@guil_lambert It is basically shorting Vega but the payoff is way too low. Also, it is a double shorting delta if the price ends up below 2450. In all, V3 is worse for LPs than V2.
OK, turns out to be a nice profit by 3x long. Where does profit come from? From people who sold USDC at 0.9. Always understand where your profit comes from and where your loss goes. Not everytime we can win, so calculating risk vs return is very important and betting accordingly.
We are aware and our team is currently working with security professionals and law enforcement. We will release further information as soon as we have it.
Does anybody remember Lehman Brothers recovery rate? Secured creditors recover 100% while unsecured ones recover around 40% after 14 years. Remember depositors are secured creditors
RIP my FTX burger... Lucky to get most of the money out before all this drama happens. But still, FTX used to be one of my favourite exchanges and it built a lot of useful stuff and brought competition, really sad to see all this happens.
Bybit options are getting better now. The previous glitch is solved and they refund my loss fully, big thumbs up. Really interesting to see USDC settled options in crypto space and will trade more on Bybit
Bybit options trading is pain! This morning I have a positive delta position in portfolio margin mode and I have a small code to hedge the position automatically. But when I have sold my USDC perp, the UI and total delta is not updated.
So my code is continuously trying to sell delta and I ended up with a massive short delta position and just praying. Deribit IT seems much more stable. @H