hard liquidated during this crash. Problem was: Repay didn’t work although they where live in front of the computer.
-> what could be the issue, that repay didn’t work?
what do you mean didn't work? personally was here all weekend and i don't recall any reports of people not being able to repay
Oracle got to quick thru bands (4 bands). When position was in soft liquidation, price dropped to quick and repay didn’t worked (wasn’t finalized)
4 bands, high leverage, during volatility can easily erode health very quickly but of the thousands of users we have ser, i cannot name one case this past weekend that a user had issues repaying a position.
Interesting. What would you say is the edge case in this situation? If you start with 4-5% health factor into soft liquidation this this tight of course. Is there any possibility to calculate the min health factor in a situation like last weekend?
4-5% puts you right on the edge of SL with a very tight range using 4 bands. personally i wouldn't do it. something like 80% of the time (made up number) it's doable if you're managing it constantly but the remaining times when markets see crazy volatiliy like this past weekend, you're essentially gambling and it's easy to back yourself in a corner in only down mode where you having to continuously repay. Personally, i would utilize less leverage, higher bands making losses in SL much smaller, more manageable and overall safer.
Yes I know the risk and what it means for position management. The only thing I don’t get is, why repay didn’t (not properly) work in this case? Typically repay work like a charm
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