The president has been relatively quiet lately. One reason is that the market had climbed too high a while ago. Also, with the Token 2049 conference taking place, project teams and market makers all attended, so the more volatile coins quieted down for a while. I haven't been trading much either.
Let me talk about what happened yesterday. I had a short position on
$DOS
opened at 0.32. But when the market price was 0.21, Binance ADL'd my position at an execution price of 0.38.
I checked Binance's terms, which clearly state:
"1. Profitable traders' profitable contract positions will be liquidated through ADL according to the liquidation priority ranking.
2. Positions with high profits and high leverage will be prioritized for ADL, followed by positions with low profits and low leverage."
I have two questions:
1. If ADL was applied to an unprofitable position like mine, does that contradict the official documentation? How can this be explained?
2. Was the official insurance fund exhausted before ADL was carried out? Please explain.
Quite a few users were affected by this yesterday. I believe very few are willing to speak up. If you were also forcibly ADL'd last night $DOS , please reply to this post so we can discuss the next steps with Binance together.
@CZ @Yi He , if you have time, could you take a look? Honestly, as a longtime Binance user, I'm really exhausted. We had 1011 last year, and now it's happening again on 1013 this year. #DOS
Let me talk about what happened yesterday. I had a short position on
$DOS
opened at 0.32. But when the market price was 0.21, Binance ADL'd my position at an execution price of 0.38.
I checked Binance's terms, which clearly state:
"1. Profitable traders' profitable contract positions will be liquidated through ADL according to the liquidation priority ranking.
2. Positions with high profits and high leverage will be prioritized for ADL, followed by positions with low profits and low leverage."
I have two questions:
1. If ADL was applied to an unprofitable position like mine, does that contradict the official documentation? How can this be explained?
2. Was the official insurance fund exhausted before ADL was carried out? Please explain.
Quite a few users were affected by this yesterday. I believe very few are willing to speak up. If you were also forcibly ADL'd last night $DOS , please reply to this post so we can discuss the next steps with Binance together.
@CZ @Yi He , if you have time, could you take a look? Honestly, as a longtime Binance user, I'm really exhausted. We had 1011 last year, and now it's happening again on 1013 this year. #DOS