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Solana took temporary control of its largest whale account

Solana-based lending platform Solend has sparked outrage after taking Temporary control of the largest whales’ account to ease liquidation risks.

The new proposal, which the Solana Ecological Lending Protocol released, took over the authority of the giant whale account and increased the voting time of governance passed was passed with a support rate of 99.8%.

On Sunday, the crypto lending platform passed Governance vote “SLND2,” and “SLND1” was invalidated. The governance time has been increased from 6 hours to 1 day.

This proposal will grant Solend Labs emergency permission to temporarily take over Whale’s account so liquidation can be over-the-counter (OTC).

Previously, Solend founder Rooter urged one particular Whale to repay the loan as soon as possible to avoid liquidation risk. Solend has temporarily disabled borrowing from its main pool from $USDC, $USDT, and $SOL.