/biz/ - Business & Finance

42 Sat Jun 25 13:09:09 2022 No.49966764 [View]
File: 212 KB, 1200x630, FDAE8033-47ED-4FB7-A775-6C88CEF45A6B.jpg [View same] [iqdb] [saucenao] [google]

>>49966629
3AC and Celsius were trying to use the bancor token and the protocol itself as a way to siphon whatever liquidity they could to cover their bankruptcies.

The team did the right thing by pausing “ILP”. By pausing it, they prevented us from becoming the unsecured creditors for 3AC’s and Celsius’ bankruptcies. The entire protocol has $250 million in liquidity and could never cover the billions in losses from CeFi cooked books.

The part that pisses me off is how DeFi found itself in this situation in the first place. But that’s just the nature of opaque counter party risk that CeFi represents.

Lessons learned team. Time to grind and never let this happen again.

Advanced search
Text to find
Subject [?]Search by post subject. Leave empty for any.
Username [?]Search for user name. Leave empty for any user name.
Tripcode [?]Search for tripcode. Leave empty for any.
Email [?]Search by email. Leave empty for any.
Filename [?]Search by image filename. Leave empty for any.
From Date [?]Enter what date to start searching from. Format is YYYY-MM-DD
To Date [?]Enter what date to start searching until. Format is YYYY-MM-DD
Image hash
Search in	All Posts OPs Only
Deleted posts	Show all posts Show only deleted posts Only show non-deleted posts
Internal posts	Show all posts Show only internal posts Show only archived posts
Order	New posts first Old posts first
Capcode	All Posts Only by Users Only by Mods Only by Admins Only by Developers
Results	Posts Threads
Action	[ Simple ]

Navigation
View posts	[+24]	[+48]	[+96]

/biz/ - Business & Finance

Search: