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100 sats \ 0 replies \ @konstantin 28 Oct 2022 freebie \ parent \ on: Kollider AMA bitcoin
Yeah that is exactly right. Also an interesting note here. If the person that goes short against your long is only levered 1x, then that person cannot get liquidated. This is because of the price convexity of an inversely priced perpetual swap. The liquidation price of a 1x short is infinity.
Currently the risk engine works like this. If a position gets liquidated then the risk engine tries to:
- Find another person in the market to take on the position (best case scenario).
- If there is no one that takes on the position at the liquidation price or better then the insurance fund will pay for the difference.
- If the insurance funds is depleted and no other person is in the market then automatic deleveraging takes place. This means that positions of winners are force closed (worst case scenario).
As soon as possible. There will be a private beta initially. If you're interested in being part of that you can sign up here: https://kollider.xyz/wallet. Also Kollider Wallet will be a browser wallet not a mobile wallet, as is Bitcoin Beach.
We're currently working on an open source project called LndHubX (https://github.com/kolliderhq/lndhubx). This service gives anyone the ability to offer their users bitcoin backed synthetic fiat accounts. So if you have an open source wallet you can deploy an instance of lndhubx and start offering fiat accounts to your users. Note though, these fiat accounts are custodial.
GENESIS