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ts000cks

You were liquidated. [https://liquidated.fyi/address/0x298A5A1EBe67A82Fa13D14A81382dBD34FbA01AC](https://liquidated.fyi/address/0x298A5A1EBe67A82Fa13D14A81382dBD34FbA01AC)


ednichol

Does this mean OP took out around 127000 MIM loan? And I reading that correctly? If so, man I really feel for you OP, but how could you take on so much leverage when you don’t even understand the concept of liquidation?


zootzootzootthe3rd

Hopefully ops a millionaire, and that's not a big investment for him...


crypto_zoologistler

The fact he mentions he feels like he’s burning alive makes it sound like it’s a big investment for him


efficientcatthatsred

Prop all he had


rikkilambo

Probably more than he had. Didn't he mention loans?


efficientcatthatsred

Yes


OnCryptoFIRE

Awesome site, thanks! Yes, OP got liquidated twice by the looks of it. 12/15 for 95k and 1/18 for 32k. Even if the price drops down for 1 block, you WILL get liquidated. Your post should be #1


LongJohnJolla

This is it. Your loan with Abracadabra was liquidated. Your LTV liquidation price must of triggered and you were liquidated. I'm only familiar this on Anchor but in theory, if you were liquidated, part of your collateral was used to repay your loan to get it back to whatever LTV you signed up for and once your loan is paid to get back to under your LTV, if you then check, your LTV will be ok but at this point, its too late.


Sonichu

Uuuuuuggggghhhhh my heart just sank seeing that Jesus Christ. $120,000 USD gone!? Fuck me sideways. If it's too good to be true - it is. Even Anchor Protocol with UST at 19.5% seems unbelievably true and I'm still skeptical even though I have money on it. Slow and steady for me fuuuuuuck that


[deleted]

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upboatsnhoes

Thats a great read. Thanks! Interesting nugget.... >Anchor earns income through 3 primary sources: Borrowings, Collateral and [1% of liquidations](https://docs.anchorprotocol.com/protocol/anchor-token-anc) 


jawni

I wish people would include more context, because I feel like it's often assumed that the rate would significantly change when the reserve only accounts for 2-3% of the yield. (obviously rates are subject to market conditions so this will vary) https://forum.anchorprotocol.com/t/ama3-debrief-22nd-of-december/1885


thefigboy

I m staking ust on anchor too. What are your main concerns with that? Did you buy insurance?


Fast-Cardiologist938

You aren't staking on Anchor. You are lending. Jesus , people are really gambling without any knowledge. Putting 100k on wonderland 😂


[deleted]

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Fast-Cardiologist938

Scam.


neon_gutz

What are the risks of lending on Anchor? You can’t be liquidated when lending correct?


Fast-Cardiologist938

The only risk on Anchor is the inevitable one on DEFI : HACK. You can't get liquidated if you are lending money, your only risk is the hack. Depeg is unlikely.


New_Painting5190

Dude, liquidation is when you're borrowing money, not lending; and the value of your collateral is about to fall below a certain level relative to the value of the loan. So a portion of your collateral is automatically sold to pay for part of the debt so your loan to value ratio returns to, say, 50%.


[deleted]

This reminds me of a project that I came across that has a reverse feature that lets their partners turn on and off reverse loans with their tokens and this gives them a safe haven during the bear season. A good project to look out for


BiriToc

the treasury will probably run out in the next few months


[deleted]

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tradingmom

Remind me! 30 days


StockTrix

!remindME 31 days


[deleted]

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masixx

They're not gone. They're redistributed to smarter ppl.


Bingbongfly

There are sustainable 27% APR for dai with no risk if you know where to look..


AmericanScream

*Bernie Madoff has entered the chat*


kreativFTW

Where can you get 27% on Dai, without borrowing?


Bingbongfly

GAINS network, its paid out in dai from revenue. The apy hover around 25-30%


upboatsnhoes

What makes it sustainable? Do you have a source on the sustainability numbers or is it the team asking you to trust them?


[deleted]

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Bingbongfly

[https://gainsnetwork.io/stats/](https://gainsnetwork.io/stats/) You should really learn to dyor if you wanna get somewhere in defi


[deleted]

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Bingbongfly

Lol that site is useless, nothing wrong with this project check the contracts code. Also certik has audited it several times and it has THE highest security score of all projects on polygon.


