We're down to the final two pengs on auction
There was serious risk that if lenders didn't step in, the pengs were going to spiral out of control.
>>We owe a massive thanks to the Lenders that came in to keep this ship afloat another day<< 🫡
(they're getting paid massively from 23-50% APY up to 75% LTV)
Loans have come down significantly from 600+ to 366 😅
I prepared for a brutal dip by taking loans out on my entire bag of penguins (making up roughly 7% of total outstanding loans). This was max defensive positioning for me as I prepared to spot buy extreme blood sub 6e. Thankfully we didn't reach that point though I didn't get to add to my position like I wanted to.
Depending how we hold up here at 7.8 I may look to add for the "Free" ride back to 10 🫡
Just how alts got whacked with numbers people thought were "safe", loads of loans could have been completely nuked where people thought they were "safe"
Blend continues to function as the best feature provided by any of the marketplaces IMO. I hope to see Opensea compete here after TGE perhaps?
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