$LSK
This exhaust is truly designed with sophistication.
1. Lisk network announces it is shutting down, and Lisk tokens are now only available on the Ethereum chain:
=> most Lisk is being bridged to the Ethereum chain, and it gets locked for 7 days!
2. OKX exchange and 70% of exchanges haven’t bridged to the Ethereum network in time—Lisk’s price on OKX is $0.4, while on Binance it’s $1.
=> the only way to profit from the price spread is to buy spot and sell futures.
3. After getting trapped in this scheme, they will push futures funding down by -2% every hour.
=> and if you hedge, you’re still going to die!
4. The liquidity on the OKX exchange is very thin, and it will never happen that the Lisk spot price on the Lisk network will be pulled up to match the spot/futures prices on the Ethereum network.
=> you can’t sell spot, and if futures positions aren’t closed, funding will be wiped out too. Either way, you die 😗
This exhaust is truly designed with sophistication.
1. Lisk network announces it is shutting down, and Lisk tokens are now only available on the Ethereum chain:
=> most Lisk is being bridged to the Ethereum chain, and it gets locked for 7 days!
2. OKX exchange and 70% of exchanges haven’t bridged to the Ethereum network in time—Lisk’s price on OKX is $0.4, while on Binance it’s $1.
=> the only way to profit from the price spread is to buy spot and sell futures.
3. After getting trapped in this scheme, they will push futures funding down by -2% every hour.
=> and if you hedge, you’re still going to die!
4. The liquidity on the OKX exchange is very thin, and it will never happen that the Lisk spot price on the Lisk network will be pulled up to match the spot/futures prices on the Ethereum network.
=> you can’t sell spot, and if futures positions aren’t closed, funding will be wiped out too. Either way, you die 😗