Are whales tanking EXFI to profit from liquidations?

[Seoulite]

Title says it all. Lots of people in the Discord are talking about how the system is twisting and some oriole are getting trapped and losing lots of money. Obviously this is always a risk of crypto and using financial instruments but is it also something to do with the DeFi tools that they are running? Anyway I’m thankful I stuck to the safest and lamest strat. Also I bought too early and missed the bottom again.

[thinlyspread]

I just think that all the coins launched massively overhyped and overpiced and now they're coming down to a more 'rational' valuation based on relative market cap vs similar network protocols. 

When 'number go up' people rarely ask WHY, yet when 'number go down' suddenly it's some outrageous anomoly. End of the day, Songbird is an incomplete test/canary net that's just a bunch of tokens within tokens without any clear idea of how to value them in the real world (outside of crypto).

Give it some time. We are in a bearish mini cycle. The team released it late and with poor timing, and the network is totally incomplete and lacks any deflationary pressures (e.g. we need the s-asset system) outside of pure speculation. So it's been a bit of a sh*tshow, frankly. It'll get better. 

[brianwalden]

I don't know about whales, but using volatile assets as collateral is a dangerous game. It's not like stonks where you get a margin call and have until the end of the day to come up with the funds. When you hit the liquidation point, you get liquidated, even if it's just a wick.

If you're going to do it, start small and learn. It's one of those things you can't really fully understand by reading about it. You've got to experience it to really know it.

A hodlr can survive any bear, but liquidations can absolutely wreck you.

[RambeauTeasebox]

@Seoulite What's the mechanism being used to profit from the price depreciation? (Is there a way to short EXFI or SGB that I'm not aware of?)

If the idea is that some people are tanking the price, hoping to buy back in lower and HODL until it goes back up... I wouldn't exactly say that's a clear way to profit from price depreciation.

[Braulio]

I delegated some ExFi, and SGB/cand both to receive sfin rewards but I’ve earned 0 in about a week.  Anyone else experiencing this?

[Seoulite]

9 hours ago, brianwalden said:

If you're going to do it, start small and learn. It's one of those things you can't really fully understand by reading about it. You've got to experience it to really know it.

Agree with this. The same is true for margin trading and options trading. These are complicated mathematical formulas that can be explained a million times but you only understand by doing. Also you don’t feel the risk of these things until you get burned. It is a very rare person who doesn’t need that pain to understand it.

[Seoulite]

1 hour ago, Braulio said:

I delegated some ExFi, and SGB/cand both to receive sfin rewards but I’ve earned 0 in about a week.  Anyone else experiencing this?

Hover over your unclaimed amount with your cursor and it should show.

[Seoulite]

7 hours ago, RambeauTeasebox said:

@Seoulite What's the mechanism being used to profit from the price depreciation? (Is there a way to short EXFI or SGB that I'm not aware of?)

If the idea is that some people are tanking the price, hoping to buy back in lower and HODL until it goes back up... I wouldn't exactly say that's a clear way to profit from price depreciation.

I don’t know the mechanism because I don’t know all the ins and outs of this system, which is the reason why I’m not in LPs or loans or anything. But I have no trouble believing that with a little money and knowledge you could cause a cascade in this system.

[henne111]

20 hours ago, Braulio said:

Ich habe einige ExFi und SGB/cand delegiert, um Sfin-Belohnungen zu erhalten, aber ich habe in ungefähr einer Woche 0 verdient. Hat das noch jemand erlebt?

Press the 0 at Unclaimed. And you see their reward.

[Braulio]

On 1/11/2022 at 5:10 PM, Seoulite said:

Hover over your unclaimed amount with your cursor and it should show.

Still nothing.  Very odd.  Previously I earned dflr by delegating SGB/cand.  I’m stumped

[Seoulite]

8 hours ago, Braulio said:

Still nothing.  Very odd.  Previously I earned dflr by delegating SGB/cand.  I’m stumped

very strange, i would ask on the discord

[Braulio]

15 hours ago, Seoulite said:

very strange, i would ask on the discord

Do you have the discord link/invite

[Seoulite]

5 minutes ago, Braulio said:

Do you have the discord link/invite

https://discord.gg/flarefinance

[Braulio]

On 1/13/2022 at 7:03 PM, Seoulite said:

https://discord.gg/flarefinance

Says link is invalid.  Ugh.  How can that be invalid?

[Braulio]

15 minutes ago, Braulio said:

Says link is invalid.  Ugh.  How can that be invalid?

Never mind.  Got in.