Posted 4/12/2024, 6:52:45 AM
MarginFi Crisis Deepens as CEO Resigns and Users Withdraw Over $214M Amid Criticism, Competition in Embattled Solana DeFi
- CEO of Solana DeFi protocol MarginFi, Edgar Pavlovsky, steps down due to disagreements
- After Pavlovsky's resignation, MarginFi sees over $214 million in withdrawals
- Competitor Solend seizes opportunity, offers airdrops to lure MarginFi users
- MarginFi criticized by SolBlaze for allegedly mismanaging tokens
- Events highlight risks, volatility in Solana DeFi amid growth in ecosystem
