Thread by @getjiggywithCEL

1/6 Sharing my @CelsiusNetwork Margin Call (MC) experience for those that are curious to know what takes place. Along with the amazing customer service offered by @Theloansqueen and her team (in particular Tobie) Thanks to @Mashinsky for providing such opportunities
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2/6 I took a little gamble and tried a few CEL collateralized loans at 33%LtV (out of my 70+ loans at usual 25%LtV) to potentially trigger a Margin Call. Firstly you’ll receive multiple emails informing you of the MC

3/6 Your best option is to respond ASAP to [e-mail] and acknowledge that you are aware, that you will either add more collateral or close the loan. I requested for a 24-48hr grace period to whitelist new addresses, with no pushback from the team member (Tobie) 😘

4/6 Upon opening your Celsius App you will experience multiple pop up alerts too.

5/6 for me I found, instead of buying or adding more collateral ($30,388), which would cost more than the borrowed loan amount ($22,000). I would prefer to reduce my risk exposure in most cases, exit the loan and unlock my collateral.

6/6 lastly this is the live process that took me no longer than 90 seconds. #buckthefanks #celsius #CEL