LINK is now the #1 borrowed asset on aave what's gonna happen?

File: 12 KB, 635x163, axx.jpg [View same] [iqdb] [saucenao] [google]

Anonymous Mon Jul 27 14:14:58 2020 No.20741400 [Reply] [Original]

LINK is now the #1 borrowed asset on aave

what's gonna happen?

>>	Anonymous Mon Jul 27 14:16:08 2020 No.20741435 >>20741400 why do they borrow it? to short with?

>>	Anonymous Mon Jul 27 14:16:17 2020 No.20741439 File: 19 KB, 476x277, B0AAF739-6F8C-4C15-BD40-9AF74A5FC461.jpg [View same] [iqdb] [saucenao] [google] >>20741400 >pomp et

>>	Anonymous Mon Jul 27 14:16:20 2020 No.20741443 >>20741400 Massive short squeeze that shoots link to the $15-20 range

>>	Anonymous Mon Jul 27 14:16:48 2020 No.20741459 >>20741400 Keep in mind whales know this and love nothing more than wrecking people.

>>	Anonymous Mon Jul 27 14:17:17 2020 No.20741474 File: 2.69 MB, 360x371, 1564877965791.gif [View same] [iqdb] [saucenao] [google] >>20741400 >what's gonna happen?

>>	Anonymous Mon Jul 27 14:17:20 2020 No.20741477 >>20741400 NEW ATH COMING, DOUBLE EVENTS + BSN ANNOUNCEMENT OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

>>	Anonymous Mon Jul 27 14:17:51 2020 No.20741491 >>20741400 I have 10k linkies on aave but not to short but to long

>>	Anonymous Mon Jul 27 14:17:54 2020 No.20741493 >>20741435 that has been the case for the past week.

>>	Anonymous Mon Jul 27 14:18:24 2020 No.20741508 >>20741435 Initially to short, but their short was a colossal failure so now they have to borrow to minimize their losses

>>	Anonymous Mon Jul 27 14:18:45 2020 No.20741519 >>20741477 checked, based and futurepilled

>>	Anonymous Mon Jul 27 14:19:06 2020 No.20741524 >>20741477 checked. What BSN announcement? Is there new info?

>>	Anonymous Mon Jul 27 14:19:38 2020 No.20741537 >>20741400 what habben if i have some LINK deposited in aave not Im not borrowing against it? Is there any worry about me losing my LINKs?

>>	Anonymous Mon Jul 27 14:19:51 2020 No.20741542 >>20741400 NEXO needs link to dump. It's not really working out great.

>>	Anonymous Mon Jul 27 14:21:51 2020 No.20741599 >>20741537 I'm also wondering this. And how much would we earn

>>	Anonymous Mon Jul 27 14:22:04 2020 No.20741604 >>20741524 https://mobile.twitter.com/LinkFinland/status/1287405837162512384

>>	Anonymous Mon Jul 27 14:25:49 2020 No.20741705 >>20741542 I wish we could see their liq price

>>	Anonymous Mon Jul 27 14:25:57 2020 No.20741709 >>20741604 Thanks, I missed that

>>	Anonymous Mon Jul 27 14:27:55 2020 No.20741755 >>20741537 No clue, but how you going to get paid if they have nothing? You'll wish you had a smart contract

Anonymous Mon Jul 27 14:51:18 2020 No.20742418

>>20741537
Simeon borrowed your Link to short on binance.
This means he sold you stack and left a collateral on AAVE.
He is using your link to short against you and reduce the collateral% value of your link stack which could cause you to get destroyed if this gets too low.
The second thing is once he has sold your link stack he doesn't have it anymore and can't buy it back again without heavily increasing the price of Link and going bust.
He can't return what he borrowed.
Then this means AAVE will have to get back the money once his collateral is used.
However you either will get his BTC stack in exchange at the moment the collateral is taken and before Link moons or you will get a reduced percentage of your Link stack back based on what AAVE can get now that all this liquidity disappeared and it can't buy back everything without increasing the price tenfold.

You are essentially the same as a swing trader hoping he won't lose everything once Link moons.

>>	Anonymous Mon Jul 27 14:52:41 2020 No.20742461 >>20741443 This shit is going to be historic if it gets pulled off. PAMP EEEET

>>	Anonymous Mon Jul 27 14:54:44 2020 No.20742526 >>20741537 I would withdraw right now if I were you. Things may work out or you could take some shrapnel in the chaos to come. Shit could wild very quickly.

>>	Anonymous Mon Jul 27 14:58:02 2020 No.20742619 i don't understand these borrowing sites and don't use them for that reason

>>	Anonymous Mon Jul 27 14:59:31 2020 No.20742663 When does liquidation happen?

>>	Anonymous Mon Jul 27 15:00:54 2020 No.20742700 >>20742526 >>20742418 >Being this new to defi >>20741537 You are earning interest on your links If these other anons weren't just trolling no if a shorter gets btfo you wouldn't be affected the protocol is set up to protect you from this

Anonymous Mon Jul 27 15:01:40 2020 No.20742723

This may even be a heavy blow against Defi platforms.
It could potentially destroy AAVE and all trust people have in Defi platforms.

The person responsible for AAVE could get sued for this if lenders don't get back their Link stack when the short squeeze happens and Simeon goes bust.

