Share this page!

MidasTheFool Profile picture
Twitter logo
Jun 15 • 7 tweets • 2 min read
It's not over yet...

3AC Liquidation ETH Price:

1042..?

Health factor 1.13... liquidates at 1.00

God speed comrades...
Last repayment was over 21 hours ago...

health factor now at 1.09

Don't let me down boys.
Here we go, #3AC here with the repayments. Hopefully first of a few

health factor still 1.09
Kinda cute, they are:
sending ETH to a different wallet,
then selling the ETH,
then sending back USDC to original wallet,
then pay back their loan.

Another 3M usdc paid off
Looks like they still have another $3M in eth on this wallet alone they could still use.

And another $3M of ETH in the wallet they're using to sell.

Still an easy $6M of eth they can sell and pay back.
There we go. That $6M in ETH also sold off for stables.
3AC Liquidation ETH Price: $1018

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with MidasTheFool

MidasTheFool Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @MidasTheFool

MidasTheFool Profile picture
Jun 15
Current #3AC situation summarized:

3AC has $245M of $ETH deposited on lending platform @AaveAave

From this, they have borrowed $189M in $USDC and $USDT

This puts their Loan-to-Value ratio at ~77%

They must keep this below 85%
At current collateral/loan values, 85% or liquidation of their $245M of ETH occurs when $ETH hits $1034

Their options:
1) Deposit more USDC/USDT to bring down loan
2) Add more $ETH
3) Pump the price of $ETH

I'm sure the sharks are out there trying to dump ETH.
They did not do anything for the last 21 hours, but they are finally starting to do a weird multi step approach:

1) Move ETH to another wallet
2) Dump ETH for stables
3) Move stables back
4) Pay back loan

But only a few million at a time. Which is barely anything.
Read 18 tweets
MidasTheFool Profile picture
Jan 27
Who exactly is @0xSifu? aka Michael Patryn? aka Omar Dhanani?

I've had the unfortunate pleasure of following this criminal for years. A thread on why we need this guy out.

$TIME $WMEMO $SPELL
1/ Currently affiliated with @Wonderland_fi as CFO and on the multi-sig of the 800M+ treasury. His wallet expanded from 45M to 450M+ and is currently funneling out the funds now that @0xSifu has been ousted as his real identity.
2/ 2018-2019 he was "Michael Patryn". Him and now missing/deceased co-founder Gerald Cotten started Quadrigacx, a Canadian crypto-exchange.

They basically ran a ponzi, with on chain evidence showing that Cotten may have traded with user's funds.
Read 15 tweets
MidasTheFool Profile picture
Jan 27
1/ Some of the biggest Defi Protocols are helmed by a known criminal and scammer Michael Patryn who owns $400M+. I will try to explain the insane crime drama unfolding regarding $TIME $wMEMO $SPELL @0xSifu @danielesesta
2/ Less than 48 hours ago, the @Wonderland_fi protocol was under attack. Most seem to believe it was a liquidation cascade set off to target @danielesesta who lost 8 figures in the attack. The attack was done while he slept. Dump seen below
3/ At this point @danielesesta probably has tons of enemies. So it could have been anyone. I'm sure there are those that don't want him in charge of @SushiSwap and others who are angry he left @traderjoe_xyz. But at this point, some are wondering if it was an inside job?
Read 18 tweets
MidasTheFool Profile picture
Nov 12, 2021
Defi Wars Pt 2 (Curve Wars – The @Tetranode Strikes Back)

A follow up. I will try to do a deeper dive of the events since yesterday's $MOCHI listing.

A tale of threats, scams and FUD for the future of Defi.

🧵👇

Soon after my last thread and @Tetranode's threats settled, $MOCHI resumed the pump. Quickly bouncing from its dip and hitting ATH. Many rallied behind $MOCHI and @AZtztk, cheering for the "underdog" against the bully whales.

"How is this decentralized if a whale can bully?" Image
🤔Reminder: the curve wars are fought over $crv/ $cvx so that one may direct the gauge towards their own protocol. Think of the gauge as basically a pipe spewing out $ rewards into your protocol.

Owning more $CVX gives you more voting power over where these gauges are aimed
Read 21 tweets
MidasTheFool Profile picture
Nov 11, 2021
Defi Wars. Looks like the stage has been set. I will attempt to give a brief overview of the situation, but keep in mind the dust hasn't even settled from tonight's events.

$MOCHI @MochiDeFi @AZtztk vs... A lot.. @Tetranode @OlympusDAO @Keeper_DAO @AndreCronjeTech +more

🧵👇
There is a giant ongoing war to accumulate enough influence and power over the @CurveFinance Protocol.

After all, it is the largest decentralized defi exchange in terms of TVL.
Many defi protocols all have their allies and backers. And many of them have been interested in taking a position in the $CVX token.

This would drive profitable emissions to their protocols as well as earn additional revenue from their influence over the $CRV protocol
Read 14 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(