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?
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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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Actually, it's the customers who are claiming to be dumb and not understanding of the risks. What else are you going to say though when you blow yourself up and come for a handout? "I knew what I was doing all along but I'm a degen"? Don't think so.
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How do you define "fair"? The system worked as intended. Everyone knew the rules up front. What more can you ask for?
it is hard sell to rationalize that when you are the only exchange at a 50% dislocation that things operated fairly...
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50% dislocations can happen in fair markets. People might not like the outcome but it's happened before and it will happen again. What would be the solution other than a monopoly exchange?
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