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Duo Nine | YCC Profile picture
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Sep 18 • 5 tweets • 3 min read
1/ ⚠ DO NOT HOLD #GLP TOKENS! You are at RISK to lose all your money on #GMX!

Price manipulation allows a skillful trader to siphon all the liquidity from GMX due to no price impact.

🚨 Someone just made $1 mil manipulating #AVAX price on GMX using this attack vector

How? 👇
2/ GMX exchange has a fixed price for assets fed by an oracle.

If you long or short any size on GMX, there is no price impact!

So the trader takes both a long & a short on GMX and then manipulates the price on CEX like Binance/Coinbase.

Once done, he pockets the profits. 👇
3/ Those profits are the liquidity provided by #GLP holders.

You provide ETH, BTC + stablecoins to GMX dex in exchange for GLP tokens.

If traders make profit, the liquidity providers lose. If traders exploit this vulnerability, the GLP holders may lose all their money!

More 👇
4/ This exact scenario was presented a few weeks ago. Now it happened. 👇

Off-site price manipulation can liquidate GLP holders & GMX dex!

@derpaderpederp - thx for spreading the word

More here:

The team was quick to react.

They capped the short / long open interest for AVAX to protect the exchange from such manipulation.

Such manual interventions are not ideal tbh. Particularly after the fact...

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More from @DU09BTC

Duo Nine | YCC Profile picture
Sep 4
1/ This is the most important thread you will read in this bear market. #BTC #XAU #USD #EUR

Are you prepared to preserve & protect your wealth?

This is critical in the next ~12 months.

Ready? Let's dive in. 👇
2/ Here's the macro picture.

Winter is coming, really!

With Russia cutting all gas to Europe, survival mode is about to kick off.

Hard decisions will need to be taken. 👇
3/ Many Europeans will have to choose between food, electricity or heating. This winter!

Which one would you choose?

If you think this will be limited to Europe, I have a surprise for you. 👇
Read 14 tweets
Duo Nine | YCC Profile picture
Aug 17
1/ #Kujira is the true successor to all that was good about the #Terra / #Luna / #UST ecosystem.

Forget Terra 2.0, look into Kujira. A thread. 🧵

@TeamKujira rebounded after the Terra collapse with its own chain, exchange, stablecoin & liquidation engine.

All in two months! 👇
2/ The team started with a liquidation engine on top of Anchor, but after Terra collapsed, they shifted gears.

They deployed their own chain on Cosmos and started building. FAST.

Now, Kujira is about to make its latest move. 👇

3/ I present you their Cosmos native stablecoin: #USK.

This is the missing piece to bring the #Kuji ecosystem together.

The best part? All fees on Kujira network will go to Kuji stakers (see #13).

What about risks/competitors? 👇
Read 16 tweets
Duo Nine | YCC Profile picture
Aug 6
1/ Here are my 20 tips for success after 8 years of crypto and living in 7 countries. 👇

Tip #18 explains why I posted this.

Ready? Let's go. A thread. 🧵
1️⃣ There is no better buy than #Bitcoin.

Plan to accumulate #BTC so that later you use it as collateral for cash loans.

BTC can become your unlimited credit card as it doubles in price every two years. Never sell it!

Next 👇
2️⃣ Taking profit is essential in a bull market.

I suggest you take profit in cash, gold or even BTC (if you sell alts).

Then use that to buy more in the following bear market.

Plan around cycles of 3-4 years (BTC halvings).

Next 👇
Read 22 tweets
Duo Nine | YCC Profile picture
Jun 23
1/ I learned an important lesson in this cycle.

Saylor & Su Zhu have demonstrated that being a whale is irrelevant. They made the same rookie mistakes as a newcomer to crypto.

Sounds like me in 2014, just that they lost billions.

Was there no one to advise them?

A thread 🧵 Image
2/ During this bull run, Saylor explained that #Bitcoin cannot correct more than ~50% from the all-time high because "institutions are here".

I was skeptical because history proved otherwise.

So far, #BTC has corrected over 70% & may go lower!

Next 👇

3/ Su Zhu, the boss of 3AC hedge fund, lost $2 bil & may go to prison. He FOMOed into the Terra scam & believed #BTC can't fall under $24k

It was obvious that Terra was bound to fail & BTC could crash to $20k in a bear market.

How did they miss this? 👇

Image
Read 16 tweets
Duo Nine | YCC Profile picture
Jun 13
1/ This is why #Celsius froze withdrawals. 👇

They have half a bil in #WBTC at risk of liquidation if they don't add more collateral, i.e. #Bitcoin!

So they stopped withdrawals & added YOUR Bitcoin as collateral to reduce their margin call.

Now standing at $18k / BTC.

Next 👇
2/ They added over 2k in WBTC to reduce their margin call from 20k to 18k (see both pics).

Whales and sharks will hunt this margin call... half a billion is a juicy target.

Can they save it? Hard to say.

There is another similar situation 👇
3/ #MicroStrategy, with their 130k BTC. 👇

They need to add collateral at $21k / BTC or they face margin calls!

Sure they may be able to do it without a sweat, but these companies are putting themselves at huge risk.

Celsius already REKT its users to save itself.

Next 👇
Read 11 tweets
Duo Nine | YCC Profile picture
Jun 10
1/ I just cleaned my Twitter following list. 👇

If you want to make it in crypto, use Twitter as your alpha. How?

Follow only crypto-related content, no noise. FOCUS.

Here's my curated list of handles to follow & stay on top!

A thread 🧵 Image
2/ Crypto moguls:

@saylor - BTC maxi
@elonmusk - World mogul
@VitalikButerin - ETH inventor
@cz_binance - Binance boss
@brian_armstrong - Coinbase boss
@BarrySilbert - Grayscale boss
@SBF_FTX - FTX boss
@novogratz - Mogul
@zhusu - Mogul
@haydenzadams - Uniswap inventor

Next 👇
3/ Stablecoins bosses:

@jerallaire - USDC
@paoloardoino - USDT
@justinsuntron - USDD
@robert_lauko - LUSD
@RuneKek - DAI
@KentoInami - UXD
@stablekwon - UST 💩 (follow at your own risk)

Next 👇
Read 13 tweets

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