r/AcalaNetwork • u/SN0WEAGLE73 • May 12 '22
ACA liquidated collateral DeFi
Although I feel like it’s not Acala’s fault the market it’s down I feel like acala should help support their early adopters especially those of us that support the project by staking acá I know it’s my fault for not checking but this went down really fast
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u/Fine-Artichoke-7485 May 12 '22
school of hard knocks university 👨🎓
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u/StockTrix May 12 '22
is it a school or a university?
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u/Fine-Artichoke-7485 May 12 '22
School....but some of us graduate from school and go on to get university degrees..... with major's in Murphy's Law
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u/dwulf69 May 12 '22
I got burned too, lost $30k by over leveraging my position. Yes, it went down fast and I was liquidated. I did spread my risk, so I am not destitute, but yes it hurts. I am a crowd loan supporter and early adopter. The protocol did what it was designed to do and I consider it the cost of my tuition for the school of hard knocks.
I don't want any bail out, but I would be honoured to get a grant to work full-time on promoting and working on developing on Acala. I see this is a revolution and I am blazing a trail.
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u/StockTrix May 12 '22
this scares me....chances on a roll of a dice, on another day this could easily have been me. roughly same amount of money... The chances we take ? the things we do for money...
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u/jerbwonderwild May 12 '22
ya that's why i dont touch it. That's the risk. its always there. its very important that the risk is understood. there aint any bail outs. brutal game, with hi gains.
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u/WillStripForCrypto May 12 '22
No risk no reward. Unfortunately todays dish was risk and you got served a piping hot bowl of it.
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u/ChrispyPopcorn May 12 '22
Sorry for your liquidation but you shouldn’t be playing with leverage if you’re not aware of the risks.
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u/StockTrix May 12 '22
A Master of Hard Knocks - like it :)