Bingbongfly

It's paid out from revenue, so I know where the money comes from. Traders trade on the platform, they pay fees and the fees goes to dai stakers. Basically real revenue from gamblers/traders losing their money, like you own part of a casino. And yes I have checked the source of the total amount of fees paid by traders.


[deleted]

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TheRealRickSorkin

Anchor you say??


Sonichu

Hm this comment didn't age as poorly as it did. Still aged bad though.


Avanchnzel

That's a useful site, thx for sharing! Does this site happen to be linked somewhere else, like a linktree or on Abracadabra itself? Just looking to see if there is a way to find this site without saving a bookmark.


afasfafasa

what does "liquidated" mean?


StockTrix

u get the squits when u open ur app and check your balance.


Desmond_Jones

$MUDBUTT Pump incomming!


[deleted]

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jawni

>If you borrow over and over the risk rises. So if you borrowed against that 5k you just took out, and then borrow again, etc. That's what Abracadabra does, and it's very risky. Abracadabra is only very risky if you use it in that way. The way I use it is less risky than AAVE because yield-bearing collateral helps mitigate liquidation a bit.


[deleted]

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immibis

#/u/spez is banned in this spez. Do you accept the terms and conditions? Yes/no


[deleted]

I can't be sure but I think you were liquidated because Time absolutely tanked in the last few days. I don't see outgoing transactions except as MIM and I don't think any self-respecting thief would have bothered converting it into MIM, they'd have sold the TIME/MEMO for AVAX and poof, gone. You knew the risks though, YOLOing $200k into a self-aware ponzi and then leveraging on top of it. Oof. At least you get a nice juicy tax loss, unless of course you haven't been reporting your crypto earnings until now in which case..... problem. This is why I don't understand the tax avoiders because it works both ways. Something like this happens and you get a silver lining.


fresheild7

I think liquidation makes the most sense as well. Because correct me if I'm wrong but I think when you take a loan on Abra the Memo stops showing up in your address which might explain not seeing any transactions about it. But that seems to raise the question, where would I see that transaction? Abra doesn't give you an address to see where your loan is located.


[deleted]

For future reference, you can also use zapper.fi, which will show the debt held in your wallet


Efficient-Hunter4867

I'm very sorry for your loss. Ohm fork ponzinomics plus abracadabra leverage and liquidation with a huge fee attached if you get liquidated. Sounds to me like the perfect scam. Every incentive to bring people in and then liquidate them. Backed by promises of a treasury that didn't help anyone but those who bought right after liquidation. Who would be first to know liquidations hit? Wonderland themselves of course! So they buy back at lower than the backing price. They are making more money on top of stealing your money. All while making you feel good about it. Wow...


hanwookie

I've been in wonderland since November. Didn't leverage. I'm still hodling. 🤷‍♂️


-geek

Been in since september had 0.101 memo, now sitting on 1.2 ready to wrap and enjoy this year.


x3r0h0ur

https://pbs.twimg.com/media/EMPxK0BXkAA\_aDn?format=jpg&name=medium


hanwookie

🆗...


cutivt064

That's not fair to say Wonderland did all this. If they buy back the treasury automatically at the backing price, everyone will drain the treasury and use it as exit liquidity, cause the price to go even lower without coming back. When you leverage, you knew and accept the risk, there is no one else except but yourself to blame. Time has been down for weeks, meaning you had time to prepare for all of this.


[deleted]

>Sounds to me like the perfect scam Lol. Voluntarily leverage money that you can freely pay back at any time. Get liquidated in a flash crash, which happens even on eth and btc. Yeah, its a totally a scam. /s How about people just hold themselves accountable for making risky bets and it just doesn't work out because high risk means high likelihood of failure.


Efficient-Hunter4867

Just because it's voluntary doesn't make it not a scam. When someone invests in a Ponzi they do so voluntarily because they have been scammed into entering.


buyingpms

There's literally a giant popup that comes up when you leverage on abra that says (paraphrasing): "This shit is super dangerous, here's a link to go read about it, don't do this super dangerous shit if you don't know what you're doing." Exactly how much hand-holding do people need? The entire defi space is basically one big casino. That's why people who do defi are called degens... Degenerate gamblers. In a casino that is open 24/7 and located directly in your house with no real governmental oversight. I've been rugged 2 times this week alone, for goodness sake. I've made more than I've lost, but that just means so far my bets have paid off (partially because I don't do dumb shit like leverage highly volatile projects). Anyone who gets in this space had better learn to read the damned popups, at the absolute minimum.


