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How will the FTX thunderstorm affect Solana and even the entire DeFi Lego?

Binance

Cryptocoins Exchanges / Binance 117 Views

Some of the difficult and potential issues dealing with FTX Thunder is that the wrapper Sollet token of the solana ecosystem, i.e. soBTC, is extensively utilized in lending and AMM platforms. The problem is that these tokens are issued by FTX (or Alameda, nobody actually knows).

That is very problematic as virtually all major DeFi platforms have soBTC belongings as collateral because it has lengthy been thought-about the de facto BTC within the Solana area. If soBTC proves to be worthless, it might exacerbate danger contagion on more dimensions.

submitted by /u/X-Metaverse
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