Edgar Pavlonsky the founder of MarginFi stated on X.com that he does not agree with the way things have been done internally or externally. Pavlovsky added that his departure is ultimately his failure as a founder.
MarginFi confirmed Pavlosky's exit noting that operations are not affected. The Solana-based lender saw outflows worth $160 million since the announcement. A further decline in TVL which currently sits at $510 million compared to $811 million at the beginning of this month.
The resignation came a few hours after SolBlaze shared a detailed thread accusing MarginFi of acting in bad faith by not distributing token rewards to users and dumping airdropped tokens meant for governance participation.
SolBlaze later added that MarginFi acknowledged not distributing emission allocations for 8 days. MarginFi said it will refund affected users that it missed.