BasedBear
5.7K posts

BasedBear
@BasedonBear
Leading Learning @Coinbase | Droppin' alpha on crypto learnin' & grindin' for the decentralized bag













In one of the sharpest drawdowns in recent crypto history, Drift’s systems held strong to protect users when it mattered most. Yesterday, crypto saw over $20B liquidated with $76M liquidated on Drift. This is how Drift ensures safe liquidations to protect users: At peak volatility, 4,608 Drift users were at risk of liquidation. Through flash-crash protection and oracle guardrails, Drift's system protected 50% (2,303 users) from being liquidated. Traders shouldn't be wiped out by a single bad oracle tick or quick wick. A DEX shouldn't erase large accounts off one errant price print. This is bad for users and bad for protocol solvency. Drift's liquidation engine is designed to strike a balance between fast enough to protect the protocol AND fair enough to give traders to recover. The farther a price deviates from a short-term TWAP, the slower the liquidation window. Even a few seconds can save a lot. The team is reviewing data from this event closely and will continue improving the system to keep traders safe, and DeFi resilient.



Unpopular opinion: $JUP has no point in existing. If we deleted the token, nothing in the Jupiter ecosystem would be affected. - Make JLP and JUP one token - 80% buybacks and burns from all revenues company wide @JupiterExchange @weremeow @kashdhanda



















