Shorter Finance

As a fellow cryptocurrency trader, I’m sure you’ve experienced sudden investment losses caused by market fluctuations. But my recent experience using Shorter has opened my eyes to a new and exciting trading experience that sets it apart as a true DeFi game-changer.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/dcdf8ed2eeee402d85e06c8d0c68c1e0.png">Let me share with you what happened last month. I opened a short position with 10x leverage and a size of 1 ETH on Shorter. Unfortunately, a random increase made my position lose OVER 100%. The ETH price had reached a $1693 peak, while my position had only $1536 “Unsettled USDs” — a combination of my deposited margin and the funds received from selling 1 ETH token. This meant that any liquidator who wanted to settle my position would have had to pay more than they would receive in return! I thought my position had completely vanished as usual and all my money was gone, quite reasonably. You have to pay something when you risk using leverage.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/cfd51acee57b458dbddc01d247244844.png">But here’s where Shorter’s magic came into play. My position was marked as “Legacy” and still remained on Shorter. After a while, when the price of ETH dropped to $1484 (less than $1536), a liquidator found this “Legacy” and repaid my debt. Somehow - I don’t pretend to understand the technical details — I even retrieve more-or-less $30 back after the so-called position heals!<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/8471b4872e0141df8470f665e20f31c9.png"><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/0e3e41c539e9400d9dc0bbacf5f5bf0f.png">If you have ever traded on other exchanges, you should know that users immediately lose all their money once a position’s liquidation level is breached. However, it seems that the settlement of a position’s loss/profit status is only calculated at the end of the liquidation process on Shorter, which literally reduces the impact of short-term market volatility. From my recent experience, you can clearly see Shorter’s liquidation system really does well for traders — even positions that lose more than 100% of their notional value — it likely still gets some odds to recover some of their costs. We can confidently trade on Shorter and no longer have to fear the cut-off caused by terrifying “doji” candles! So wonderful!As a normal trader, I value transparency and user protection, and Shorter delivers on both counts. I’m thrilled to have discovered Shorter’s unique liquidation system. It not only saved me from a significant loss but also demonstrated the product’s integrity. If you’re tired of feeling at the mercy of the crypto market, you owe it to yourself to check out Shorter.

[Community Insights] Confessions of a Crypto Trader: How Shorter Protected My Position During Market Volatility

ShorterFinance

Other articles published on Mar 9, 2023

Crypto.com Adds Apple Pay Support For Visa Cards in Brazil

Coinbase Introduces ‘Wallet as a Service’ To Boost Web3 Accessibility

The White Hat Attack on DeFi Protocol Tender-Fi: What You Need to Know

Final Report of WEMIX Buyback & Burn(3 of 3) [2,316,396.65 WEMIX]

Yuga Labs slammed by Ordinals creator for “Degenerate” Bitcoin NFT auction

Nautilus Facility Launches 8,000 TeraWulf Rigs for Nuclear-Powered Mining

Join our free newsletter for daily crypto updates!