>>	Anonymous Mon Jul 27 15:02:42 2020 No.20742756 File: 9 KB, 250x244, StopLossNone.jpg [View same] [iqdb] [saucenao] [google] >>20742700 Promises only apply to those who chose to believe in them...

>>	Anonymous Mon Jul 27 15:03:05 2020 No.20742770 LIQUIDATE LIQUIDATE LIQUIDATE WE ARE HITTING ALL NEW ATH

>>	Anonymous Mon Jul 27 15:03:27 2020 No.20742790 this is all larping though there wont be a short squeeze lets be honest

>>	Anonymous Mon Jul 27 15:04:03 2020 No.20742808 >>20741604 bsn is live since 25 april

>>	Anonymous Mon Jul 27 15:04:28 2020 No.20742823 >>20741400 >aave >is an acronym for African American Vernacular English

>>	Anonymous Mon Jul 27 15:05:32 2020 No.20742855 >>20742700 >trust the protocol, goy >nothing could ever go wrong t. MTGOX

>>	Anonymous Mon Jul 27 15:06:40 2020 No.20742896 >>20742790 Cope. You are done Simeon

>>	Anonymous Mon Jul 27 15:06:50 2020 No.20742900 >>20742700 >protocol is set up to protect you is there a smart contract?

Anonymous Mon Jul 27 15:07:07 2020 No.20742911

>>20742790
Simeon you are getting really desperate...
You can't buy back the 21M Links borrowed to short it.
Sergey dumps 500k every 2 weeks which means you sold at least the equivalent of 1.5 year of his dumps and he is the only one bringing liquidity to this market.
And Sergey may decide to decrease the size of his dumps to 200-300k like he did from 700k to 500k now that Link's price increased, which could even double that time to 3 years.

>>	Anonymous Mon Jul 27 15:07:23 2020 No.20742921 >>20742723 You are dumber than a box of niggers. Nothing you're shit posting is scaring people away from AAVE.

>>	Anonymous Mon Jul 27 15:09:43 2020 No.20742982 >>20742921 Survival of the fittest. People who chose not to think and ignore risks will get rewarded for their incompetence. Insulting someone is not something I consider a logical argument and the last step of someone who can't refute an argument.

>>	Anonymous Mon Jul 27 15:09:54 2020 No.20742989 >>20741400 how the fuck do you get back lent link?

>>	Anonymous Mon Jul 27 15:11:04 2020 No.20743018 Tangentially related, how do I short shitcoins? 99% are pump and dumps that go to zero, so it seems like an easy win

>>	Anonymous Mon Jul 27 15:11:28 2020 No.20743028 It means we gonna profit over dumb fudders shorting link who can't see the amount of fake information inside zeus report

>>	Anonymous Mon Jul 27 15:12:25 2020 No.20743055 how the fuck do i long link on aave

>>	Anonymous Mon Jul 27 15:13:12 2020 No.20743073 >>20742982 Arguing with you doesn't do anything for me. You're a toilet bug and I'll address you as such.

>>	Anonymous Mon Jul 27 15:14:13 2020 No.20743100 >>20743055 You take it out from the system either by directly removing your Link or borrowing it to keep it away from short sellers. No Link to short = can't short it.

Anonymous Mon Jul 27 15:16:41 2020 No.20743173
File: 90 KB, 1062x1080, EbGPlL8XYAIuytF.jpg [View same] [iqdb] [saucenao] [google]

It means us linkies get to collect sweet interest while the borrow slaves fight for their lives against liquidation.
Remember what G*d teaches us about lending. To lend is to dominate. Always lend. Never borrow.

>>	Anonymous Mon Jul 27 15:16:59 2020 No.20743177 >>20742808 It's a huge project, it's getting rolled out in increments.

>>	Anonymous Mon Jul 27 15:17:29 2020 No.20743195 >>20742619 amen brother

>>	Anonymous Mon Jul 27 15:18:46 2020 No.20743239 >>20741537 You shouldn't be trusting these new defi shit contracts until its been tested. How many hacks have these things had so far this year? Too many. You are gonna lose your linkies.

>>	Anonymous Mon Jul 27 15:19:40 2020 No.20743262 >>20743239 It's very high risk, but very high reward.

>>	Anonymous Mon Jul 27 15:19:41 2020 No.20743264 >>20742790 there was a massive short squeeze when we ran up to almost 9$ it was incredibly well documented retard

>>	Anonymous Mon Jul 27 15:21:34 2020 No.20743318 Anthony Vase said it was a scam I believe him you should do the same and sell

Anonymous Mon Jul 27 15:21:38 2020 No.20743323
File: 147 KB, 766x517, 1582753561343.png [View same] [iqdb] [saucenao] [google]

>>20741435
Two theories
>They borrow and sell everything. This is intended to cause panic so they can buy back and repay at a lower price.
>They borrow and only sell part of the loan. This is intended to cause panic so they can keep borrowing more at a lower price until there's nothing left. Then they never repay and get to bank millions of LINK, while yield farmers who left their LINK there are cucked out with a clusterfuck as AAVE has to deal with buying millions of LINK tokens.
Either way there is a strong correlation between the loans being taken and the selloff dumps.

