2️⃣ Current trading volume is $2.3M at the time of writing this thread
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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
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Looks Like this is what he did -
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and the plot thickens -
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Daniel was prepared for the dump -
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Here are some interesting ideas by fellow defi enthusiasts -
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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.
A thread on how a $50M loan of the native asset on any major L1 can trigger a catastrophe 🧵
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 -
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.
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.
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.
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.