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Maryama 🎩 ðŸŽ
@maryama
A major Ethereum investor in decentralized lending platform Sky lost more than $100 million as the price of Ethereum plummeted. The Ethereum whale lost 67,570 Ether, worth about $106 million, when the asset’s price fell by about 14% on April 6. This liquidated his collateralized debt position in Sky. The Sky protocol, which was renamed Maker in August, is used by DeFi participants to create collateralized debt positions by offering cryptocurrency, in this case Ethereum, to borrow the stablecoin Dai. The liquidation occurred when the collateral-to-debt ratio reached 144% as the price of Ethereum plummeted.
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