Poloniex Made Their Lenders Lose Money, No More Bitshares Margin Trading
Today ive learnt something i didnt know. Lenders on KYC exchanges are not safe at all. Exchanges take no blame if they dont liquidate those who borrowed on time.
To protect lenders, we are removing margin trading for 4 assets: BTS, CLAM, FCT, and MAID. In order for margin liquidations to process in an orderly manner, the market must have sufficient liquidity, and these tokens currently lack that liquidity.
Sadly they see BTS, FCT and MAID not liquid enough along with CLAM that made this loses and they are killing the market.
Luckily now we have margin on Binance where BTS is so all good.
Poloniex Markets
Keep in mind there are 3 places that have no documents needed for margin trading - https://fuk.io/no-kyc-exchanges-list/ People from USA cannot trade bitcoin margin leverage.
I see this as an absolute win for BTS. Fewer users shorting BTS on CEX means less sell pressure 👍
BTS rocks indeed
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