Solana lender Solend’s tokens and deposits soared after its founder toppled rival MarginFi.
Solend 
SLND
+22.03%
At the same time, Solend’s token is down slightly, at $1.57 as of 2:45 PM ET, after rising as much as 44% on Thursday. According to The Block’s pricing page.
“There was a significant surge in activity in Solend yesterday.” Posted by 0xRooter. DeFi protocol deposits for Solana blockchain lending rose to $18.6 million on Thursday, marking the highest daily inflow since 2022, according to DefiLlama.
Over the past 24 hours, 0xRooter has made disparaging comments that appear to be framed as retaliation against MarginFi after the Solana-based DeFi protocol was rocked by the departure of its founder amid internal disagreements.
“Last July, MarginFi tried to blackball Solend with their colleagues and we found out about it through back channels. They spread lies.”, 0xRooter said on wednesday. “MarginFi continually abuses and engages in threads criticizing Solend.”
According to Dipilama, MarginFi recorded a net outflow worth $194 million due to the resignation of creator Edgar Pavlovsky. of DeFi protocols Total value locked also decreased to $479.8 million compared to $687.4 million on Tuesday and $811.1 million on April 1.
Pavlovsky publicly resigned hours after Solana liquid staking protocol SolBlaze. Posted It alleges that MarginFi acted in bad faith by failing to distribute tokens allocated to users in accordance with SolBlaze’s depositor compensation guidelines.
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About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal, writing about Disney, Netflix, Warner Bros. and the creator economy, focusing primarily on technological disruption across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.
