Dumb question - if the Solana blockchain has been down for hours how has the market for SOL continued to function? Have exchanges been swapping IOUs all day? Who loses money when the blockchain restarts and all the transactions true up?
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spot trading on exchanges isnt on-chain and never was for any coin, exchange just keeps a database perps even more so, since you are trading a derivative all on-chain dexes are frozen obv
Theres a point where the database has to interact with the chain at some point though right?
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Yes, when the exchanges’ clients transact on-chain (withdraw / deposit SOL)
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Only if you are withdrawing. Let's say there are 10 traders on centralized exchange, each deposited 50 coins. Total amount in hot wallet is 500 coins. Trader one lost all 40 coins, and other two gained 20 in the result of trading. One has 10 coins, two have 70 coins cont.
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exchange still has 500 coins in hot wallet, so from blockchain perspective nothing changed. Let's say winning trader wants to withdraw full stack and withdraws 70 hot wallet becomes 430 and that's the only interaction with blockchain there is cont.
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