price to it's knees that it will go and crash and another sad story for crypto enthusiast.
Not to rub it in though, just shows how strong bitcoin's decentralization though as it can't be manipulated by anyone. But for sure their actions might not sit well with the very foundation that is crypto.
Solend a decentralized loan project build on solana network almost create what could have been another sad story in the development of crypto currencies but wisdom from solana government and voters safe the day. We could have had the same story of Luna in our hand if not decisions to stop whales from dumping. Good one from solana team.
They just lucky and some retailers are after the possible long position on the news. But the btc movement isnt good actually so they are still at risk. What I dont like is they can such do a counter on a decentralized force that whales brought in. If he wants to liquidated with a decentralized platform, it should be on his right to do it right?
Solend a decentralized loan project build on solana network almost create what could have been another sad story in the development of crypto currencies but wisdom from solana government and voters safe the day. We could have had the same story of Luna in our hand if not decisions to stop whales from dumping. Good one from solana team.
Jump to: