What do you think about this ? Example, you supplied

Question

What do you think about this ? Example, you supplied

100USDT and borrowed 85 USDC then believed they were stable, then one night, they changed its collaterals factor from 90% to 80%, all your USDT would be liquidated. too dangerous !

#blockchain #cryptocurrency #english #kava

0

23.05.2023

6 ответов

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Ngan Tran Автор вопроса

Cameron | Kava (I will never DM first)
Have you shared your concern with Mare Finance yet...

yes, I will share. they are the most using platform at Kava EVM now, so I will also share here

0

23.05.2023

keiske - ScrubMoney

They will give a week to pay back the difference

0

23.05.2023

Vi

This will be implemented to make the protocol more safer for everyone and to enable sustainability. Please read and understand the justification for this action. Also note that it would not be an overnight change. The implementation will be in at least 1 week to enable users to repay and modify their borrow limits. A safer MARE is a better MARE.

0

24.05.2023

Sierra Golf

Vi
This will be implemented to make the protocol more...

kava tried the same with usdx and in the end didn't end up doing it. I suspect because they were afraid of the fallout if the protocol force liquidated assets. this is one of the great issues with crypto lending, that LTV ratios cannot easily be adjusted downwards and there is no direct communication with individual borrowers possible other than telegram, discord and other group channels.

0

24.05.2023

Ngan Tran Автор вопроса

Vi
This will be implemented to make the protocol more...

i know, but the way they gave annoucement was so ambiguous. Such important thing should be posted in a seperated annoucement, or even on the website with a warning text and included in a schedule to implement.

0

24.05.2023

Cameron | Kava (I will never DM first) · Accepted Answer

Cameron | Kava (I will never DM first)

Have you shared your concern with Mare Finance yet?

0

23.05.2023

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What do you think about this ? Example, you supplied

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