In a way, I'm glad I was in the USDC pool at the time of the "Haircut". It's up to the Herd to work together in EM's mission for economic inclusion, sometimes that will come with a cost (often vis-a-vie the school of hard knocks). We've overcome financial dynamics that flat-out destroyed other DeFi projects, even multi- $Billion protocols, but we emerge time & time again: stronger than ever 💪 The Elephant Money community moves as one, it's why we are ALL going to make it 🙌🐘❤
Well said Shankar. Thank you for enlightening us on this. Just to clarify if I heard it correctly. So ,the 30% that has been shaved off from our Solend USDC account will be returned back to us in due time when Savannah Haus is back in 30-90days?
@@nelsongutierrez8668 No, the shaved-off amounts will not be automatically returned. To regain the shaved-off amounts, you must stay in the pool. The repayment of bad debt refers to the overall pool’s debt, not individual accounts. Therefore, accounts that have not been liquidated will not automatically regain their previously shaved-off share.
Thank you Shankar!! as I said before your teaching is indispensible to understand EM Ecosistem... have to get a few notes to share to the spanish community (of course mentioning you which I hope you don't mind😊) .... Have a lovley weekend wherever you are😃... ¡Un abrazo! from Spain...❤👋
Very clear ! But what about the existing accounts (comibination USDC/TRUNK with initial limited borrow position) now well above the max 10% borrow limit which were not liquidated. Is it just a question of waiting for TRUNK to go back to its ATH or to pay off the debt asap to get a healthier overall position.
I think there's no need to worry since the only person who can liquidate now is BT via the Savanna Haus wallet. I would suggest either adding more TRUNK or paying off debt to get into a healthy position.
A large number of liquidations are very unlikely due to the new guardrails in place. SVNN is linked to the price of TRUNK and follows its movements, but it has less liquidity. It’s a governance token and should not be seen as a speculative vehicle, at least not in the short term.
can i ask one question? I will not touch trunk this time , but if I supply usdc in this pool, and if something happens like last time, will I be able to withdraw my usdc?
The changes make it very unlikely for this to happen again. However, if a similar situation occurs where the value of TRUNK plummets and everyone tries to withdraw their USDC out of fear, you wouldn’t be able to withdraw all your USDC.
No, the shaved-off amounts will not be automatically returned. To regain the shaved-off amounts, you must stay in the pool. The repayment of bad debt refers to the overall pool’s debt, not individual accounts. Therefore, accounts that have not been liquidated will not automatically regain their previously shaved-off share.
Sorry Shankar. This is the post I’m trying to look at. I also replied to your other post.Now I got what you mean. My shaved off amount will not be returned automatically but as you have mentioned I have to stay in the pool to recover my 10k USDC in due time. This can make me at ease now and not worried anymore as long as my money will be back to my account even I wait for more time. Is my understanding correct? Thanks
![เปิดบ้าน โคตรสวย ป๋องกพล รู้จักตั้งนาน เพิ่งรู้ว่ารวย!!! l [Nickynachat]](http://i.ytimg.com/vi/tmgCF_2HfYI/mqdefault.jpg)
In a way, I'm glad I was in the USDC pool at the time of the "Haircut". It's up to the Herd to work together in EM's mission for economic inclusion, sometimes that will come with a cost (often vis-a-vie the school of hard knocks). We've overcome financial dynamics that flat-out destroyed other DeFi projects, even multi- $Billion protocols, but we emerge time & time again: stronger than ever 💪 The Elephant Money community moves as one, it's why we are ALL going to make it 🙌🐘❤
That’s the right mindset! 💯agree!
WELL SAID! I know I've been wrecked elsewhere, but here each time we are hit with a challenge we come out on stronger than ever. WAGMI
Well said Shankar. Thank you for enlightening us on this. Just to clarify if I heard it correctly. So ,the 30% that has been shaved off from our Solend USDC account will be returned back to us in due time when Savannah Haus is back in 30-90days?
@@nelsongutierrez8668 No, the shaved-off amounts will not be automatically returned. To regain the shaved-off amounts, you must stay in the pool. The repayment of bad debt refers to the overall pool’s debt, not individual accounts. Therefore, accounts that have not been liquidated will not automatically regain their previously shaved-off share.
Hey buddy I did figure out the withdrawal process on Solend 😊
Glad to hear it!
Great explanation, Shankar. A safer and stronger pool!
Thanks for your hard work Buddy
Very well explained Shankar. Many thanks 🙏
You're welcome.
Thank you Shankar!! as I said before your teaching is indispensible to understand EM Ecosistem... have to get a few notes to share to the spanish community (of course mentioning you which I hope you don't mind😊) .... Have a lovley weekend wherever you are😃... ¡Un abrazo! from Spain...❤👋
Thank you so much for your important work. You can mention me as often as you need to. ❤️
@@SHANKX ¡Gracias! 😄
Great video, Shankar. You consistently put out a high quality product. Keep up the great work!
Thank you!
very useful to know. i've added to my usdc position and Ive doubled my trunk by buying the dip
thanks - Didn't know where to see my actual my haircut(19%)
I supply at the USDC pool. Then I bought trunk when price drop n in a way got back my refund n now up only.😊
Same for me!
Very clear ! But what about the existing accounts (comibination USDC/TRUNK with initial limited borrow position) now well above the max 10% borrow limit which were not liquidated. Is it just a question of waiting for TRUNK to go back to its ATH or to pay off the debt asap to get a healthier overall position.
I think there's no need to worry since the only person who can liquidate now is BT via the Savanna Haus wallet. I would suggest either adding more TRUNK or paying off debt to get into a healthy position.
Pump $TRUNK
Will SVNN push too since that now can make profit off liquidations?
A large number of liquidations are very unlikely due to the new guardrails in place. SVNN is linked to the price of TRUNK and follows its movements, but it has less liquidity. It’s a governance token and should not be seen as a speculative vehicle, at least not in the short term.
can i ask one question? I will not touch trunk this time , but if I supply usdc in this pool, and if something happens like last time, will I be able to withdraw my usdc?
The changes make it very unlikely for this to happen again. However, if a similar situation occurs where the value of TRUNK plummets and everyone tries to withdraw their USDC out of fear, you wouldn’t be able to withdraw all your USDC.
@@SHANKX thanks for the reply man, so I can't withdraw all at once but I can withdraw eventually right?
@@NayLinnMaung Correct!
What happens if we add back into usdc liquidated pool?
Do we need to use a new wallet?
I thought I heard something about this
If your wallet was liquidated, you have to start an account with a new wallet.
Thank you
Hi Shankar, I couldn’t find your reply to my query about 4hrs ago. Can you repost it please? Thanks
No, the shaved-off amounts will not be automatically returned. To regain the shaved-off amounts, you must stay in the pool. The repayment of bad debt refers to the overall pool’s debt, not individual accounts. Therefore, accounts that have not been liquidated will not automatically regain their previously shaved-off share.
Sorry Shankar. This is the post I’m trying to look at. I also replied to your other post.Now I got what you mean. My shaved off amount will not be returned automatically but as you have mentioned I have to stay in the pool to recover my 10k USDC in due time. This can make me at ease now and not worried anymore as long as my money will be back to my account even I wait for more time. Is my understanding correct? Thanks
@@nelsongutierrez8668 Yes, that is correct!
Thank you so much Shankar for this clarification.🙏