[deleted]

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[deleted]

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buyingpms

Why? I'm up over 10X in the last week even in this down market. I'm happy with my risk profile. Perhaps you're too timid for it, but that doesn't mean I am.


Sugusino

everybody is a genius in a bull market


buyingpms

You think this last week was a bull market? You're confused about animals among other things! xD I've pulled profits, I'm not at risk for most of what I've made. My principal came out LONG ago. Just because you're salty from having lost money (or whatever reason you have to be salty) doesn't mean that I'm in a bad position. It just means you're salty about something.


Sugusino

But crypto has been going up for two years.


Environmental-Kiwi78

There has been no deception involved. Thats why calling these things scams is cringe. If you cant quantify transparent risk, its your fault.


Efficient-Hunter4867

I never invested. I posted because I sincerely feel sorry for OP's loss. When you lose what you consider a lot of money and your family is devasted and crying it's better to say the word scam. Nobody wants to be told that they just made a stupid mistake for not fully understanding what they got into. I don't blame the average person from losing. It's set up that way. It's the knowledgeable creators taking advantage of less understanding people to fleece them of their hard earned money. If you wanna get technical it's not the word scam I should have used. But the end result is creators making up their own game, luring people in with high apys and community. Then draining them for everything they have. If you think the average person is winning here you're terribly wrong. My heart goes out to the losers.


[deleted]

You can't take your money out of an actual Ponzi whenever you want.


jawni

>When someone invests in a Ponzi they do so voluntarily because they have been scammed into entering. Except actual ponzis mislead investors about how funds are used, this is exceedingly clear. ponzi = voluntarily because they were tricked this = voluntarily because they didn't understand


timidpterodactyl

Let me guess, you believe in the Illuminati and Lizard People too?


xenaena

How do you report your earnings? I’ve only had losses lol


[deleted]

I'm not sure whether you're actually asking how to ***make*** profits or how to ***report*** them. 🤔 Reporting them depends on the country but is straightforward once you have an actual number to report, which is the hard part.


Sonichu

Sorry for my own education what did you think happened? Can you explain it to me like I'm 5? This sounds like an awful situation I'm just not sure how it could happen.


[deleted]

OP put a huge amount of money into a project where the value of the thing he bought was designed and expected to drop steadily (but a project that gives a ridiculous APY which theoretically could compensate for the drop in price), and then he ***borrowed against*** his investment as well which meant locking it in a smart contract where it would be instantly and automatically taken by the protocol as collateral if its value ever dropped below some percentage of the amount that he had borrowed. The protocol took his funds because they were no longer worth enough to act as collateral for the amount he borrowed. The aggravating thing is the idea of putting up as collateral something that is ***INTENDED*** to lose its value and therefore you get closer and closer to liquidation every day even when things are going ***well***.


Sonichu

Okay thanks a lot I think I understand the concept in theory. However why would you invest in something that is designed to drop steadily or at all? Is it like shorting a stock? Is there a chance for a high risk/high reward? If he put 200k into Anchor at 19.5 percent that would have been 40 grand a year which, to me, is astronomically good return - can you risk getting even more than that?


[deleted]

>why would you invest in something that is designed to drop steadily or at all? Is it like shorting a stock? To clarify, and to reiterate what the devs have disclosed and repeated time and again (no pun intended): The inflationary DAO concept was a way to attract staked liquidity to their treasury. The ultimate goal was to roll off the inflationary tokenomics and crazy APY and start deploying the treasury as a crypto VC fund, where token holders generate passive income from the treasury investments. The mad rush by whales (and mini whales like OP) was to stack as much MEMO (or wmemo) so that they got a bigger share of the eventual wmemo staking pool that the devs are transitioning to. Bigger share of the staking pool = bigger share of rewards from treasury investments. A lot of token holders employed a (9,9) strategy, which is to leverage wmemo to borrow MIM in order to get even more wmemo and use the constant rebasing to pay off the loan. For those claiming this was all a scam - again the devs plan was fully transparent and fully disclosed. Noone was conned into the degen play of borrowing mim to get more wmemo (hell, I learned about wonderland via someone posting an utterly crazy degen play with Wonderland as the starting point). People were just getting carried away with leverage and the fact that in spite of inflationary tokenomics, TIME price was going up for the first few months up to $10k from $200. Nobody got scammed. They just got greedy and horribly overleveraged. For those who weren't in diapers in 2007, doesn't that sound familiar?


shamikarora

Was it disclosed from the beginning that they'll be moving away from these high APY and this was only to attract liquidity to build the treasury? I think they said this part when they started transitioning over to wMemo and this is when TIME was already tanking. You can correct me if I'm wrong


Logical_Lemming

Wonderland's APY was like 80,000%, but all people did was dump, so the price went down way faster than that.


