In a notable act of solidarity, Synthetix founder Kain has unlocked $6.5 million from an Illuvium vesting contract and directed $86,000 to SynthaMan, the protocol’s former treasurer, who faced liquidation during the recent crypto market plunge. This information surfaced from blockchain investigator EmberCN, who shared the details on X.

Furthermore, SynthaMan has garnered approximately $112,000 in donations over the past two days following his revelation of losing all his SNX holdings “due to liquidation” and being left with “nothing.”

“Some folks asked for a donation wallet,” SynthaMan wrote on X. “If you are willing to donate or lend me some money until my ILV unlocks in September, you can send it to Spartan.eth. Otherwise, I won’t even ask you for that. Just need to survive 1.5 months.” ILV refers to the cryptocurrency Illuvium.

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Etherscan records confirm that a wallet identified as belonging to project founder Kain transferred tokens to the Spartan.eth address.

“@kaiynne unstaked his ILV and sent some to me,” SynthaMan wrote on X after the initial story broke. “At no point did he use the ‘Project’s Treasury’.”

Synthetix operates as a decentralized finance (DeFi) protocol, providing liquidity for derivatives platforms across the DeFi market. The protocol’s total value locked (TVL) has decreased to $237 million, a significant drop from March’s total of $1.02 billion, as reported by DefiLlama. The company’s treasury currently holds $39.4 million, according to data from Token Terminal.

This incident underscores the volatility inherent in the crypto markets and the community’s capacity for support during times of distress.