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Ben Zhou Profile picture
@benbybit
Feb 3 • 1 tweets • 1 min read • Read on X
I am afraid that today real total liquidation is a lot more than $2B, by my estimation it should be at least around $8-10b. FYI, Bybit 24hr liquidation alone was $2.1B, As you can see in below screenshot, Bybit 24hr liquidations recorded on Coinglass was around $333m, however, this is not all of the liquidations. We have api limitation on how much feeds are pushed out per second. From my observation, other exchanges also practice the same to limit liquidation data. Moving forward, Bybit will start to PUSH all liquidation data. We believe in transparency.Image
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More from @benbybit

Ben Zhou Profile picture
Nov 16, 2022
1) Disclosing Bybit main users asset wallets (excluding other assets and non consolidated wallets are too many to list ~+20%). Around $1.9B. Bybit is also working on POR solutions such as Merkel Tree on UID level.
portfolio.nansen.ai/dashboard/bybit
2) We are also exploring new custody solutions to allow users view their own balance on chain or 3rd party custody. Bybit guarantees 1:1 reserves for all users and we made sure during this special period all users withdraws are processed in timely manner.
3) We always believed in transparency as demonstrated by one of the key initiatives Bybit contribution to Bitdao Treasury (totalled round 800m now ) which can also be viewed here:
portfolio.nansen.ai/dashboard/bitd…
Read 4 tweets
Ben Zhou Profile picture
May 13, 2020
Bybit new risk management tool for BTCUSD PERPS --- Mutual Insurance Beta is now LIVE!
Detail: help.bybit.com/hc/en-us/artic…

Summary of core features:

1. Mutual insurance is a new risk management tool for BTCUSD perpetual contract (Only on web portal for BTCUSD inverse contract) Image
2. Insurance can cover up to 100% of client margin + unrealized pnl within the insured period
3. Insurance is auto settled when client hits liquidation or client can choose to settle anytime manually.
4. Insurance premium calculation is 100% transparent and we will be releasing the calculation metrics soon.
5. Premium collected and paid out are coming in and out of the “mutual insurance fund” which is 100% transparent with daily detail transactions displayed publicly.
Read 4 tweets

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