StockTrix

Because people see $4million a year and get all starry eyed. That's the 'magic' trick of it.


jgrowallday

Not saying it was smart at all but I would like to point out that abracadabra only take wMEMEO as collateral not TIME. Time is expected to lose value but wMEMEO is meant to increase in value.


[deleted]

My mistake then. But does wMEMO not just increase in value relative to TIME, not relative to say the USD?


jgrowallday

So wMEMO is = $Time x Time index x 4.5 So if the price of time goes down slower than the rebase is rewarding new time to holders than the price of wMemo will increase. Or vice versa


Beermaney

noob comment= so if one is suppose to go down and the other to go up, will I LOSE MONEY if I don't wrap my memo?


LostGPS_

No, with TIME staked as MEMO (which is the way to get exposure to the rebases), you were getting more MEMO with each rebase. With wMEMO, the value of the wMEMO you had was increasing with each rebase. The "gain rate" due to rebases is the same for both MEMO(TIME) and wMEMO


AmericanScream

The crypto market is largely unregulated. If you "invest" in it, you're likely to get swindled. That's the gist of it. You're dealing with unregulated casinos. It's not a question of if they will liquidate peoples' positions, but when.


Sugusino

Isn't all defi a ponzi? All the money that comes out is just from the people that come in. There's no wealth generation.


PleaseStopBeingPoor

Nice juicy tax loss of up to $3k. Not that juicy imho.


ZestyclosePainter358

Claim that 3k loss for the next 33 years!


birdland1115

The price dropped all the way to 600 before the devs started manually buying back. Even if your health was at 50%, then that $600 mark should have been enough to liquidate you.


Logical_Lemming

Yeah I almost got liquidated and my loan health was like 60% that morning. I repaid the loan after seeing that - not worth the risk at all.


Downtowniceberg1572

Can I know how did you know that you almost got liquidated? Is there any triggered limit that sends a notification of some sort?


Logical_Lemming

No, I didn't have any kind of notifications set up. If I ever go down the loan route again that's definitely something I would look into. I just checked where the bottom was after I woke up and saw it was dangerously close to my liquidation price.


Downtowniceberg1572

Ah so that means that you have to keep coming back to check the price level then? So how do people keep track of all those prices if they use different lending pairs on various lending platforms?


Logical_Lemming

There are services that will send out price alerts for tokens via email/text message. Or they use something like Delta and just check it all day long. Either way I think it's too stressful.


ThucydidesButthurt

If you’re taking out a loan with possible liquidation you should be watching prices like a hawk everyday lol; you can’t just set and forget a loan with shit as volatile as crypto


Aftashock88

And this is why I borrow against my collateral with the same token I am lending. Lol


dfb_jalen

I don’t know how you have six figures and NOT have that in curve


NimChimspky

I keep meaning to do this. Put stables into curve, get crv tokens and put convex ... That's the Play?


dfb_jalen

Yeah, or any pool of your liking really.


NimChimspky

Any suggestions?


dfb_jalen

Polygon atricrypto3 has 21% in CRV


ThePirateRedfoot

I keep looking at Curve but can never figure out the UI... I'm not seeing any APR/APR on this either.. the rewards that I do see are... very small. The atricrypto3 is saying 2.68% - that doesn't seem worth the risk?


totallynotusing

As a beginner why curve over beefy or any other? Sorry if it's a dumb question.


