Another day, another zero knowledge Proof of Reserves.
Because we do real time perps settlement on all positions, physical cash changes hands between all longs and all shorts at all times.
As a result, the proof accounts for not only spot balances, but also all open PnL.
@MartiniGuyYT I had a similar flight landing in Athens the other week. The pilot bailed on first attempt and started heading out to sea before coming back to land was absolutely shitting myself
Why is @Backpack is so conservative? Folks want bigger position sizes, larger limits, more borrows, and higher leverage.
I do too. We'll get there--but with zero tolerance for unnecessary risk. Some risk, sure, as mistakes are inevitable. But if there's one thing I want to be known for, it's for being boring, slow, and safe.
One only need look at the many examples of irresponsible risk management to understand why. Risk doesn't matter until it's too late. You don't earn brownie points for being boring, but you do earn points for staying alive.
In this business, only the paranoid survive.
I haven’t sold a single $SOL since buying at $8.
In fact, I have added to my bags.
This is “Long Your Long” season.
$SOL to $2,000.
Also bought more grail @MadLads