Solana defi is mostly frozen right now. All lending and other protocols are frozen, the only protocols working are DEXs. Sollet wrapped assets were issued and redeemed by FTX and they have nothing left to back those assets.
All of these lenders, dexes, etc. are going to have large bad debts hit them and users holding these tokens will end up with nothing. The total market value of all these Sollet Assets is over $1B. A major blow to Solana.
You can see all the Sollet assets and marketcaps here
Some of these Sollet assets were very widely used in the Solana ecosystem. Solana and FTXs/Alamedas connection could destroy tons of value on the chain.
SoBTC, SoEth, Sousdt, SoFTT, SoLINK, SoSushi are a few examples. This is important for people to see to protect their investments, we have had enough loss.
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