"Our DeFi based lending system and yield products worked flawlessly yesterday. No client liquidations took place."
My thoughts on the past 24 hours…
If you had no leverage or a 35% LTV loan on bitcoin you’re totally fine after yesterday. Or you will be.
If you were operating with leverage on altcoins you probably got wiped out and I’m sorry.
Some of you are looking for a scapegoat for yesterday’s massive drawdown. Perhaps you simply need to look in the mirror.
It was crystal clear that the only topic of interest to the masses in Singapore this year was PERP DEXs offering massive leverage. And use that leverage everyone clearly has. So when the liquidations start we get what we deserve.
It’s possible several funds, MMs, or even a couple of exchanges died yesterday. But I’m guessing in 90 days we’ll be at all time highs in a crazy “L1 driven alt season.”
After FTX, BlockFi, Celsius, Voyager, Genesis, Luna tattoos, Babel and Three Arrows we changed our model at Abra and doubled down on Bitcoin, L1s, and DeFi.
Our DeFi based lending system and yield products worked flawlessly yesterday. No client liquidations took place.
Bitcoin is the future of money
DeFi is the future of investing and banking
Perps are the future of gambling
Decide which bucket you’re operating in and act accordingly
3.24 K
8
El contenido al que estás accediendo se ofrece por terceros. A menos que se indique lo contrario, OKX no es autor de la información y no reclama ningún derecho de autor sobre los materiales. El contenido solo se proporciona con fines informativos y no representa las opiniones de OKX. No pretende ser un respaldo de ningún tipo y no debe ser considerado como un consejo de inversión o una solicitud para comprar o vender activos digitales. En la medida en que la IA generativa se utiliza para proporcionar resúmenes u otra información, dicho contenido generado por IA puede ser inexacto o incoherente. Lee el artículo enlazado para más detalles e información. OKX no es responsable del contenido alojado en sitios de terceros. Los holdings de activos digitales, incluidos stablecoins y NFT, suponen un alto nivel de riesgo y pueden fluctuar mucho. Debes considerar cuidadosamente si el trading o holding de activos digitales es adecuado para ti según tu situación financiera.