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CryptoNewsZ 2022-11-25 12:33:59

MakerDAO expects $1.5M bad debt after FTX’s liquidity crisis!

MakerDAO, the largest decentralized finance protocol, has announced plans to liquidate heavily leveraged vaults to prevent excessive bad debt. They tweeted: “Due to liquidations being previously disabled on the mentioned vault types, some positions accrued interest above their collateral value, resulting in being undercollateralized.” They expect $1.5M worth of bad debts, which will be a …

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