Anybody know what happens when you get a margin call

In a normal case you have to contact the loan department and add funds or else they will sell a part of your collsteral. Enough to bring the tvl back to above margin call levels. Liquidation means they close your loan and sell everything you have in colleteral.

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19.06.2022

Quetzal Автор вопроса

David Permabear Junior
In a normal case you have to contact the loan depa...

I get that but the margin call was at 930 now Eth is at 993, so does that mean that my margin call goes away?

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19.06.2022

AD

You still have to bring your LTV back down to your contracted level within 24 hours or you'll get liquidated which means they sell off enough crypto at current price to cover your loan + 3% fee.

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19.06.2022

Al MicMac

Quetzal
Nope, liquidation at $756. Margin cal is asking me...

But they won’t sell above 756 surely?

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19.06.2022

Quetzal Автор вопроса

Al MicMac
But they won’t sell above 756 surely?

At this point, I have no idea what they will or will not do.

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19.06.2022

Al MicMac

Quetzal
At this point, I have no idea what they will or wi...

I’m thinking liquidation price should be the figure that triggers it. The call is to give you time… IMO

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19.06.2022

David Permabear Junior

Quetzal
I get that but the margin call was at 930 now Eth ...

In my case it went away, cause withing the 24 hours the price restored itself. Normally i would advice to add collateral. But since funds are locked and no one knows if we ever get them back its a different question But for the time being you should be safe tho

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19.06.2022

El Guero

Quetzal
At this point, I have no idea what they will or wi...

They will not do anything till you reach your liquidation price

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19.06.2022

Quetzal Автор вопроса

David Permabear Junior
In my case it went away, cause withing the 24 hour...

True

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19.06.2022

DJ OnPhilly

Just spent the last two hours on hold to talk to loan department They gave me custody addresses to use to add assets to either meet the margin call or close the loan Options are simple Add collateral Pay the loan off Have assets sold to rebalance the LTV ratio Choice is yours...

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19.06.2022

Zlem

DJ OnPhilly
Just spent the last two hours on hold to talk to l...

yeah but both option dont give your collateral back

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19.06.2022

DJ OnPhilly

Zlem
yeah but both option dont give your collateral bac...

Whenever you give up your keys you run the risk of total loss Main thing is to manage your own risk in case those you decided to "trust" don't manage theirs properly... I'll gladly give dirty fiat today for the more possibility of getting my pristine collateral back "tomorrow" But, at the end of the day...

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19.06.2022

DJ OnPhilly

Zlem
yeah but both option dont give your collateral bac...

But at the end of the day...

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19.06.2022

Zlem

DJ OnPhilly
But at the end of the day...

i dont think we deserve this, chill

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19.06.2022

DJ OnPhilly

Zlem
i dont think we deserve this, chill

You gave up your keys didn't you? That means you opened up yourself to the possibility The trick is to not give up the whole bag If you did Then you are getting the lesson you needed...

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19.06.2022

CR COMM

DJ OnPhilly
Just spent the last two hours on hold to talk to l...

But you still can’t withdraw your coins from Cel platform!! What is the point of adding more funds/coins to set off loan!! Lose more??🤣

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19.06.2022

Moon

CR COMM
But you still can’t withdraw your coins from Cel p...

It's just a temporary pause

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19.06.2022

CR COMM

Moon
It's just a temporary pause

This is being told to everyone… who will stop them from filing bankruptcy..?

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19.06.2022

Quetzal Автор вопроса

DJ OnPhilly
Just spent the last two hours on hold to talk to l...

So basically they provided the custody account to you instead of in the app? Why aren’t these options available on the app so I can resolve it. This whole calling in and waiting two fuckin hours is ridiculous.

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19.06.2022

Andrew Kulp · Accepted Answer

Andrew Kulp

Margin call mean you liquidated. They will sell at $930 once reached

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19.06.2022

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Anybody know what happens when you get a margin call

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