Anonymous Mon Jul 27 15:22:00 2020 No.20743329

>>20743073
I can't consider this as arguing.
You did not give one argument since the start.
You are on the same level as a 5 years old child throwing a tantrum because he did not get his new toy.
The one who looks incompetent and stupid is you, Simeon.

You will get what you deserve in the end no matter how much you lie and how many paid shills you have.

>>	Anonymous Mon Jul 27 15:22:48 2020 No.20743350 >>20741400 >>20741443 what would happen to shorts? are they sold off in dex or something?

>>	Anonymous Mon Jul 27 15:22:52 2020 No.20743352 >>20741508 What fucking planet do you live on the price is down almost $2

>>	Anonymous Mon Jul 27 15:23:52 2020 No.20743377 >>20741443 100% this shorting is amazing Bc it can lead to a major major squeeze. Have you heard of tesla? The most shorted stock in history

>>	Anonymous Mon Jul 27 15:24:15 2020 No.20743385 >>20742770 Take your meds JIDF

Anonymous Mon Jul 27 15:26:49 2020 No.20743456

>>20741435
>>20743377
>Short squeezes are more likely to occur in stocks with a small number of traded shares, often stocks with small market capitalization and small floats. Squeezes can, however involve large stocks and billions of dollars, as happened in October 2008 when a short squeeze temporarily drove the shares of Volkswagen on the Xetra DAX from €210.85 to over €1000 in less than two days, briefly making it the most valuable company in the world. Short squeezes may also be more likely to occur when a large percentage of a stock's float is short, and when large portions of the stock are held by people not tempted to sell.

History will repeat itself.

Anonymous Mon Jul 27 15:28:54 2020 No.20743517

>>20743262
Yes, but if I see this much out in shorts in this crazy market, I'm taking my shit back immediately. We already saw one liquidation cascade in the last 4 weeks. Next one could be bigger. No idea what happens to deposits in that case and I wouldn't want to find out with *my* stinkies

>>	Anonymous Mon Jul 27 15:30:40 2020 No.20743580 File: 533 KB, 250x134, 1590613752039.gif [View same] [iqdb] [saucenao] [google] >>20743456 >Short squeezes may also be more likely to occur when (...) large portions of the stock are held by people not tempted to sell.

>>	Anonymous Mon Jul 27 15:31:59 2020 No.20743616 >>20743456 Ya I mean that could be the reason for the FUD to get the shorts on board and squeeze the hell out of it. Could easily go over $10. A lot of it depends on the faith of the investors basically and it’s a long hold game

>>	Anonymous Mon Jul 27 15:35:56 2020 No.20743726 What happens if people who deposited link on Nexo try to withdraw and their linkies are no longer there?

>>	Anonymous Mon Jul 27 15:36:19 2020 No.20743738 >>20742900 no nexos is cefi

>>	Anonymous Mon Jul 27 15:37:39 2020 No.20743797 >>20743726 Something worse than what happens to those who deposited it on AAVE and at least get the value of the collateral minus the moon mission back. Nexo goes bankrupt and they lose everything.

>>	Anonymous Mon Jul 27 15:39:13 2020 No.20743852 >>20743318 I don’t listen to anything you can put flowers into

>>	Anonymous Mon Jul 27 15:42:07 2020 No.20743944 >>20743852 This. Same reason why I wouldn't have fallen for the policies of Pol Pot.

>>	Anonymous Mon Jul 27 15:48:03 2020 No.20744112 >>20743726 Haha they’d be fucked as would be nexo. Can’t wait for a strong strong squeeze thank you based Zeus capital

>>	Anonymous Mon Jul 27 15:53:24 2020 No.20744271 when link moons hard.. all aave deposits will be turned to collateral( btc in this case) and depositors will be payed in btc and could miss link moon.

>>	Anonymous Mon Jul 27 15:55:08 2020 No.20744322 >>20744271 why would anyone risk their link in one of those?

>>	Anonymous Mon Jul 27 15:55:59 2020 No.20744352 >>20744322 see >>20743262

>>	Anonymous Mon Jul 27 15:56:08 2020 No.20744357 >>20744322 simple greed

>>	Anonymous Mon Jul 27 15:58:22 2020 No.20744428 >not tempted to sell. DID read NEVER Selling

>>	Anonymous Mon Jul 27 15:58:29 2020 No.20744434 LINK IS JUST AN ETH TOKEN

>>	Anonymous Mon Jul 27 15:59:51 2020 No.20744463 >>20744271 So this is the power of smart contracts

>>	Anonymous Mon Jul 27 16:00:12 2020 No.20744476 >>20743944 Kekked and checked

>>	Anonymous Mon Jul 27 16:14:45 2020 No.20744936 >>20744463 kek

>>	Anonymous Mon Jul 27 16:21:34 2020 No.20745118 >>20743797 Holy shit there are no wojacks to compute that level of justening. If anybody in this thread has linkies on Nexo you better get to the exits before the bank run.

>>	Anonymous Mon Jul 27 16:28:23 2020 No.20745276 >>20742855 Non niggers can read the code for themselves nothing to trust

>>	Anonymous Mon Jul 27 16:32:15 2020 No.20745388 >>20743580 >>20743456 Stop I can only get so hard.

>>	Anonymous Mon Jul 27 16:34:29 2020 No.20745460 >>20741508 The short was an enormous success

>>	Anonymous Mon Jul 27 16:35:11 2020 No.20745478 >>20741508 I keep hearing that it is a failure, but how? LINK has dipped significantly. With so many link in play, this short would net a healthy profit for them.