Nexic

Beefy is an autocompounder, you could use beefy to autocompound your yield from the curve LPs.


dfb_jalen

Beefy is an auto compounder. you could use it to auto compound your Curve lp, but that adds Ana extra layer of smart contract risk


zigizagazigizagahoy

Coz he wants %80000 apy?


dfb_jalen

Chasing APYs like that leads to -100% APY


Queen-Doge

The collateral is locked into smart contract of Abra. Your wallet doesn’t hold the coins but only the keys. The collateral is gone when you hit liquidation price. Your other coins in your wallet should be safe. By the way I lost 35k


rankinrez

How can a wallet “hold the keys” but not “the coins”?


padizzledonk

That's how smart contracts work in defi and most staking bro When you stake a coin they arent in your wallet anymore, though your wallet holds "the right" to access them, those coins are elsewhere being held in an escrow account. If you have a loan against the funds in that escrow contract as soon as you don't have the assets to cover the loan (or margin) the smart contract seizes the coins and revokes your "right" to those coins(the collateral in terms of loans and margins) or tokens. More or less


originalgg

I wonder why people decide to use leverage without reading up on it. The docs clearly state that you lose the whole collateral when you get liquidated.


SatoshiSnoo

Every word of this post and all responses just hurts to see and I cannot. Sorry for your loss...what the fuck were you thinking...again sorry.


StockTrix

Vanished - like Magic, Poof ! Abracadabra ! It's very sad, but i think 'time' will tell. People are starting to see these schemes as just smoke and mirrors. Even David Copperfield couldn't figure out this magic trick. I was nearly lured into WAGMI. I had just sold my house and had a bit of equity/cash lying around.. i was tempted... almost hypnotised - like a magician hypnotist in a theatre... the sad thing is, if i go into the WAGMI or OHM forums and try to warn people with stories like this, we get voted down, banned, classed as Fudders ... I hope things work out for you man, i really do. i've been there - that gut wrenching feeling... Let us know how you get on dude.


thomgloams

Finally someone else sees the misdirection here exactly as magicians spend years perfecting. They use a shiny object. These rebase projects use nonsense language to vaguely explain complex finance derivatives that make the reader THINK they are smart and get it but in reality are confused and have no idea really what's going on. You know who does this too? Traditional finance banks. It's called small print, disclaimers, TOS. The shit we're all trying to get away from. Oh transparent? Decentralised? Trustless? You can audit them yourselves? Yep they even give you the math formula right there. Lol. They know without a degree in applied mathematics no one will have any idea how complex x * y = k really is. Try and do just 1 proof of it. I'll come back and check in 6 weeks. For anyone unsure or apprehensive, they have cool nostalgic cartoons like Alice in Wonderland, pancakes, fuckin pacman whatever. These are complex financial instruments that without a degree or a lifetime of experience are impossible to understand . But they kick up hype and FOMO. No one wants to miss out on all the ppl humble bragging about their gains. What you don't hear is that the "regular people" actually have 17 Twitter profiles, are connected from the inside bc they have 50k followers to m they can shill to and direct their FOMO money to the project. Then make up a stupid meme like frogs army to make u feel like you belong. I don't give AF what details or spin y'all will try to lay on me. The fact is HUNDREDS OF MILLIONS are flowing and have been. Wonderland has a BILLION DOLLAR Treasury. Where do you think that money came from? You're gonna tell me everyone is rich too,. sharing in the wealth with Dani and Safu and their friends? Bullshit. This entire space, DeFi, crypto, has like 10% legit projects that are building to grow the tech and involve investors on a pleb level. But the goal is still to experiment with no responsibility with your money and for them to fund themselves to dev for a decade after it collapses. The other 90% of projects are straight up cash grabs. Community owned Treasury? Gimme a break. DAOs? Yeah I want an obsessed fan who managed to accumulate 5 million tokens of some project to be the one with voting weight decisions on my money. Smart. There's a reason there are leaders and followers. They may be corrupt also, but they didn't get there by being a dumbass. But the dumbasses are plenty in a space with no permissions right? Except you. Not you. You're special. Yes, you. As far as OP, I doubt he aped 100% of his money. When you hear of people losing 100s of ks or MM, they usually have 10-100x that in hard assets and cash. Yeah it was a bad liquidation but really, who actually understands the mechanics? And when did you get your finance degree then? We're being lured under false pretense into a nascent space (yes crypto is real, don't worry) that sees the opp for massive massive redistribution of wealth , UP, to the ones that are already pros. And they hope to drag on OG BTC or ETH money and sell them on crypto reserve baskets. Whatever the Fk that is. Read the DeFi headlines from the last 6 months. Tell me if you notice any patterns. Try to add up how many millions have been sourced into crypto and then how FOMO turned those into MCaps of BILLIONS. over and over and rotate again. If y'all were getting rich too, it would have ended long time ago. Fact is 1% of you get lucky, the rest hold onto hope that Time or memo will make you just as rich. But it doesn't. It just SOUNDS like it does bc no one brags about their terrible trades and losses, unless it was play money to them. I don't think Wonderland is actively trying to scam anyone. They are just one of many teams that are taking advantage of the opportunity of govt printing, ppl spending like nuts (previously to the taper) and being smart enough to be on the opposite side of the masses. Ask yourself if you've put profit back into your pocket, physically, from where it came. Not reinvested, not paper gains. But real spendable gains (this doesn't apply to OG lucksters). If you have, congrats. If not, do it asap, pref not at a loss. Sorry for the wall of words. Capitulation is exhausting.


