LAB (LAB)

Dear Community, - One month ago, PiggyBank got into a new position for $100k (~2% of the portfolio at the time), as part of the strategy’s scope of deploying into mid-cap basis trades. - The strategy involved purchasing locked $LAB tokens at a significant discount through a Tier-1 OTC desk and hedging that exposure through perpetual shorts. During the holding period, $LAB experienced violent manipulation, including chaotic price movements on thin liquidity, and deeply negative funding rates. - Maintaining the hedge became economically irrational and would have caused us to cross our risk thresholds. We therefore decided to close our short to cap the downside. - In accounting terms, the total value of our $LAB locked position is $1.35m at current prices. However, due to the illiquid nature of this position, Piggybank is excluding it from the NAV until the first unlock on August 14. Even though this is an evolving situation that could still generate substantial returns, this is the fairest and most transpar

Dear Community, - One month ago, PiggyBank got into a new position for $100k (~2% of the portfolio at the time), as part of the strategy’s scope of deploying into mid-cap basis trades. - The strategy involved purchasing locked $LAB tokens at a significant discount through a Tier-1 OTC desk and hedging that exposure through perpetual shorts. During the holding period, $LAB experienced violent manipulation, including chaotic price movements on thin liquidity, and deeply negative funding rates. - Maintaining the hedge became economically irrational and would have caused us to cross our risk thresholds. We therefore decided to close our short to cap the downside. - In accounting terms, the total value of our $LAB locked position is $1.35m at current prices. However, due to the illiquid nature of this position, Piggybank is excluding it from the NAV until the first unlock on August 14. Even though this is an evolving situation that could still generate substantial returns, this is the fairest and most transpar

이 상황은 여러 면에서 잘못된 느낌입니다. @piggybank_fi는 'Long Spot / Short Perp' 전략을 사용했지만, 그들이 자체 문서에 설명한 방식대로는 아니었습니다. 결과: 큰 손실 (정확한 결과는 아직 알려지지 않음). 상황에 대한 저의 분석 👇 ▶️ 무슨 일이 있었나요? Piggybank는 $100,000(당시 포트폴리오의 약 2%)을 중형 규모 베이시스 트레이드에 투자했습니다. 그러나 유동성이 높은 시장에서 기초 자산을 구매하는 대신, OTC(장외) 데스크를 통해 할인된 가격으로 잠긴 $LAB 토큰을 확보했습니다. 헤지용으로 영구적인 숏 포지션을 열었습니다. 문제점: $LAB 토큰은 심각한 가격 조작, 낮은 유동성, 그리고 매우 부정적인 펀딩률을 겪었습니다. 이는 숏 포지션(헤지)을 유지하는 비용을 과도하게 만들었고 '경제적으로 비합리적'이었습니다. Piggybank는 추가 손실 위험을 제한하기 위해 숏 포지션을 청산해야 했습니다. 그러나 구매한 $LAB 토큰은 8월 14일까지 잠겨 있기 때문에 현물 포지션을 동시에 매도할 수 없었습니다. Pigg

이것이 DeFi 포지션이 지속적으로 감소하는 이유입니다 당신이 수익을 얻는다고 생각하는 프로토콜은 실제로 당신의 돈을 비유동성 토큰에 걸 수 있습니다. 그리고 당신은 손실을 감당해야 합니다. -100% 위험을 감수하고 10% 수익을 얻을 기회를 노립니다 🤦🏾 https://t.co/nPEA99XwyW

이것이 DeFi 포지션이 지속적으로 감소하는 이유입니다 당신이 수익을 얻는다고 생각하는 프로토콜은 실제로 당신의 돈을 비유동성 토큰에 걸 수 있습니다. 그리고 당신은 손실을 감당해야 합니다. -100% 위험을 감수하고 10% 수익을 얻을 기회를 노립니다 🤦🏾 https://t.co/nPEA99XwyW

Dear Community, - One month ago, PiggyBank got into a new position for $100k (~2% of the portfolio at the time), as part of the strategy’s scope of deploying into mid-cap basis trades. - The strategy involved purchasing locked $LAB tokens at a significant discount through a Tier-1 OTC desk and hedging that exposure through perpetual shorts. During the holding period, $LAB experienced violent manipulation, including chaotic price movements on thin liquidity, and deeply negative funding rates. - Maintaining the hedge became economically irrational and would have caused us to cross our risk thresholds. We therefore decided to close our short to cap the downside. - In accounting terms, the total value of our $LAB locked position is $1.35m at current prices. However, due to the illiquid nature of this position, Piggybank is excluding it from the NAV until the first unlock on August 14. Even though this is an evolving situation that could still generate substantial returns, this is the fairest and most transpar

Dear Community, - One month ago, PiggyBank got into a new position for $100k (~2% of the portfolio at the time), as part of the strategy’s scope of deploying into mid-cap basis trades. - The strategy involved purchasing locked $LAB tokens at a significant discount through a Tier-1 OTC desk and hedging that exposure through perpetual shorts. During the holding period, $LAB experienced violent manipulation, including chaotic price movements on thin liquidity, and deeply negative funding rates. - Maintaining the hedge became economically irrational and would have caused us to cross our risk thresholds. We therefore decided to close our short to cap the downside. - In accounting terms, the total value of our $LAB locked position is $1.35m at current prices. However, due to the illiquid nature of this position, Piggybank is excluding it from the NAV until the first unlock on August 14. Even though this is an evolving situation that could still generate substantial returns, this is the fairest and most transpar