Solana


Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. It is a layer 1 network that offers fast speeds and affordable costs. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

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by COINS NEWS - 2 years ago

The $320m Wormhole hack was "replenished" by Jump Capital, an institutional trading desk/market maker (similar to Citadel) without any questions. This shows the entire Solana ecosystem is just a sham propped up by institutional entities

Yesterday, the Wormhole bridge one of Solana's biggest bridges lost $320m in a hack. Within hours, a trading desk Jump Capital agreed to replenish the entire amount so that the liquidations calamity is avoided. The loss of the peg due to th...