After the recent news and the vote to end all votes and weeks upon weeks of chart pain, I’m getting a little shook. Anyone else feel like this vote is going to be a much bigger issue than it is being seen to be

You chose the correct noun. Drama.

The worry about the solend liquidation happening isn’t that it will tank the solana price, it’s that it will tank the solana network.

Okay it’s this simple. The whales funds is owned by a smart contact on solend. The funds will liquidate no matter what if sol hits a certain price, so what solend wants to do is upgrade the smart contract connected to the whales wallet so it sells OTC “if” it’s forced liquidated. Because there’s more liquidity by selling it OTC and it makes things easier. By Doing things this way it will save everyone else’s USDC etc on solend and not crash Sol any further.

Hope this helps =)

Just to clarify though, and in no way am I defending Solend, but as far as I understand, they are not looking to steal the entirety of the whales funds.

They want to hijack the account in order to do an OTC trade with some of the collateral, so that the account is moved to a safer liquidation level. They allegedly aren’t looking to OTC sell all the assets, although nothing would be stopping them once they have power over the account.