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SirRobin 🌐 Profile picture
SirRobin 🌐
@SirRobinBTC
year of the degen
Jan 23, 2022 • 11 tweets • 3 min read
Many in the $ICX community are not aware of the events that occurred on @BalancedDAO over the last 36-48 hours.

As someone with an outstanding loan:

Here’s a summary of what transcribed and a bit of knowledge we learned along the way.

👇

1/11 The story really started the day of the ICY/Z airdrop snapshot. Over $25m in volume, with the majority selling, caused borrower’s debt to go up 38% to accommodate such strain on bnUSD

Rebalancing is a mechanism $BALN uses to keep the bnUSD peg close to $1

2/11