What would be the risk that is being managed? Traders on Kraken are users. We're not market making.
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Genuine question, What are they supposed to do if a fat fingered whale hits market sell?
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We do the same but if you jump through the hoops and want to dump anyway, we don't stop you. Should we?
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1. No, 2. Yes (someone took the other side of every trade) but I'm sure people who sold at a price lower than the current best bid would prefer a do-over, 3. what would "handling" it be? Everything appears to have operated as expected. The event was entirely predictable.
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I would like to see a change to use a market price based on the entire market instead of kraken only when triggering liquidations. The system worked far from expected as no one was able to place market orders to buy the dip on time like they did on other exchanges.
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Furthermore, who do you think we're the people on the other side of the trades? This seemed coordinated as only prexisting buy orders were really able to profit from this.
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To add to this, the couple people that got to buy today at these prices are the people you will keep around. The thousands of users like myself who were wrongfully liquidated will not be using or promoting Kraken ever again.
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Well, it's not "wrongfully" liquidated. It's liquidated according to the Terms. The movement was entirely predictable and just because the other exchanges didn't follow, it doesn't mean that it was impossible that they could have. Did you honestly not understand how it works?
Jesse were people able to place buy limit orders during the cascading liqs?
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It does look like they were able to get buy orders in between liquidations/speed bumps.
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Condescending towards your users. Who pay you. Great sounding tone.
Why I believe I was wrongfully liquidated.
1. Not able to close my order as system was unusable.
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