we reach less than 0.5?
How do we know when the 24hour is finished? Where is the countdown timer?
There isn't one. you have no way to know when you your score dropped below 1 and no when to know when the liquidation will actually happen. If you log in every day and see that you have a score below 1 then top up or cash out and pay the fine. Don't take the risk as you have no way of knowing what timing the system is using in the backend to wipe you out.
So COTI don’t provide your entry price, liquidation price, countdown to liquidation, stop losses…. Absolutely disgusting duty of care for their “community”! They are clearly doing everything they can to encourage liquidations and make it as easy as possible for miscalculations or mistakes to occur that can lead to liquidation. Maybe I’m wrong (correct me if a am) but I don’t know of any project operating like this.
Those features should have been included in V1 of the Treasury,this is money we are talking about but anyway that's typical COTI for you.
This isn’t how they portray themselves at all! “All about the community!” Bullshit
Everyone knew what the features where when they decided to enter the Treasury . People take the risk that they feel comfortable with. No point in blaming the team. If you won't feel happy taking the risk then don't. That's why we have an X1 option
We all held COTI for a long time waiting for the treasury which was sold as the all singing all dancing answer to everything. Liquidation risks on barely double figure APY’s was not what most expected I’m sure! No point blowing smoke up their butt and ignoring facts either! To say that they can develop the whole treasury and are not able to add “entry price”, “liquidation price” “grace period countdown” on V1 is a planned tactic and not a limitation! If they provided the details I stated in a previous message then the risks are INCREDIBLY reduced for even the least savvy investors!!
I agree that the front end should have had this before multipliers above X1 were added as the system already knows these amounts for each deposit as it needs them for displaying risk. Me giving the team the benefit of doubt would say that they were up against a tight deadline and wanted to hit end of month date they had given so no all features made it. If was being skeptical I would say that as APY decreases they need more liquidations so went with the lesser feature set to increase APY to make the majority of stakers happy by liquidating a smaller set. Good thing I'm not skeptical lol
High risk high rewards. Own choice. Otherwise stick with 1x. You want more, you risk more.
Didn't you know all of this when you went in? Wasn't it clearly communicated that doing a multiplier brought a certain risk with it? Didn't that trigger you to do your due diligence? I mean it sucks the price is going down, but you took a risk, you can't come crying when markets go down and your about to loose money... Just my two cents....
You can state your opinion without disrespecting the community or any member of the community.
I was aware of all of this on the day the treasury opened, yes. I read the pre release article with the screenshots of over 1000% apy (could be wrong on that but it was a LOT higher than the starting apy) and thought, ok for this level of APY liquidation risks seem fine. I think it’s safe to say that if you are at all involved in defi the current rates and associated risks aren’t very appealing. All of my COTI was bought at much lower prices and I’m personally not about to lose any money. But for inexperienced investors it’s a highly dangerous system set up to make liquidation as easy as possible. This group is full of confusion on the subject of liquidation.
Newcomers are free o ask questions and get more information from us. They staked in treasury on their own risks. Of course we will update the treasury so it will be easier for new users, but time is needed.
It is the responsibility of those that leverage trade to understand the risks and ask question before they use it. Theres a lot of documentation everywhere on how leverage works in crypto and COTI.
With the current apy ,i think the risk outweigh the benefit.
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