Conversation

What would be the risk that is being managed? Traders on Kraken are users. We're not market making.

I know you are smarter than this Jesse- how about a market order that wipes the books to a point of generating a liquidation cascade ? You can't with a straight face tell me what occurred today on Kraken was orderly market function, more levered up exchanges didn't move that much

Hoodie

@iwearahoodie

Genuine question, What are they supposed to do if a fat fingered whale hits market sell?

OKex limits the size of market orders and forces multiple orders and/or limit orders based on the thickness of the book, some of these things have been honed and polished up for years I am more turned off by the lack of concern from Jesse, I guess to him it isn't an issue ?

Jesse Powell

@jespow

We do the same but if you jump through the hoops and want to dump anyway, we don't stop you. Should we?

let me start at the root aspect with some honest questions: Do you think this event improves your image to current and prospective customers ? Do you think overall customers feel this was event is fair ? Do you even consider this an "event" worth handling ?

Jesse Powell

@jespow

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.

maybe I am crazy but I guess when a market dislocation happens on the magnitude of 50% difference in price on a very major pair to the rest of the market that it at the very least leaves a bad taste for many customers -- this wasn't some random shitcoin pair

hoodrat

@hoodratbtc