>>	Anonymous Mon Jul 27 16:42:44 2020 No.20745670 >>20744434 >Air is just random molecules. Doesn’t mean everyone doesn’t need it faggot.

>>	Anonymous Mon Jul 27 16:44:39 2020 No.20745734 How much of a newfag have you got to be to not still be making a profit on link even in this dip? I bought in july 2019 and stil am making like 2x profit in the dip.

Anonymous Mon Jul 27 17:21:35 2020 No.20746864

>>20745478
Short selling only works if you manage to make someone else sell to you at least the same amount that you dumped for less than what you sold it for.

Instead they have to dump more to prevent the price from going up while everyone is buying their dumps and not planning on selling.
They can't buy anything, because it would cause the price to shoot up and have to resort to borrow always more Link to dump it on the market, and this only manages to delay their inevitable bankruptcy at the cost of increasing their future losses.

>>	Anonymous Mon Jul 27 17:21:45 2020 No.20746870 >>20741400 >LINK is now the #1 borrowed asset on aave checked Anon since AAve is a scam and/or let's assume that people who borrow Link they can't pay the loan back... isn't then risky to lend your stack?

>>	Anonymous Mon Jul 27 17:23:32 2020 No.20746925 >>20746870 Technically they already sold it for Simeon's BTC collateral.

>>	Anonymous Mon Jul 27 17:24:23 2020 No.20746948 >>20746870 It's incredibly risky. If this gets liquidated, even if they are paid out in equivalent deposit value in another token or cash, they miss the moon shot that such a liquidation would cause.

Anonymous Mon Jul 27 17:30:24 2020 No.20747152

Private banks usually call their borrower to get more collateral when they feel the heat.

Shouldn't AAVE increase their required collateral to borrow Link for this situation?
Nexo is going to destroy their platform's credibility if they don't do anything.
Did someone try to contact them to get a statement on twitter for example on this subject?

Anonymous Mon Jul 27 17:30:55 2020 No.20747170

>>20746864
I get this. I guess it depends on the terms of the LINK loan. If the interest is very low, then conceivably the owner of the short could buy back slowly without effecting the market much, while still yielding profit despite the interest. Very risky though, considering the upcoming conferences and past explosiveness of LINK price movements.

>>	Anonymous Mon Jul 27 17:31:54 2020 No.20747192 >>20746948 >they miss the moon shot that such a liquidation would cause could you make an example please? Maybe it's because I am a tard but I can't understand >>20746925 what does this mean?

>>	Anonymous Mon Jul 27 17:31:55 2020 No.20747194 >>20746948 >even if they are paid out in equivalent deposit value in another token or cash Is this true...?

>>	Anonymous Mon Jul 27 17:32:12 2020 No.20747203 File: 1.86 MB, 4004x3081, 1595616627064.jpg [View same] [iqdb] [saucenao] [google] >>20747152

Anonymous Mon Jul 27 17:32:29 2020 No.20747209

>>20743797
This is not how Aave works

When the LINK shorter/borrower's Loan to Value ratio reaches 70%, anyone can liquidate them

That means they provide LINK to the smart contract to cover Nexo's loan, and recceive Nexo's collateral, in addition to a 5-10% bonus

The person who deposits on Nexo will receive their LINK in any case

>>	Anonymous Mon Jul 27 17:32:56 2020 No.20747219 >>20747152 >Nexo is going to destroy their platform's credibility how

Anonymous Mon Jul 27 17:40:54 2020 No.20747438

>>20747192
>>20747194
Learn to defi you idiots

See:
>>20747209

Liquidators take care of that. Anyone can be a liquidator. Go to Aave right now, you will see a bunch of loans that you personally can liquidate.

Here's how it works, for dummys:

Link holder deposits $1k LINK on Aave and starts earning 1.5% interest

Link bear deposits $2k USDT on Aave and borrows $1k LINK and sells the LINK on binance. If his loan to value reaches 70% he can be liquidated, so if LINK appreciates 40%

Now lets say LINK rises 40%, and his LINK loan is now $1.4k or 70% of his collateral. He can now be liquidated.

So a liquidator takes this opportunity. The liquidator buys $1.4k worth of LINK and liquidates him. He provides $1.4k worth of LINK to cover the loan, and in return receives $1560 USDT ($1.4k for the LINK +10% bonus)

The loan is now closed.

Link lender still has his LINK
Link bear has his USDT that he sold LINK for on binance, plus his collateral that wasn't paid as a fee

Liquidator has his $160 fee

The only way this fails is if the LINK rises a further 30% before it can be liquidated

>>	Anonymous Mon Jul 27 17:45:49 2020 No.20747561 >>20741705 They have wBTC as collateral, so calculate from there I guess

>>	Anonymous Mon Jul 27 17:46:03 2020 No.20747569 >>20741400 >what's gonna happen? Someone is gonna get wrecked. That's what. You're either looking at a bunch of link chasers losing they're ass, or a short squeeze through the damn roof. No clue who will win. Good luck to all.

