Coinspeaker
Solana-based Lending Protocol Marginfi Sees $214M Outflows

Solana-based crypto lending protocol Marginfi is undergoing some major turbulence with its creator Edgar Pavlovsky announcing his departure from the project on Wednesday, April 10, citing some internal disagreements. As a result, the outflows from Marginfi have skyrocketed to more than $214 million from one of the most popular DeFi protocols on Solana.

On the other hand, the total value locked on Marginfi has dropped to $514 million, in comparison to $734 million earlier this week and $811 million on April 1. In a strong-worded message on the X platform, Pavlovsky wrote:

“The lawyers are still working things out but I’ve told everyone involved I don’t really care about tokens, or money, or any of that. Let that be a clear statement of my intention here and of my principles. I’ve been running pretty red financially lately so this puts me pretty much back at $0, but if you’ve been in this industry for a while you know that’s nothing new.”

MarginFi also verified Pavlovsky’s departure, assuring that its products and operations remain unaffected. ...