Solana don introduce marginfi for DeFi tension and outflows
MarginFi, one lending protocol wey dey for Solana blockchain, experience a big outflow of $250 million because of wahala wey dey between Solend and SolBlaze about BLZE tokens and network congestion. Dis one make MarginFi total value wey dem lock (TVL) drop seriously, from $910 million to $660 million. As di controversy dey happen, Edgar Pavlovsky, wey be MarginFi CEO, resign. To strengthen im DeFi ecosystem, Solana introduce marginfi, one new liquidity layer wey dey meant to improve DeFi performance. Dem announce am on May 16, 2024, marginfi dey offer real native yield, off-chain data plug-ins, and embedded risk systems, wey dey aim to expand im liquidity network with flash loans and stableswap features. Dem support am with $8 million investments, and im get products like mrgnlend, YBX, and mrgnswap, wey dey provide integrated yield opportunities for Solana.
Neutral
As MarginFi get big outflows wey CEO don resign show say dem get internal wahala and small setbacks, di launch of marginfi dey represent strategic effort by Solana to make di DeFi ecosystem strong. Di introduction of marginfi products and services fit attract new developers and users, wey fit help stabilize di market for long term. But, as wey we see di mixed impacts of di outflows and new initiatives, di market outlook dey neutral.