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So for example, in some big liquidation, like what happened

in luna ang celsius will not effect on INJ itself ? but to those who have created there own exchange, right ?

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Injective is completely different than Celsius and Luna. Liquidations are part of the derivatives dex offered by Injective, but that only affects the users which are being liquidated. Injective is a L1, completely descentralized, and the exchanges built on Injective are basically frontends providing access to this descentralized network. None of them have access to your funds

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