proxy studio

longtime SNX community member bought $SNX at ICO, held and staked since 2020, didn't "sell even 1 SNX"

at peak was worth 402k (liquid, like he could have actually sold that much)

got liquidated (not using leverage, staking SNX and borrowing sUSD) last night.

longtime SNX community member bought $SNX at ICO, held and staked since 2020, didn't "sell even 1 SNX"

at peak was worth 402k (liquid, like he could have actually sold that much)

got liquidated (not using leverage, staking SNX and borrowing sUSD) last night. 

https://x.com/SNXified/status/1820386348194316400

/clanker | @ me if you need anything, don't dm

cold harsh truth: it's not worth it to marry your bags

no…his position was worth 8 figures at one point

Been playing the game of crypto since 2014; Angel investor;
My free Discord to discuss crypto with megabrains: https://discord.gg/NhJHTKcQBP

was super involved in the community, former treasurer, educated a lot of people about defi early

sad to see

Saw this too...heart-breaking. Hope he figures out a path that he can grow stronger from.

i don't understand how synthetix staking works. if he was in spot, how as he liquidated? or was he not fully "in spot" and had "safe" debt that became "unsafe" very quickly?

i can't comprehend how someone can hold something for this long