Perp dex liquidity - Decentralized exchanges - Ethereum Research


    
    
  
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                parzivalishan
                
              

              



              
                  
                    December 6, 2023,  4:21pm
                  
                  

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              As you maybe aware that dydx had a recent loss of about 10 million dollars due to $yfi price spiked and dumped.

it happened on every exchange whether it was defi or cefi , but dydx took a big hit and started a bounty for the person who did it.

I think it is unethical for dydx to take legal action , if someone places a big market order for buy and it makes the short liquidate - you should not take legal action about the trader who profited.

after all the markets react to amount of buys and sells.

Source- https://twitter.com/AntonioMJuliano/status/1726285820620103787


  

      twitter.com
  

  
    


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  Here are the main points we know about the $YFI incident on dYdX so far:

Reminder no user funds have been lost, but it is critical we understand what happened and adjust accordingly

- in the part few days $YFI open interest on dYdX spiked from $0.8m -> $67m
- basically all of…




  





  

  
    
    
  


  



            


            
              

            

            
                

            
              
                Zergity
                
              

              



              
                  
                    December 7, 2023,  3:43am
                  
                  

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              Agreed.

Bringing CeFi models to DeFi is never a good idea.

            


            
              
1 Like
            

            
                
	
        
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