For people spreading fud about andre. A thread 🧵
No, He didn't exit scammed you. He has a billion dollars in his PUBLIC wallet. I can assure you he doesn't need the money. He is in it for the tech because this is what gives him joy.
Apparently I was wrong. Liquidating $50M of native asset on almost any chain is catastrophic. Its a good thing we have people like
@Dr_Liquid_
and
@lafachief
watching over $ftm.
$deus got hacked but Lafa stepped up like a chad to save the day again.
I think there is a very high chance
@danielesesta
is going to liquidate the shorts. Please retweet the first tweet to spread more awareness so frogs can win this battle.
#OccupyDeFi
- Together we are One -
#FrogNation
$mim $ice $time
(9/9)
The recent $ftm liquidation cascade opened up my eyes. I am a strong supporter of
#defi
but defi is still in its infacy and we have a long way to go. If you don't know what i'm talking about start here -
Apparently I was wrong. Liquidating $50M of native asset on almost any chain is catastrophic. Its a good thing we have people like
@Dr_Liquid_
and
@lafachief
watching over $ftm.
$deus got hacked but Lafa stepped up like a chad to save the day again.
This will trigger a liquidation cascade like we have seen before with $ohm and $time. In my eyes, only ETH and BSC has somewhat decent capacity to mitigate this but all other chains would probably go in a death spiral until all loans are liquidated.
Why is this important?
For chains like $avax and $ftm, this can result in a death spiral where all loans will end up getting liquidated. You're like my borrow limit is safe and its at 50% rn. What happens when a 50M loan is liquidated?
8 - Polygon - Liquidating a $50M $Matic loan will have 62.5% slippage on-chain. This is worst out of all usable chains. It could probably crash the whole chain. The chain is already having a lot of issues and its not an understatement
The price on-chain drops 35%. Then someone who had 20% borrow limit remaining will get instantly liquidated and then it ends up liquidating more peeps under him/her and eventually you will be caught in the torrent as well.
Short thread on why $OX might pump in near future -
One whale bought ~350k worth of OX after the dump (in last couple of days). He then LP'ED single sided $OX 4hrs ago. His sell target is from 0.18 to 0.5 OX.
He is definitely an insider. He also bought early last time and sold…
I remember the tweet by
@kamikaz_ETH
-
@danielesesta
was a good guy, trying to do the right things. He didn't deserve what the community did to him.
@lafachief
keep doing what you do best and ignore the noise.
$deus $dei $scream
#Defi
god
@danielesesta
has already done all the prep forseeing how FTX listing will hurt the price of $spell.
1️⃣ He sent $4M in USDT to FTX before going offline -
2️⃣ Current trading volume is $2.3M at the time of writing this thread
(2/9)
If you are farming Bungee and Jumper airdrops - then bridge to as many destination chains if you can
- bungee only 829 wallets have sent to 7 destination chains
- jumper only 704 wallets have done 7 chains
Roughly ~200 wallets have done 9 chains
$GNS stats for 2 nov 2022 -
Fees - $64.88k
new users - 318
trading volume - $108.76M
traders gained - $23.25k (covered by $dai vault)
Generating more fees as compared to $avax chain and magic eden
Gud project 🔥
2 - Terra - Liquidating a $50M Luna loan will have 33% slippage on-chain. I do not know of a dex aggregator on $luna so this number might be lower. This is 4th best out of all chains.
@CryptoHarry_
He isn't having the best week but believe me 99% of people won't be able to do what he did.
Everyone is happy and euphoric when we are up only. When we go down, CT is such a toxic place that you can lose your mind.
And no andre hasn't left the $ftm foundation, it was confirmed by fantom ceo/cto on official ftm telegram.
Please retweet the first tweet if you liked this thread so this can reach more people.
I just hope Lafa doesn't leave the space because of toxic people. I don't want to see another builder leave the space just because our bags are not going up.
Our $OX insider is back and is clipping in 14eth clips again. Bought $50k worth of $OX today.
Maybe
@zhusu
is coming out and he is front running it?
Wallet -
Short thread on why $OX might pump in near future -
One whale bought ~350k worth of OX after the dump (in last couple of days). He then LP'ED single sided $OX 4hrs ago. His sell target is from 0.18 to 0.5 OX.
He is definitely an insider. He also bought early last time and sold…
So the case is actually not limited to just $FTM but can happen on any chain.
@FantomKing
is just a perma bull and didn't expect this. I don't see any problems with him taking such a big loan, its his choice after all.
How can this be prevented ?
I am not sure because these are smart-contracts and they usually have a strict course of action. Only way I can think of is by doing an OTC trade with someone who wants to buy asset at cheaper price and has enough money to settle the loan.
So get the fuck off and stop riding on the back of andre. He DESERVES a break, he has done so much for the
#defi
community. Name one dev who has done this much alone.
3️⃣ If he just buys spell on spot. It should liquidate a good amount of traders.
4️⃣ If he wants to use leverage then we all know what's going to happen
(3/9)
In this thread, I'll be talking examples of the top 10 L1's and L2's on defillama (by TVL) and show you how we all are walking on such thin ice with lending and borrowing.
$solid is still going to be a dope project. I was really hoping to see
#forex
trading on $ftm but I guess I gotta wait. Andre may never come back to ct and you know what, he doesn't OWE you anything.
#rantover
So everyone apparently sets a goal for a million dollars. What will you do when you reach that goal? What keeps you happy? Most people fail to realise that money is not the end. You need to be able to do something that you enjoy otherwise life will be boring.
He mentioned in his tweet that there are only 4-5 people with whom he can talk code and ALL of them retired because they got too rich or lost interest.
He kept on building because this is what keeps him happy, he just wants to code for the possibilities it can bring.
How to get your project to first 10M MC in 2 weeks-
1. Launch on Arbi (very very important)
2. Offer 4 figure APR (get farmers in)
3. Don't Rug.
That's it!
Everyone on CT is waiting for a pullback and asking not to long. What if, we never get a pullback and everyone just copes and dumb money makes the most money?