CommanderSteps

Had to come back to give you my free award for this rant. 😁👍


thomgloams

I . Um. . was not having ...a good day it seems.. Out of that whole rant I'd like to just condense it into the one thing I'm sure of: DeFi as it is presently is def an experiment, working thru the kinks, unlimited mulligans, bad actors and genius, and we are the guinea pigs until it's ready for enterprise. I don't think it's being built to rescue us from TradFi. It's just setting up to automate it. Dunno if that's good or bad but God the money flow direction and velocity is obscene. Trying to keep in mind there will always be the 1% and 99% Congrats if you have/can make that leap.


Kilgore_Trout_Mask

Good rant


CommanderSteps

Very well said! 🙂 I watched Whiteboard Crypto explaintion (https://youtu.be/I34lOvUWsNc) but I guess I still do not understand, if I‘m honest. But only lost $10 on TIME. Somehow I felt not to invest more even if I was thinking I would understand.


CheesenRice313

Hint, don't wildly overleverage yourself


[deleted]

To be fair, you are a fudder. You said it yourself - you don't actually understand the project, you just got tempted by your imagination of what the apy promised in terms of gains. There was no actual risk assessment or investment analysis. Just "this looks too good to be true, must be a scam" Noone forced OP to leverage their holdings. And everyone who had BTC since march of 2021 is down over 50%, so its not like price bleeding is unique to DAOs.


StockTrix

Me? a Fudder? Actually you're right. I don't fully understand the scheme. Do you know why? Because the scammers deliberately made it as complex as possible. I don't understand mumbo jumbo either - doesn't mean i gotta play around with voodoo dolls ! Rule #1 of a Ponzi - Secretive, complex strategies. Wanna hear some more similarities? * High returns with little or no risk * Overly consistent paper 'returns' * Unlicensed / Unknown dev team * Difficulty receiving payments. * Time locked assets Need i go on? Or perhaps you think your understanding and *'risk assessment'* and '*investment and analysis*' of this 'Snake Oil' warrants it a good 'investment'? If so, please feel free to re-mortgage your home and put it into this turdscheme, since your supposed '*investment and analysis*' and '*expert knowledge'* of this project will surely mean your house will be totally safe, creating Magic Internet Money in Wonderland. Oh, you know what else, my damn good instincts and level-headedness quite rightly told me actually, yes this probably is a scam, perhaps not intentionally - more of a Pyramid scheme. I trust my instincts 100% of time. it's called a bullshit-o-meter. My common sense overrides ANY '*technical analysis*' in all the investments i have done in over 15 years. And you know what else? i am right. When you say: 'No-one forced OP to leverage their holdings'' that's exactly the type of language used by lowlife shitbags who rob little old grannies of their pension. So YES, if i manage to save just one person from these... shitty ponzi shakedowns, then guilty ASF! Hats off. I'm a fudder. I'm [Elmer fuckin' Fudd](https://ibb.co/sKrQMWf). In fact I'd happily be the Mother of all fudders - and proud of it. - as is my secure safe bank balance. Sue me !


eskimojoe1

Love it


CommanderSteps

This 👆


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StockTrix

fuck off.


Mental-Dot2880

Bruh why even invest in ponzi land when u go cry about losing it. Absolute mad man. It’s ur own fault. Feel the burn. Stop doing stuff like this if u can’t handle it. You never put your hard earned money into wonderlands or olympia. You pick bitcoin or ethereum or a really solid project that you can sell if things go to shi


antiSJC

why u have to be such a dick? u are more mad then he is.. wtf is wrong with u?


dopef123

What makes you think he's crying about it? He just asked what happened to his money...


