For those farming GRVT, remember to set your hedge points properly. When increasing trading volume, make sure to close positions in time.
#GRVT 0.9% liquidation fee (common in exchanges) @grvt_io
Today, let's talk about the unreasonable fees of the #GRVT Rich Exchange.
Due to the need for arbitrage, I recently tried out some exchange platforms and noticed #GRVT. After roughly understanding its financing scale, I decided to give it a shot.
Today, I got liquidated on a position, and only then did I realize the liquidation fee is exceptionally high. I contacted customer service on DC, and they told me that the liquidation fee is calculated as 0.9% of your total position, which is 9% (common in exchanges???). For example, if your position is 10,000 USDT, the fee is 90 USDT; if it's 100,000 USDT, the fee is 900 USDT. Is this what you call common?
I have only three questions for you, look in my eyes @grvt_io:
1: Which exchange charges a 0.9% liquidation fee?
2: Which exchange requires 48 hours to withdraw on the ETH chain?
3: Which exchange charges a fixed 15 USDT withdrawal fee per transaction?
To this exchange, I just want to say you must be 🤏 dreaming. Poor liquidity is one thing, but the opening and closing prices never match the top counterparty. Orders often don't get filled, and market orders are executed at the average price of the best bid and ask. What?
A warning to those working on this project: carefully assess the risks before proceeding, because your position might not withstand the 0.9% liquidation fee during extreme market conditions.
There's always a reason for a niche to remain niche.
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