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tldr; Edgar Pavlovsky, founder of MarginFi, has resigned amid a controversy involving accusations of misconduct and misinformation within the Solana DeFi community, particularly between MarginFi, SolBlaze, and Solend. The dispute includes allegations of failing to replenish BLZE token emissions and spreading falsehoods about competitors. Pavlovsky cited disagreements with internal and external handling as his reason for leaving. Despite his departure, MarginFi assures that its operations remain unaffected and is committed to decentralization. The platform has experienced over $150 million in withdrawals following the controversy. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Decentralized finance lending platforms MarginFi, SolBlaze, and Solend have found themselves embroiled in a heated dispute, with accusations of misconduct and misinformation being leveled by all sides. The controversy stems from MarginFi’s alleged failure to replenish BLZE token emissions for its users over an 8-day period, which MarginFi attributes to blockchain congestion and prioritizing user safety. MacBrennan, co-founder of the MRGN group, claims it has consistently paid out more than the required guidelines to BLZE lenders and borrowers, with the excess coming out of the team’s personal funds. MacBrennan also claims that the tweet accusing MarginFi of failing to replenish BLZE for three weeks is “completely wrong” and that he was only reached out to for comment at 4:46 am on the day the “hit piece” was published. The situation escalated as Rooter, founder of Solana DeFi protocol Solend, shared the backstory of its conflict with MarginFi. Per Rooter, MarginFi allegedly attempted to blackball Solend with peers, spreading falsehoods about Solend’s total value locked (TVL) and attacking its oracle configuration. Rooter claims that MarginFi constantly criticized Solend to farm engagement on social media, justifying their actions by alluding to a “fabled 20-page risk report” that has never been made public.
If you're looking for airdrops on Solana, check out MarginFi and Kamino, both lending protocols. They're both said to have a huge likelihood for an airdrop. There are also Drift Protocol and Zeta Markets, decentralised trading platforms, with a possibility of an airdrop as well. As of right now, you can also just stake SOL to bSOL (SolBlaze), which still actively gives out BLZE token every week or two (roughly 0.3% of staked value/month, I think).
I'll say it is a stupid decision. Well, depends on how well-versed are you with blockchains. But, much better thing would be to withdraw that SOL to a wallet, and stake it there. Depends on the validator, you could stake it to bSOL (Blaze), and get 10%+ APY on your SOL (6% staking rewards and the remaining in BLZE tokens, which you can always just swap back to bSOL via Jupiter.