If I had money on LiquidLoans, I would consider removing it. #PulseChain NFA
Their oracle is closed off, the community cannot access it or participate in the network, they also do not communicate with builders or the community. Their TWAP use to be 30Min like Liquity on ETH, which is 100% not ok for a volatile new chain, Their TWAP is now 15m, which IMO is still not ok for a volatile chain, this time weighted avg having a large gap creates a PLS price difference which allows an arb, This is why redemptions on LL is rekt. People take advantage of this known flaw by running flash loans against it. Instead of telling the community or addressing the issue, they have stayed quiet. They also did not tell the community they initially had a really bad TWAP and changed it, I don't think this was intentional but did come down to poor prior testing. Their oracle seems not viable to run enough reporters to have a shorter TWAP i.e 1 minute, meaning they cannot patch this flaw (TWAP is 15 mins likely to stay) and people will continue to take advantage. They can move to a fall back internal price feed, but at this time don't speak to the community to know if they would. People report 500% vaults being redeemed against when there are vaults in front of them that should be getting redeemed against first, I haven't looked into the code, but something does appear off. Their founders put up 0 liquidity to support their token or protocol. I now hear rumours about the team, ones I will not repeat, but ones that are not good. Yes, I could be wrong, everything here is my opinion and my opinion alone. I want them to succeed. I want everyone on PulseChain to succeed, but I don't like users getting hurt, I don't like people who are not transparent and I don't like people being dishonest when it's not their money on the line. Transparency with a community takes you far.
@KatieePCrypto Price would barley move and I login in to a redemption. TWICE! Even at 300%. I’m surprised people are finally talking about it. #liquidloans #LL