This is a @YieldCompass bull post btw.
LAB Live Price data
LAB LAB Price History USD
Own LAB Now
Buy and sell LAB easily and securely on BitMart.LAB X Insight
Dear Community,
- One month ago, PiggyBank got into a new position for $100k (~2% of the portfolio at the time), as part of the strategy’s scope of deploying into mid-cap basis trades.
- The strategy involved purchasing locked $LAB tokens at a significant discount through a Tier-1 OTC desk and hedging that exposure through perpetual shorts. During the holding period, $LAB experienced violent manipulation, including chaotic price movements on thin liquidity, and deeply negative funding rates.
- Maintaining the hedge became economically irrational and would have caused us to cross our risk thresholds. We therefore decided to close our short to cap the downside.
- In accounting terms, the total value of our $LAB locked position is $1.35m at current prices. However, due to the illiquid nature of this position, Piggybank is excluding it from the NAV until the first unlock on August 14. Even though this is an evolving situation that could still generate substantial returns, this is the fairest and most transparent handling.
PiggyBank Unwinds LAB Hedge, Reports Up to 15% NAV Drawdown
PiggyBank said it closed a LAB hedge after extreme volatility and negative funding rates made the position unsustainable. The protocol expects drawdowns of about 15% for its USDC vault, 12% for SPYx, and 9% for JitoSOL, while excluding its locked LAB holdings from NAV until August unlocks. ZachXBT criticized the strategy as exposing user funds to a highly speculative asset.
https://t.co/wGPMD539DS
XSWL,
Sorry to meet you in this way @piggybank_fi ,
No wonder it's PiggyBank.
In plain language:
This guy used user funds to OTC about $10 万 of $LAB (locked),
Then tried to short hedge to lock profit early.
Who knew that with $LAB's rocket, fearing liquidation he could only close the short,
Resulting in a net loss $135 万,
Leaving a bunch of un‑hedged locked tokens in his hand,
Hoping to recover after the August unlock.
Bro, if $LAB still has this price in August, I'm dead. 🤣
Stay away from DeV, they're just finding ways to scam users' money.
Price Prediction
When is a good time to buy LAB? Should I buy or sell LAB now?
Beacon Prediction
Probabilistic Price Forecast (Next 24 Hours)This prediction is an experimental technical product and is provided for reference purposes only. It does not constitute investment advice. Unexpected real-world events may significantly impact market behavior. Traders should make decisions with caution.
Explore More
BM Discovery
New Listing