>>	Anonymous Mon Jul 27 17:46:50 2020 No.20747594 >>20742900 Yes, AAVE is smart contract protocol

Anonymous Mon Jul 27 17:52:32 2020 No.20747756

>>20747192
>>20747219
It's simple.
When Simeon borrowed Link from AAVE he exchanged this borrowed link amount for BTC he put on the platform as a collateral.
This means that if something bad happens, AAVE will have to compensate for the loses with this BTC put as collateral.
Until Simeon manages to return your borrowed Link from AAVE you only have his BTC stack available.

Now let's see what happens when Nexo runs out of funds and Link to dump.
They market dumped with leverage 23M LINK which could be compared to financing Chainlink for the next 3 years.
Sergey dumps 500k every week but this is probably goign to decrease to 300 or 250k dumps soon.
Now Nexo has a problem.
They need to buy back 23M link tokens if they want to get back their BTC used as collateral on AAVE.
But you can't find 23M link tokens on the complete market anymore as most of it was bought by new partners like China and Koreas banking system who want to run Nodes and need link as a long term investment, and add to this the Link marines and smaller traders trying to accumulate.
Nexo has no choice than to give up on its BTC put as collateral on AAVE.

Link's prince will increase a bit or Nexo can't pay the lending rate and AAVE triggers the selling of BTC collateral to buy the borrowed Link back.
But they run into the same problem as NEXO.
It's impossible to find 23M Link even if they use all the BTC assets they seized because nobody outside of Sergey has 23M link they could sell in such a short amount of time, and Sergey has no reason to do it after having betrayed by a business partner.

Now AAVE has a problem.
Their customers got scammed out of their Link stack while Link mooned, and got paid in dollar or a percentage of Link greatly inferior to their original stack.
After this event nobody will trust AAVE anymore and everyone will want to remove their funds from them before the class action lawsuits against them starts and they go bankrupt too.

>>	Anonymous Mon Jul 27 17:52:47 2020 No.20747761 >>20742418 >This means he sold you stack and left a collateral on AAVE. Why shuld he do this? Can't simply short with his money?

>>	Anonymous Mon Jul 27 17:53:09 2020 No.20747772 >>20747438 I mean, if LINK moons really fast, it still seems risky. What if it skyrockets and it becomes unprofitable to buy LINK to liquidate someone?

>>	Anonymous Mon Jul 27 17:54:08 2020 No.20747805 >>20747756 Small mistake there. Sergey dumps 500k every 2 weeks, but this amount decreased once from 700k before when Link's price went up.

Anonymous Mon Jul 27 17:57:56 2020 No.20747927

>>20747761
There is not enough Link liquidity available on the market, and Nexo doesn't have a multiple million big Link stack they accumulated in the last 3 years to dump.
If they try to accumulate it would make the price go higher.
The only way to add liquidity is by borrowing from lenders.

He wants to put more selling pressure by increasing the amount of Link available for buyers on a very short term.
Imagine selling all mined silver for the next 3 years in a 2 weeks time frame by borrowing from banks.
Because the buyers usually buy a fixed amount it would decrease silver's price for a short amount of time until it corrects back to its average value after buyers bought more silver due to it being cheaper and new buyers bought cheap silver.

>>	Anonymous Mon Jul 27 18:00:36 2020 No.20748005 >>20747756 its not 23M link tokens, it is 3M link tokens, currently worth around $23M

>>	Anonymous Mon Jul 27 18:00:37 2020 No.20748006 >>20743323 They used wrapped BTC as a collateral though.

>>	Anonymous Mon Jul 27 18:00:53 2020 No.20748014 >>20747761 This is not like the paper silver/gold market where you sell paper contracts for gold/silver instead of the true asset. If you want to short Link you have to sell it and not a paper contract of it based on dollars.

Anonymous Mon Jul 27 18:01:01 2020 No.20748017

>>20747756
>Their customers got scammed out of their Link stack while Link mooned, and got paid in dollar or a percentage of Link greatly inferior to their original stack.
Thank you
I will avoud Aavee
How is it possible that many anons lend their Link there?
Also another question.. I see many platform on DEFI puls where I can yeild farm with usdt and get a 7% per year... (example staking stable coin)
are they the same as this Aave casino' or are they safer?

>>	Anonymous Mon Jul 27 18:07:47 2020 No.20748212 Anyone have the Nexo etherscan url so I can see the tx where they borrowed link from aave?

Anonymous Mon Jul 27 18:07:55 2020 No.20748220

>>20747170
It's not only risky, they already lost more money than they could afford to.
You don't borrow more Link to dump if you initial dump was successful.
Only if you fear going bankrupt and hope the second time it will work.

>>20747203
Great work!
That's very good information to be used in a future lawsuit against the company.
This proves Nexo's Kiril Nikolov who is Nexo's sales executive is also part of this market manipulation and implicates the complete company together with Simeon in this scam.
By protecting him and denying he is not part of Nexo, while hiding their short selling it removes all possible doubt of their implication.

>>	Anonymous Mon Jul 27 18:09:01 2020 No.20748262 >>20748017 Its not that dramatic, he mixed up the amount of link tokens and the dollar price of them. Aave has only 3.1 million links borrowed out, not 23 million.

