rexnorde

There’s been an influx of disinformation targeting marginfi recently. Going to run through some callouts: What solblaze posted about us was objectively wrong and later corrected. I’m really disappointed in the people who shared that and the actions towards us from an ecosystem team we’ve been extremely supportive of. Seeing a lot of disinformation about liquidations as well right now, here’s some quick points on that. We were extremely explicit about the oracle changes we made to improve usability on marginfi during the severe congestion solana was having. This worked well! Lots of users could land transactions and oracle windows didn’t constrict using the platform. For anyone who missed our communication on this, oracles for assets are always visible on our ui. During recent volatility on solana, a lot of people were liquidated. Liquidations were successful on marginfi despite the congestion! An extremely small fraction of these users (0.5%) were liquidated during a period where oracle bands widened significantly. We understand this isn’t an ideal outcome, and we have an insurance fund for events like this. We’ll soon start refunding the few accounts under 10-20K completely, and will also compensate the single digit larger accounts who may have also been affected during this period. As communicated, the oracle changes we made during severe congestion were temporary and we’ve updated feeds to more stable solutions already. I’d like people to be aware that just because you read something online does not mean it’s true. We’re in an industry where we can verify, not trust. On-chain data is there for you. We have a lot coming, marginfi is just getting started. Massive love to the mrgn mamas, and stay tuned for what’s next.