How is that possible that there are people who claim

Question

How is that possible that there are people who claim

that the situation with increasing of the collateral min. level for mKO was fine? These claims just show ignorance. Also ignorance in finance and DeFi. this handling was just not right. And there are many reasons for that. First, major, in the running financial system you cannot just increase collateral min. level because you cause liquidations! That is wrong way of handing to low level. Secondly, it is normal to change some settings of strategies in finance, for example rates, or provisions, but it is done from the future, and it doesn't affect the past. Thirdly, in DeFi, it is also normal to modify contracts to fix bugs or bring new features. But a normal way is to deactivate a current farming contract, deploy a new one, and migrate! Then people don't loose money in DeFi.

#cryptocurrency #english #mirror.protocol

0

15.04.2022