EddieJayonCrypto
11 Apr 24
Following CEO Edgar Pavlovsky's resignation, Marginfi experienced a sharp 25% decline in its Total Value Locked, prompting a withdrawal frenzy of nearly $100 million and revealing internal strife within the platform. Despite Marginfi's assurance that its services would remain operational, the depart...
Following CEO Edgar Pavlovsky's resignation, Marginfi experienced a sharp 25% decline in its Total Value Locked, prompting a withdrawal frenzy of nearly $100 million and revealing internal strife within the platform. Despite Marginfi's assurance that its services would remain operational, the departure of the CEO led to eroding trust and intensified competition within the Solana DeFi ecosystem, with competitors seizing the opportunity to attract disenchanted users. Furthermore, the broader Solana network is facing turmoil, with ongoing covert conflicts among major entities potentially impacting user transactions and platform reliability.
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