Anonymous Mon Jul 27 18:09:17 2020 No.20748272

The fact that there are niggers itt who don't understand the different between a platform such as nexo (cefi) and a platform such as aave (defi) makes me even more bullish for defi
We are still early brehs hope you stock up on lend in this dip we are going to 1$ then 5$

>>	Anonymous Mon Jul 27 18:12:04 2020 No.20748365 >>20747756 They didn't sell anything close to 23m link. There's plenty left on the market for them to rebuy and chances are they already have and closed their shorts massively in profit.

>>	Anonymous Mon Jul 27 18:14:14 2020 No.20748448 what ever simeon borrow link and short it and give me high interest on link

>>	Anonymous Mon Jul 27 18:14:28 2020 No.20748456 >>20741400 >what's gonna happen? the supply is going to vastly get sucked up and price will skyrocket

>>	Anonymous Mon Jul 27 18:14:50 2020 No.20748467 >>20748365 We need to be able to see the short and tx to know for sure. We know they sent it to binance, but can anyone confirm price they get liquidated? I keep asking and no one answers

>>	Anonymous Mon Jul 27 18:15:09 2020 No.20748479 >>20741400 Literally dumping

Anonymous Mon Jul 27 18:17:11 2020 No.20748531

>>20748017
In our current situation the short term rate of US debt treasury yield defines the % of profit you get from lending "without risks"
This is currently less than 1%.
All Defi platforms perform with the same business model, the only difference being the % you can borrow with your collateral.
For crypto this should be at least less than 25% because crypto is very volatile.
A platform giving higher borrowing rates like 50/60% is not safe.
This can be seen in the higher % of profit you can make by lending your assets to the platform.

A 7 % risk in our current environment means you have one of the most dangerous investments in the world and an extremely high probability of losing a part of your assets.

>>20748005
If you add up all the Link Nexo scammed people to borrow like them to short Link with their Zeus capital report and add the extra X5 margin used on Binance to short sell it can be even more than that.

Anonymous Mon Jul 27 18:17:30 2020 No.20748547

>>20747438
What? How can buying $1.4k of link raise the whole market price enough to liquidate the shorter? Why would the shorter have any of his collateral left?

I also don't even get the purpose of borrowing, it's just selling high, buying low - why not just do that without the middle man and fees.

>>	Anonymous Mon Jul 27 18:18:36 2020 No.20748587 File: 26 KB, 480x480, punished.jpg [View same] [iqdb] [saucenao] [google] Tell me straight /biz/ is LINK done for?

Anonymous Mon Jul 27 18:18:52 2020 No.20748600

>>20748467
I dont think you can find out about what happens inside binance, but they definitely did not borrow 23m link tokens, there is only 3.1 million link tokens loaned out on aave right now. that other anon just mixed up the amoun of link and the dollar price

>>	Anonymous Mon Jul 27 18:19:38 2020 No.20748627 >>20743580 fucking kek

>>	Anonymous Mon Jul 27 18:22:00 2020 No.20748704 >>20748587 No. Its not. You should dyor

>>	Anonymous Mon Jul 27 18:23:11 2020 No.20748745 >>20748467 I don't think there is, if they're using the same wallets to borrow and dump to binance that could be seen and if it was the same would imply they are still in the position. I haven't got the wallet address anymore to see.

>>	Anonymous Mon Jul 27 18:23:35 2020 No.20748759 Anyone else gobbling any LINk at sub $6?

Anonymous Mon Jul 27 18:24:19 2020 No.20748773

>>20748467
We will only know when they get liquidated or if someone with access to Binance's internal data gives this information.
We could try to make some calculations based on the time frame they borrowed more Link and when they dumped added with the lending rate.

But this now makes me think of another problem.
If a short squeeze happens on binance and they allowed Nexo to use a X5 short selling margin rate when that happens, they will also face the same problem as AAVE.
They won't be able to buy back the Link Nexo used to short and will also face the same issue as AAVE and Nexo.

I will have to look this up, but what does binance use for their margin program?
How does it work?
Do they need a collateral and with what %?

Do they use all the available Link on their platform, their own private stack, or can a private person take part in this and lend for margin selling/buying.
This may even put in danger people who only keep their stack on binance if it's not from another group.

>>	Anonymous Mon Jul 27 18:25:06 2020 No.20748798 >>20741537 No, this is exactly what collateral is for.

>>	Anonymous Mon Jul 27 18:25:33 2020 No.20748810 >>20748745 Someone please share wallet addy, I'm looking for it Is this it? https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x65b0bf8ee4947edd2a500d74e50a3d757dc79de0

>>	Anonymous Mon Jul 27 18:28:35 2020 No.20748922 File: 672 KB, 993x765, 1583446405863.png [View same] [iqdb] [saucenao] [google] is link behaving inversely to btc?

>>	Anonymous Mon Jul 27 18:30:05 2020 No.20748974 >>20747756 >China and Koreas banking system who want to run Nodes and need link as a long term investment They bought LINK? Is this for certain?

>>	Anonymous Mon Jul 27 18:30:17 2020 No.20748983 >>20748810 Not sure, i'm not good at reading these things. It seems to have started taking in link 19 days ago so i don't know how that lines up. You want to find a nexo wallet going to binance.

>>	Anonymous Mon Jul 27 18:32:10 2020 No.20749039 File: 12 KB, 841x325, linkexchangesupply.png [View same] [iqdb] [saucenao] [google] Doesn't look like we're near any shrinking exchange supply really.

