The Solana lending protocol Solend faces bad debt risks due to network congestion

ChainCatcher message, the lending protocol Solend is experiencing slow liquidations due to congestion on the Solana network, resulting in a large number of positions not being liquidated in a timely manner. In the SOL loan pool, users owe the protocol $29.7 million USDC, while the SOL collateral is only $32.6 million. The LTV has reached 91.1%, exceeding the 85% liquidation threshold. The protocol must sell nearly $2 million worth of SOL collateral to bring the loans back below the liquidation threshold. (theblock)