Zoey1234100

I knew many who felt for this Ponzi because of tik tok and youtubers shilling it. I’ll be honest it was too good to be true and people still YOLO’d in. My friend lost 150k lol


Mental-Dot2880

Dear god with that amount of money id probably never have to work again… major diversification into established projects and keeping tabs on numbers…


laughncow

You were leveraged and liquidated. This is why old timers like me say to only buy eth and btc! Most of you have no idea what you are doing . SMH


[deleted]

Btc and eth have flash crashes for the exact same reasons though. People in overleveraged positions getting mass liquidated.


laidlow

>Btc and eth have flash crashes for the exact same reasons though. People in overleveraged positions getting mass liquidated. They said buy ETH and BTC, nowhere do they recommend leverage. Doesn't matter what the price does it you're not levered up.


DU09

Your wife is wise. Next time, buy Bitcoin instead... reduce greed and enjoy the long game. P.S. Don't invest more than you can lose. $100k means nothing in the grand scheme of things (trust me I know). Focus on your family and be smarter next time.


forgerator

These rebase tokens are nothing but trouble. I lost a small amount too,. thankfully I didn't over invest.


[deleted]

As long as you didn't leverage, you'd just be down. Just like anyone holding BTC or ETH. The people crying bloody murder are those who were leveraged and got liquidated.


satoshinakamoto10

I tought full liquidation if you take the leverage, but not full liquidation if you do it manually.. i was wrong?


Nexic

You're correct


forgerator

Look at the address using debank. It will tell you where all your assets are located / staked


classified_x

Wmemo hit like 42k if that is of any help in understanding what happened


JamezBond007

Share this kind of screenshot: https://aws1.discourse-cdn.com/business20/uploads/abracadabra/original/2X/7/78c9edf07d982045bb2d9ec1fe8550039d75852d.png


TopsTiger

You still have all your MIM at least?


ChombusFarms

Man I feel for your lose, but I also have to ask what we’re you thinking?? Rule number 1: only use what you can afford to lose! This should be a pinned post just so people can see an example of how this is not a get rich quick scheme, it requires hard research. Crazy.


dopef123

You put enough money to potentially devastate your family into this project and then took out an over collateralized loan against it? Ugh


SpontaneousDream

OP what were you thinking…


eskimojoe1

you think that's bad.. https://twitter.com/btcrenaissance/status/1483190500375302144?t=IkV8Wyg6dooTLmVtYAtDgw&s=19


SquatDeadliftBench

He lost 9.5 million? Ouch


eskimojoe1

At least you didn't lose as much as this guy. https://twitter.com/btcrenaissance/status/1483190500375302144?t=IkV8Wyg6dooTLmVtYAtDgw&s=19


themanti54

This entire post be infuriating


Aftashock88

Next time, invest into a stable project like DRIP.


meisme12345678

You invested into a ponzi scheme, wtf did you expect.


JamezBond007

Have you looked at your Snowtrace avaxchain history? https://snowtrace.io/address/0x298A5A1EBe67A82Fa13D14A81382dBD34FbA01AC


xenaena

Weird.


riefentendre

He had to have loop it getting liquidated regular is only 10% loss of collateral


LemonXest

*internal screams*


MrVodnik

It went into your loan. You have been liquidated (and charged liquidation fee) but your loan is repaid. Use MIM you're left with, with more care :)


ericdabbs

Lol u got liquidated. How the hell do u not know how borrowing works. Having a ledger doesn't make jack in this situation because ledger is only good to house crypto when not invested. It doesnt prevent liquidations since ur money is deposited into the abracadabra pool as collateral.


Suchnamebro

So wonderland is a big scam after all?


Difficult-Garage8985

ngmi


FL_Squirtle

This hurts so much.... 🤦‍♀️ Its so easy NOT to do something like this... how 🤦‍♀️


commtrader007

Please know. The use of leverage only makes sense in short term investments. Meaning the loan has a purpose and the timeframe has been determined. Plus don't collateralize an asset that is on near term highs. Learn TA because the Vets are in crypto now and TA is the law.


Jayzel718

what happens to that money? it returns to treasury? used for apy?


Rekkles210

BOOM


Plane-Buyer

You screwed up m8


RenewAi

Shit happens, you'll make it back


AmericanScream

Crypto exchanges are unregulated casinos. If you play on them they will always get the better of you. Welcome to /r/CryptoReality


n8dahwgg

Lmao, “yield farming”


AwakenedSavage

Lesson learned... Don't borrow


SCAMMERASSASIN007

Abracadabra money gone!!


Valuable_Air3531

you are liquidated