Solana lending protocol MarginFi CEO resigns! TVL leaked nearly 200 million US dollars, Solend took the opportunity to suck blood

This site (120bTC.coM): The founder of MarginFi, the Solana lending agreement, suddenly announced his resignation, which led to the outflow of nearly 200 million US dollars from TVL. The crypto community seems to be more concerned about whether MarginFi will Will issue coins, and another lending agreement Solend took the opportunity to launch a TVL blood-sucking attack.

Full text of MarginFi CEO resignation letter

I resigned from all positions at MarginFi today, including the MarginFi project, research department, etc.

The MarginFi team is truly top-notch, there’s no doubt about it. But I don’t agree with the way things are done, both internally and externally. I've said it many times and I'll say it again: We are lucky to be able to choose the work we want to do every day. I have always adhered to a principle, which is to devote all my energy to work that I think is meaningful to society. That's what really drives me.

Lawyers are still working on the matter, but I have made it clear to everyone that I have no interest in tokens, money or other interests. This clearly states my intentions and principles.

My financial situation has not been ideal recently, and quitting my job has brought me almost back to square one. But if you've been in this industry for a while, you know it's not a big deal.

Currently I have no next plan, but as the founder of MarginFi, it is always my responsibility when this happens. As I have for many years, I will reflect and keep improving.

Long live the people, long live democracy, and long live the quality of life for everyone!

MarginFi TVL outflow of nearly 200 million US dollars

According to DefiLlama, Margin FiLending’s TVL fell to US$519 million from US$687 million on the 10th.

Previously, the liquid staking service SolBlaze had a dispute with MarginFi. The former accused MarginFi of operating maliciously and refusing to communicate, selling millions of BLZE tokens every day on the grounds of "fund management".

MarginFi’s TVL has lost $292 million since April 1.

MarginFi: All products are operating normally

MarginFi officially confirmed the resignation of CEO Edgar Pavlovsky and assured the community that core developers, teams, and investors are actively ensuring a smooth transition. .

The team acknowledged that Edgar Pavlovsky’s departure was due to internal operational differences and personal factors, but also thanked him for his efforts: all products will still be fully operational and unaffected. The advantage of DeFi is that core contributors leaving the protocol will still will work, we sincerely thank Edgar for his help along the way and wish him all the best, and finally, we would like to thank the community for their continued support.

Crypto community: Is the currency going to be issued?

Most communities don’t care about MarginFi’s internal problems. @Blackbull_xyz said: I guarantee you (MarginFi) that no one cares (founder people resign), if you issue coins, everyone will forget about today’s controversy.

Another lending agreement, Solend, took the opportunity to launch a TVL blood-sucking attack, claiming that if users transfer funds from MarginFi to Solend, they will receive airdrops.

Solend’s single-day TVL only increased by approximately 8% ($11 million).

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