Rooter, founder of Solend, an ecological lending protocol for Solana, tweeted that a giant whale (address starting with 3oSE) has SOL deposits worth $170 million and USDC+USDT debt positions worth $108 million on Solend, with a liquidation price of about $22.27 .
Its SOL deposits account for nearly 95% of Solend Main Pool, and USDC debt accounts for 86%. Rooter wants to repay the loan as soon as possible and is preparing for the worst. If Whale is liquidated, it will be partially liquidated up to 20% of the outstanding borrowings (about $21 million).
Most liquidators on Solend are bots using DEX liquidity, and such a large-scale sale on DEX may further reduce SOL prices and expose other accounts to liquidation. Solend has $20 million in treasury funds that can be used to help pay off bad debts, but in a worst-case scenario, it may not be enough.
Solend is currently actively trying to get the whale to repay its position. It is reported that Solend has temporarily disabled USDC, USDT and SOL borrowing in its Main Pool.