🥂 marquis de posade 🏖

propagate. accelerate. concentrate. separate. debilitate. annihilate. exhilarate.

[🥂 marquis de posade 🏖 @acczibit]

Alright I'm ending my year-long Twitter break

[Kevin Sorbo @ksorbs]

If Kamala really is black, have her say the N-word, let the people decide for themselves.

[🥂 marquis de posade 🏖 @acczibit]

RIP king you died for a good cause (War Thunder balancing)

[🥂 marquis de posade 🏖 @acczibit]

RIP king you died for a good cause (War Thunder balancing)

[BBC Breaking News @BBCBreaking]

Wagner boss Yevgeny Prigozhin killed in plane crash in Russia, with nine other people on board also dead https://t.co/MyWc67NhPa

[🥂 marquis de posade 🏖 @acczibit]

Malaysia sends its regards

[AFP News Agency @AFP]

#BREAKING Ten dead in a plane crash between Moscow and Saint Petersburg: emergency services

[🥂 marquis de posade 🏖 @acczibit]

Jumped by an entire posse of Norwood reapers

[🥂 marquis de posade 🏖 @acczibit]

Jumped by an entire posse of Norwood reapers

[Doug @GirlsDislikeMe]

How does this even happen

[🥂 marquis de posade 🏖 @acczibit]

When Fuhrer speaks, I sit my ass down and listen

[🥂 marquis de posade 🏖 @acczibit]

@rfitz77 If you can't trust the Fuhrer, who can you trust

[🥂 marquis de posade 🏖 @acczibit]

>Russian founder
>people actually put money in this

[Autism Capital 🧩 @AutismCapital]

Curve Hack, Liquidations, DeFi, and Contagion Spiral
Dropping The Soap (Curve Edition) 🧵

Several months ago, the Russian founder of Curve, Michael Egorov, took out a $100m loan on AAVE to purchase this ultra tasteful (🤮) house in Australia. He used $280M of CRV (at the time) as collateral for this loan.

Unfortunately for Michael, Curve was hacked two days ago.

The hacker made off with millions of dollars. Bad, right? This was just the beginning of Michael’s troubles.

The hacker has about 7 million CRV in his wallet, which, by itself, wouldn’t be a problem - there’s enough liquidity in the markets to handle a 7m CRV market sell.

The REAL problem is that everybody knows Michael’s in trouble, and this is creating a reflexive feedback loop of dumping as people stop hunt Michael’s CRV position.

CRV is currently dumping like a shitcoin that’s getting text messages from Gary Gensler.

Stop hunting isn’t the only issue though - as @Delphi_Digital astutely points out here:

https://t.co/KF4uVTBLza

The APY on Michael’s Fraxlend position is doubling every 12 hours. This means that he’ll be liquidated in a few days if nothing changes and 59 million CRV will be dumped on-chain. There isn’t nearly enough liquidity to handle a 59m market dump, but this would STILL just be the beginning of the fun.

If Michael gets liquidated by Fraxlend, all of his other debt positions will be liquidated too.

This likely means Inverse Finance (INV) and Magic Internet Money (MIM) will both die due to the new bad debt, and Aave will get stuck with $63m of bad debt.

This means they’ll have to sell $63m of Aave on the open market to pay it off. Fortunately, Aave’s safety fund is currently around $330m, which is more than enough to pay off the bad debt even with market slippage.

Michael’s position can be viewed here: https://t.co/1JmsyQVcmN

In the last 12 hours alone, he’s lost $50m due to CRV’s declining price.

Michael’s liquidation prices for CRV are approximately $0.38-$0.40

As of the time of this tweet, CRV is currently trading at $0.50.

A week ago, it was worth $0.72.

In one sense, this is proof that DeFi works as intended. There are no special rules or bailouts, no matter who you are. It’s a brutal free market governed by math and code.

In another sense, it’s a black eye for the industry at exactly the wrong time, and could easily set us back by months/years as skeptical boomers who were thinking of dipping their toes back into the DeFi waters get scared off by its Wild West nature.

Either way, 🍿

[🥂 marquis de posade 🏖 @acczibit]

"Fauci, we have to cook."

[🥂 marquis de posade 🏖 @acczibit]

No longer interested in the Concorde revival

[Ron Eisele @ron_eisele]

P-38 with a casevac pod under each wing. 1945

[🥂 marquis de posade 🏖 @acczibit]

?

[🥂 marquis de posade 🏖 @acczibit]

Worm alive in Serbia. Fast rap worm Serbia

[🥂 marquis de posade 🏖 @acczibit]

"Fauci, we have to cook."

[KRON4 News @kron4news]

"I’ve never seen anything like this": Large-scale illegal medical lab complete with bioengineered mice, infectious agents, incubators, and nearly 30 refrigerators and freezers discovered near Fresno. https://t.co/XKhQZLZTLQ

[🥂 marquis de posade 🏖 @acczibit]

Whenever people QT and talk about a new A*lla post

[🥂 marquis de posade 🏖 @acczibit]

"We didn't, yet."

[🥂 marquis de posade 🏖 @acczibit]

Remember Threads

[🥂 marquis de posade 🏖 @acczibit]

Whenever people QT and talk about a new A*lla post

[Elise Joshi @EliseJoshi]

I just mustered up every ounce of courage to interrupt White House Press Secretary @K_JeanPierre and urge the Biden Administration to stop approving new coal, oil, and gas projects.

The climate crisis is here now. @POTUS, listen to Gen-Z, scientists, and frontline communities

[🥂 marquis de posade 🏖 @acczibit]

@Atristolfo Sim City 2000

[🥂 marquis de posade 🏖 @acczibit]

"We didn't, yet."