price so it becomes unreachable?
better pay it off..
That is my thought. The better they can bring it down into the realm of impossibility (for whales to liquidate them), the better off they are. Psychological games maybe. At the very least it buys more time to get other things in order.
What confuses me, but I might be wrong, is that yesterday they were adding to the collateral and today they are reducing the amount of debt also lowering the liquidation threshold?
maybe they wanted to keep sttables liquid, so they just added wbtc instead of paying own stables
Add collateral to prevent liquidation, paying off the loan so can access the bitcoin
Are they also having to balance the taxable events as they move/convert money?
But wouldn't make more sense to only reduce the amount of the loan from the beginning?
They didn't have the dai at the time, generated from short squeeze
My guess is they are using deposits to add collateral but their own funds to pay off the loan
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