5 ms·

So - the guy with the $170m position… his wallet has been recently active so it isn’t a case of lost keys… he’s running a short on Solana?

by edf13 4y ago

atian 4y ago
Haha yes it’s clearly a GTO position by one of Solana’s supporters.
- oblio 4y ago
  GTO?
  - wruza 4y ago
    Great Teacher Onizuka seemingly fits.
  - LittlePeter 4y ago
    game-theoretical optimum maybe
- lima 4y ago
  Solend != Solana
  - edf13 4y ago
    Yes, I know, but Solana will suffer when the large position is liquiditated (Or an attemp at liquidation)
itsoktocry 4y ago
>So - the guy with the $170m position… his wallet has been recently active so it isn’t a case of lost keys… he’s running a short on Solana? My understanding is he "owes" interest on loans he's received using Solana as collateral, so the account is at risk of being liquidated. Of course, no one wants that when many people are already underwater at current prices. What's funny is literally one day after voting to take over this account, prices are rising and now they "have time" to find a better solution? Brilliant governance, all around.
granddemolisher 4y ago
He is getting bailed out by people who has interest in keeping SOL up. There are a few individuals and firms invested in solana ecosystem bailing out companies in the background right now which is increasing the price for liquidation. Even if he got liquidated, then he could just buy sol at cheap due to contagion from his relatively stable loan in stablecoins and many investors will still need to bail out to recoupe their sol investment. He also could have short positions. It's the most optimal move for someone with that big stake. Hilarious.
im3w1l 4y ago
No. He makes money when solana goes up and risks liquidation if solana goes down. In other words, he has a leveraged long position.

5 ms·

So - the guy with the $170m position… his wallet has been recently active so it isn’t a case of lost keys… he’s running a short on Solana?

by edf13 4y ago

So - the guy with the $170m position… his wallet has been recently active so it isn’t a case of lost keys… he’s running a short on Solana?

atian 4y ago
Haha yes it’s clearly a GTO position by one of Solana’s supporters.
- oblio 4y ago
  GTO?
  - wruza 4y ago
    Great Teacher Onizuka seemingly fits.
  - LittlePeter 4y ago
    game-theoretical optimum maybe
- lima 4y ago
  Solend != Solana
  - edf13 4y ago
    Yes, I know, but Solana will suffer when the large position is liquiditated (Or an attemp at liquidation)
itsoktocry 4y ago
>So - the guy with the $170m position… his wallet has been recently active so it isn’t a case of lost keys… he’s running a short on Solana? My understanding is he "owes" interest on loans he's received using Solana as collateral, so the account is at risk of being liquidated. Of course, no one wants that when many people are already underwater at current prices. What's funny is literally one day after voting to take over this account, prices are rising and now they "have time" to find a better solution? Brilliant governance, all around.
granddemolisher 4y ago
He is getting bailed out by people who has interest in keeping SOL up. There are a few individuals and firms invested in solana ecosystem bailing out companies in the background right now which is increasing the price for liquidation. Even if he got liquidated, then he could just buy sol at cheap due to contagion from his relatively stable loan in stablecoins and many investors will still need to bail out to recoupe their sol investment. He also could have short positions. It's the most optimal move for someone with that big stake. Hilarious.
im3w1l 4y ago
No. He makes money when solana goes up and risks liquidation if solana goes down. In other words, he has a leveraged long position.