Anonymous Mon Jul 27 18:32:58 2020 No.20749072

>>20748798
Collateral only works if you have enough of it and can buy back the asset you lent...
If your house may suddenly lose 30% of its value and you have a credit on 80% of its initially estimated value you will get a call from your bank.
That's what a professional would do.
The fact that AAVE allows such a high collateral rate of 65% when Link just did a x4 in less than a year shows how incompetent they are and how much they really care for their customers assets.
For them it's not a problem if someone gets liquidated because they make huge commissions of it with massive profits.
You are not really a customer for them but a walking wallet to be used and emptied as fast as possible.

>>	Anonymous Mon Jul 27 18:35:36 2020 No.20749159 >>20742723 You dont have a clue how AAVE works, do you?

>>	Anonymous Mon Jul 27 18:35:42 2020 No.20749163 >>20749072 But the liquidation is instant long before your collateral gets near the value loaned.

Anonymous Mon Jul 27 18:36:03 2020 No.20749179

>>20748974
I didn't mean China's banking system, but only Korea's banking system and a platform working for China's government integrating Link.
There should have been news in the last days.

https://cryptoticker.io/en/chainlink-partners-bsn/

https://cointelegraph.com/news/chainlink-brings-fx-rates-data-from-top-korean-banks-to-defi

Anonymous Mon Jul 27 18:39:16 2020 No.20749272

>>20749163
>>20749159
Does AAVE use the ETH blockchain for its transactions?
How does it send back the BTC collateral to an exchange while liquidating to buy a few million Link in a nanosecond when Binance requires a multiple block confirmation time for deposits?
How does it make liquidity magically appear on an exchange?

Anonymous Mon Jul 27 18:40:44 2020 No.20749322

It's crashing so you just borrow link to dump on the market while you're 100x shorting. You make more money than the link is worth and walk away from your collateral. The people who lend the link end up with BTC and if they want link (unlikely if you're lending it) then you just buy back, probably more link than you started with because these guys crashed it with all the link they could get their hands on for a big profit. Only when all the borrowed link runs out does the correct slow down... at least we can all buy more at $4.

>>	Anonymous Mon Jul 27 18:40:52 2020 No.20749324 >>20749163 It is not instant though, someone needs to liquidate you. And if LINK was mooning, it could shoot right past the point of profitable liquidation before a liquidator could take care of it.

Anonymous Mon Jul 27 18:41:01 2020 No.20749327

>>20748773
>This may even put in danger people who only keep their stack on binance if it's not from another group
Sorry to bother you, but how will people's binance stacks be effected? Surely binance won't use the stacks of private individuals to pay back loaned LINK?

>>	Anonymous Mon Jul 27 18:44:56 2020 No.20749463 >>20749272 When you take out the loan it buys your assets with the collateral. So there is no pump from a liquidated loan as the asset is already there. There is only a dump if the loan is repaid in full.

Anonymous Mon Jul 27 18:46:49 2020 No.20749527

>>20749327
I don't know.
I am trying to check this out.
This should be available information on their website.
The result depends on who is taking on the risk of not getting his loaned Link back.

I think Binance would try to pay for the losses to keep its reputation if the amount is not too big.
I think they payed back lost cryptos to people who got their password and their funds stolen in the past.

Anonymous Mon Jul 27 18:52:17 2020 No.20749688

>>20749463
Do you have a link explaining this process?
That can't work well if the different asset values fluctuate between the time they buy the asset with the collateral and when they get paid the loan back.

Let's say you buy 100 Link with a 1 BTC collateral and lend 100 Link.
The lending platform now has 200 Link and 0.3 BTC.
Now the borrower returns the borrowed 100 Link.
The platform has 200 Link and 0.3 BTC and needs to sell these 100 Link to buy back the 0.7 BTC to give back the 1 BTC used as collateral.

But BTC went up by 10% during this time.
It can only buy back 0.63BTC with this 100 Link amount instead of 0.7 used initially to buy the 100 extra Link.
Who covers the lost 0.07 BTC?

Anonymous Mon Jul 27 18:56:09 2020 No.20749817

>>20749072
You don't understand how AAVE works, anon. If you do understand how it works, then you're actively spreading misinformation and untruths, which leads me to question your motives. Someone in bed with NEXO would likely cast similar aspersions at AAVE, given what all has transpired.

Anonymous Mon Jul 27 18:57:03 2020 No.20749844

>>20749327
It seems binance offers margin funding so we should be safe.
https://academy.binance.com/economics/what-is-margin-trading

>For investors who do not have the risk tolerance to engage in margin trading themselves, there is another way to profit from the leveraged trading methods. Some trading platforms and cryptocurrency exchanges offer a feature known as margin funding, where users can commit their money to fund the margin trades of other users.

>>	Anonymous Mon Jul 27 19:00:52 2020 No.20749971 >>20749844 Ill take a look, thanks

Anonymous Mon Jul 27 19:03:26 2020 No.20750053

>>20749817
I am almost certain you are working for AAVE or a similar platform and using multiple IPs to make it look like multiple persons.

Please give arguments based on provable facts with linked articles explaining the whole process instead of trying to manipulate your way out of honest questions.
Until now you only attacked me personally with no proof to back it up.
This behavior can be compared to Simeon's constant shills happening since he started his dumps.

