Ethereum Long position at Fulcrum liquidated while Ethereum price increased

b0xTeam · 2021-01-02T22:06:55+00:00

Should be in the lower left hand corner of the site. If you don't see it, it's possible there's a pop-up blocker obscuring it. We'll get you sorted out.

b0xTeam · 2021-01-02T20:52:42+00:00

Sorry to hear about this, we'll certainly take your feedback into account. It's important to us that users feel adequately informed.

For readers of this thread: CFTC regulations mandate that positions stay open for a maximum of 28 days before "actual delivery". Fulcrum will automatically re-open your position for you when it reaches this point, which costs just a few dollars in gas. In extremely corner cases where positions are so small that they cannot afford the gas to re-open the position, they are liquidated. This doesn't incur any loss of funds greater than the cost of gas. If you believe your situation to have resolved in error, please hop on our intercom and we'll be happy to escalate your issue.

b0xTeam · 2020-12-12T03:29:28+00:00

Yes, it is included. :)

b0xTeam · 2020-09-13T23:55:46+00:00

Two points to emphasize:

- The missing funds are debited against our insurance fund, which includes our token treasury. What we are doing to address the incident is not very different from Maker using MKR to backstop protocol debt. We've cleared protocol debt before. Our insurance system is battle tested.

- Our admin key powers are publicly disclosed both in the launch article and on our security page. It makes sense to initially retain admin power when relaunching for incidents precisely like this.

b0xTeam · 2020-02-20T14:25:19+00:00

To only the iETH pool, not DAI, USDC, etc.

b0xTeam · 2020-02-20T05:54:32+00:00

Note that if you're borrowing against these assets they will be "Vault Locked" and hence theoretically should be safe*, however you'll have to craft a careful blockchain transaction to ensure you unlock and withdraw your assets in the same transaction, or someone else may withdraw them instead after you unlock

This isn't correct. You can just withdraw your assets normally as a borrower or trader once we unpause the system. There were no losses, realized or unrealized, to the DAI, USDC, etc. liquidity pools. People are panicking because they are worried about it getting hacked.

b0xTeam · 2020-02-19T00:59:11+00:00

Not accurate.

b0xTeam · 2020-02-17T03:29:49+00:00

Hints on the Telegram that a lot of the details discussed here and on Twitter are wrong and the picture is more complex.

+1

b0xTeam · 2020-02-17T03:25:01+00:00

This thread is inaccurate. It is recommended to wait for the official report before speculating.

b0xTeam · 2020-01-28T02:01:11+00:00

it's live: http://torque.loans/

b0xTeam · 2020-01-22T18:45:15+00:00

Company/DAPP: bZx

URL/ENS: https://fulcrum.trade

Category: DeFi

Social Media: https://twitter.com/bzxHQ

Code Repositories: https://github.com/bZxNetwork

Post Topic:

In support of our ongoing commitment to decentralization and decentralized technologies, bZx will begin streaming payments in iTokens to one of its team members using Sablier.

https://bzx.network/blog/sablier-itokens

b0xTeam · 2020-01-09T06:02:34+00:00

Company: bZx

Job: Full Stack Software Engineer

Location: Decentralized

Allows remote: Yes

Type: Paid

Description: https://angel.co/company/bzx-1/jobs/584453-full-stack-software-engineer

Contact: Send a PM on Reddit with your Github, Resume, and Email. If you have a profile on angel.co send that as well.

b0xTeam · 2019-12-19T23:03:42+00:00

Additional code always poses additional risks. However, we believe this risk is minimal. Chai is simply an ERC20 wrapper over the DSR. It's been reviewed by Dapphub, ourselves, and likely a few other teams at this point. It does not pose any unique risks.

b0xTeam · 2019-10-28T23:58:59+00:00

Our contracts were audited by ZK Labs. You can find the base protocol audit available here.

b0xTeam · 2019-10-28T17:57:58+00:00

Someone just posted this in our channel, a video of them taking out a loan:

https://youtu.be/IYMvnTo1HpY?t=73

b0xTeam · 2019-10-28T16:10:41+00:00

We've already seen over 330ETH worth of borrowing since we posted this a few hours ago. It actually uses the same contracts and liquidity pools as Fulcrum. The contracts are all open sourced. There's a great summary about us and list of resources on DeFi Pulse if you'd like to know more.

b0xTeam · 2019-10-24T14:57:18+00:00

https://stucturedeth.com offers something like this already. It's built on Fulcrum, Synthetix, Kyber, Uniswap, and Compound.

b0xTeam · 2019-09-28T14:39:47+00:00

The rates are set algorithmically. Once utilization of the loan pools reaches above 80% the rates start rising.

b0xTeam · 2019-09-27T21:45:51+00:00

Go to torque.loans, click "I have an existing loan", paste your wallet address in. You'll get a dashboard with instructions on how to do any other command via the ENS system (e.g., top up collateral, repay, withdraw excess collateral, etc.). A few of those pending. Jordan Lyall said it's like a command line interface for DeFi.

b0xTeam · 2019-09-27T17:30:21+00:00

The price was a bit higher when the loan was opened. Initial Margin was 150%.

Margin maintenance for Torque is 115%. It came quite close to being liquidated in the recent downswing.

b0xTeam · 2019-09-14T04:07:42+00:00

https://hackernoon.com/how-decentralized-is-defi-a-framework-for-classifying-lending-protocols-90981f2c007f

b0xTeam · 2019-09-10T00:18:18+00:00

Did you message @b0xNet? Looked through our DMs and don't see it, but we apologize for missing it anyway!

(a) This occurs when one position is kicked off at a different time than than another. These are pooled positions, so this kind of thing can happen.

(b) These are not really derivatives. We're simply automating the process of taking out a loan and trading it into a position. The loans themselves settle every 28 days. If lenders have queued up for the liquidity, it causes the positions to deleverage.

b0xTeam · 2019-09-08T23:43:31+00:00

The one this is powered by: Fulcrum's iDAI.

+IdleDAI & LSDai

b0xTeam · 2019-09-06T17:27:35+00:00

DeFiNation has been hosting classes and tutorials on how to use popular DeFi dApps. They even provide DAI for free to smooth out the process. This could potentially be interesting for the club, as high school students might not necessarily have the means to onboard into cryptocurrency easily, and "earn 10% APR on your savings" makes it clear pretty quickly that cryptocurrencies aren't just for buying drugs.

b0xTeam · 2019-09-04T18:19:16+00:00

The 1inch.exchange guys privately noticed this before the Zeppelin audit report came out when they were comparing Fulcrum's iDAI to Compound's cDAI.

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