Binance, the largest cryptocurrency exchange in the world, has told its customers to examine Kamino Finance for clarifications on failed transactions.
The exchange issued the clarification via its official portfolio account on X (formerly Twitter) following the growing complaints of the user meeting failed, to disappear the sales and blocked transactions while interacting with Kamino Finance via Binance Wallet.
In recent days, several users of Binance Wallet have raised concerns on social media concerning failed transactions when they engage with Kamino Finance, a decentralized protocol built on the Solana blockchain. Complaints range from the exchanges of unsuccessful tokens to liquidity transactions which seem to hang or fail without reimbursement or visible confirmations.
These reports prompted users to label the official Binance Wallet account in the hope of receiving technical support or intervention. However, Binance was quick to clarify his position.
Binance Wallet blame Kamino Finance
In a direct response to user complaints on April 29, Binance Wallet said: “Hello, the reason for screenshot is linked to the underlying DEX. The kmno token failure rate is relatively high. This problem must be resolved by the underlying Dex. “
Binance also mentioned in the declaration that they are in contact with the Kamino financing team, declaring: “We have communicated with the underlying DEX, and the other party confirmed the problem. We will continue to follow this problem and optimize it in the future. ”
Kamino Finance, a DEFI protocol based on Solana known to offer loans, a leverage and liquidity effect, has not yet publicly responded to the wave of user complaints on the claim of X or Binance according to which it is responsible for the current problems that afflict users who execute transactions with IT via Binance platform.
Kamino works outside the control of centralized platforms like Binance.
Community Split on Responsibility
The reactions within the cryptographic community have been divided. Some users have argued This binance is wrong, because it is not the success rate of Kamino Finance, but that the sales disappear after the failed transactions.
Another userUnder the initial position of which Binance shared one of the posts clarifying his position on customer challenges, said that the problem was not unique to Kamino financing transactions, declaring that “Aero also fails, so there is something that is not going with Aero's Dex, right?”
The user also pointed out that the response he obtained from Binance customer service was different from the Binance declaration published on X. According to the user, Binance customer service said: “Thank you for your patience while I learn your concerns. We sincerely apologize for any disadvantage that it can cause. Regarding price volatility, unfortunately, this is one of the risks you are confronted during the exchange of these products, it is a common situation in the space of cryptocurrency and you must take these factors into account when you have the development of your negotiation strategy.
Another user shared similar problems with Fartcoin while stressing that problems can be beyond Kamino Finance and more from the Binance trading platform.
While alpha merchants raise this current problem in Binance for resolution, the exchange continues to charge the fingers among the DEFI actors.
Some of the conversations between binance and customers have occurred in Chinese language and have been translated.
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