Shoutout to @Lighter_xyz for refunding losses caused by the $SKHYNIX adl last week
One single share print on the Korean pre-open market sent the oracle ~30% below its real price. The Korean market reverted immediately, but the perp dex oracle wicked down which auto-deleveraged my long at a 967 fill, 13% below my 1115 stop, force-closing an unrelated position and wiping my entire balance through cross margin
The Lighter team reviewed it and refunded the full difference (@tradexyz did the same for their users, shoutout to them too)
Making international markets tradable 24/7 is no easy task. Backing users when things go wrong is very important and not common enough in this industry
Ty for the help @22twixy@vnovakovski
@dawnnitee@hyperbulla Luckily we are positioned with dumpster loads of Variational points and actively earning more on code OMNIDAWN for max benefits π
@theboomox@Polymarket Good take from you as usual
The Polymarket narrative looked much more exciting around the 2024 election when they beat polls in accuracy
Now they seem to exist purely as venues for insider trading + onboarding people who should NOT be gambling (addicts, children, etc)
Give out $220 through onboarding promo β> make it difficult to withdraw to incentivize gambling β> wait 2 days then drain accounts who did not off-ramp
Reminder that @Polymarket and other prediction markets are just as predatory and dishonest as casinos, do not fall for the smoke and mirrors
@Cbb0fe@variational_io Right message, wrong messenger
You make money from CLOB spread inefficiencies. The RFQ model removes the need for external mm like yourself which keeps that revenue within the protocol itself
I agree tho, Var needs to lower spread/slippage + open up OLP to users as promised