And yes AAVE could be in bed with Nexo seeing as how they profit from lending to them and may also get in trouble because of them.
Thus it makes sense people profiting from Defi platforms would try to support his scam.

>>	Anonymous Mon Jul 27 19:09:36 2020 No.20750256 >>20741400 literally the same thing that happened to BAT: 15% to 20% drop

>>	Anonymous Mon Jul 27 19:13:25 2020 No.20750376 >>20743580 Oh boy

>>	Anonymous Mon Jul 27 19:47:02 2020 No.20751368 >>20749272 Obviously instant means as soon as possible, which is short. Converting btc to eth is easily automated and quick.

Anonymous Mon Jul 27 19:48:46 2020 No.20751427

>>20749817
I don't care what you think AAVE does. If 3 million LINK tokens have been lent out for short positions, if those positions get liquidated, there is no way for them to get 3 million LINK tokens back to the depositors. The short squeeze would cause the price to rocket until such point that they run out of capital trying. LINK has a high amount of holders unwilling to sell at any price we have been to and that makes it very ripe for a short squeeze. We already had one that shot us up past $8 the first time. $ Millions got liquidated on that. This time, it could be insane. But whatever, I only stand to benefit from it, so keep it up. I'm not retarded so I'm not shorting LINK.

>>	Anonymous Mon Jul 27 19:52:30 2020 No.20751548 File: 359 KB, 640x636, 1595539333217.gif [View same] [iqdb] [saucenao] [google] >>20741477 Thank you based time traveller

Anonymous Mon Jul 27 19:57:50 2020 No.20751698
File: 30 KB, 400x400, 1595420543835.jpg [View same] [iqdb] [saucenao] [google]

Blue and Green IDs make it
Dubs kicks off the short squeeze
Trips kicks off the run to 1k
Quads kicks off the singularity
Quints get a handshake from Sergey on the yacht party

>>	Anonymous Mon Jul 27 20:10:53 2020 No.20752064 it feels like you're all trying to will a short squeeze into reality c-can it be done?

>>	Anonymous Mon Jul 27 20:12:55 2020 No.20752109 File: 71 KB, 500x402, 1595246214231.png [View same] [iqdb] [saucenao] [google] >>20752064 Of course fren. You just have to trust in the plan and in Sergey. Or throw lots of money at it. Remember, we are ALL going to make it here.

>>	Anonymous Mon Jul 27 20:30:42 2020 No.20752596 IF YOU DEPOSITED LINK ON AAVE WITHDRAW IT RIGHT FUCKING NOW

>>	Anonymous Mon Jul 27 20:33:09 2020 No.20752657 >>20749817 How does it work then fuckhead? >>20750053 >>20749844 This anon gave multiple in-depth posts while you're shitting up this thread with your "muh defi different"

>>	Anonymous Mon Jul 27 20:34:12 2020 No.20752680 >>20752596 Short AAVE on binance and thank me later lmao

>>	Anonymous Mon Jul 27 20:34:54 2020 No.20752693 >>20752596 I tried earlier and it wouldn't let me. it just kept spinning on the submit button. :0

>>	Anonymous Mon Jul 27 20:37:08 2020 No.20752744 >>20752064 >>20752109 Squeeze his hand off! https://m.youtube.com/watch?v=AtouuLkFvzo

>>	Anonymous Mon Jul 27 20:38:22 2020 No.20752777 >>20752693 Insane if true. This whole defi house of cards is coming down thanks to Bulgarian Gypsy Jew rats

>>	Anonymous Mon Jul 27 20:38:25 2020 No.20752778 >>20752744 based Dougie

>>	Anonymous Mon Jul 27 20:38:28 2020 No.20752781 >>20751698 made it. squeeze time

>>	Anonymous Mon Jul 27 20:39:31 2020 No.20752800 File: 125 KB, 900x900, 1594919885684.jpg [View same] [iqdb] [saucenao] [google] >>20752064 Yes.

>>	Anonymous Mon Jul 27 20:39:58 2020 No.20752811 File: 120 KB, 1121x477, 1595633433187.jpg [View same] [iqdb] [saucenao] [google] >>20751698 I NEED A FUCKIN S H O R T Q U E E Z E LETS GO BOYS

>>	Anonymous Mon Jul 27 20:41:58 2020 No.20752863 >>20741400 Think 1 or 2 steps ahead, anon https://twitter.com/ChainlinkBull/status/1287221643920543744 Those who know, know YFI will go to $100k in a year

Advanced search
Text to find
Subject [?]Search by post subject. Leave empty for any.
Username [?]Search for user name. Leave empty for any user name.
Tripcode [?]Search for tripcode. Leave empty for any.
Email [?]Search by email. Leave empty for any.
Filename [?]Search by image filename. Leave empty for any.
From Date [?]Enter what date to start searching from. Format is YYYY-MM-DD
To Date [?]Enter what date to start searching until. Format is YYYY-MM-DD
Image hash
Search in	All Posts OPs Only
Deleted posts	Show all posts Show only deleted posts Only show non-deleted posts
Internal posts	Show all posts Show only internal posts Show only archived posts
Order	New posts first Old posts first
Capcode	All Posts Only by Users Only by Mods Only by Admins Only by Developers
Results	Posts Threads
Action	[ Simple ]

/biz/ - Business & Finance