LAB (LAB)

$11.99100  -3.87%  24H

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  • DerParsel DeFi_Expert Educator B
     5.31K  @derparsel

    Piggybank team shared some more information on Discord after the $LAB incident. They are currently considering two different options what to do with funds when they will finally be able to sell their locked bag: 🔸 Airdrop to holders of pb tokens at last NAV snapshot before X announcement 🔸 Reintegration to the vaults NAV I am clearly in favour of the first option, because that is the only way to ensure that victims are compensated. With the second option, I fear even more chaos, and scalpers who enter the vaults at the last minute before reintegration would end up profiting, while those affected would be left behind. Some more statements from the team: 🔸 Next steps will be disclosed next week 🔸 Co‑founder himself said he was invested in vaults and is affected 🔸 They are "doing everything we can to save the protocol" 🔸 The first 35% of the $LAB tokens will be unlocked in August, and they will sell immediately 🔸 The project is run by 3 core team members

    DerParsel DeFi_Expert Educator B
     5.31K  @derparsel

    This feels wrong on so many levels. @piggybank_fi used a 'Long Spot / Short Perp' strategy, but not the way you should and how they explain in their own documentation. The result: Heavy losses (with the exact outcome yet to be known). This is my breakdown of the situation 👇 ▶️ WHAT HAPPENED? Piggybank invested $100,000 (approximately 2% of its portfolio at the time) in a mid‑cap basis trade. However, instead of buying the underlying asset on the liquid market, it acquired locked $LAB tokens at a discount through an OTC (over‑the‑counter) desk. A perpetual short position was opened as a hedge. The problem: The $LAB token experienced severe price manipulation, low liquidity, and deeply negative funding rates. This made maintaining the short position (hedge) too expensive and "economically irrational." Piggybank had to close the short position to limit the risk of further losses. However, since the purchased $LAB tokens are locked until August 14, the spot position could not be sold at the same time. Pigg

     19  3  1.10K
    Ler original >
    Tendência de LAB após o lançamento
     Extremamente Bearish
    Piggybank suffered severe losses from the LAB token investment, users face losses, and the author calls for compensation.
  • Kirari Community_Lead Educator B
     3.73K  @kiraridust

    i deposited in piggybank too 😂 good thing i already removed it. never got the interest but that’s okay 😁 THIS IS THE ONLY THING I CAN SAY ⬇️ https://t.co/o6SYrJ984r

    PiggyBank D
     4.17K  @piggybank_fi

    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 transpar

     12  5  130
    Ler original >
    Tendência de LAB após o lançamento
     Neutro
    The LAB locked position has been stopped out due to poor liquidity and hedge failure, with short‑term outlook unclear.
  • ©️Jamisky OnChain_Analyst Tokenomics_Expert B
     7.29K  @_Jamisky
    ©️Jamisky OnChain_Analyst Tokenomics_Expert B
     7.29K  @_Jamisky

    yesterday, i saw a platform that offers yield on tokenized stocks use customer funds to buy $lab via otc even worse, they hedged against the position hence causing their depositors more loses there are a lot of credible builders in this industry but folks like this makes it worse for everyone else sad for everyone clicking on chain knowing the source of the yield, what strategies and protocols your funds are deployed into is far more important than the yield itself

     62  34  1.26K
    Ler original >
    Tendência de LAB após o lançamento
     Baixista
    Platform arbitrage buying LAB and hedging caused depositors losses, warning of yield source risk
  • ©️Jamisky OnChain_Analyst Tokenomics_Expert B
     7.29K  @_Jamisky
    ©️Jamisky OnChain_Analyst Tokenomics_Expert B
     7.29K  @_Jamisky

    yesterday, i saw a platform that offers yield on tokenized stocks use customer funds to buy $lab via otc even worse, they hedged against the position hence causing their depositors more loses there are a lot of credible builders in this industry but folks like this makes it worse for everyone else sad for everyone clicking on chain knowing the source of the yield, what strategies and protocols your funds are deployed into is far more important than the yield itself

     62  34  1.26K
    Ler original >
    Tendência de LAB após o lançamento
     Baixista
    The platform used customer funds to buy LAB via OTC and hedge, resulting in losses for depositors.
  • ©️Jamisky OnChain_Analyst Tokenomics_Expert B
     7.29K  @_Jamisky

    yesterday, i saw a platform that offers yield on tokenized stocks use customer funds to buy $lab via otc even worse, they hedged against the position hence causing their depositors more loses there are a lot of credible builders in this industry but folks like this makes it worse for everyone else sad for everyone clicking on chain knowing the source of the yield, what strategies and protocols your funds are deployed into is far more important than the yield itself

     62  34  1.26K
    Ler original >
    Tendência de LAB após o lançamento
     Baixista
    Platform arbitrage buying LAB and hedging caused depositors losses, warning of yield source risk
  • flow FA_Analyst DeFi_Expert B
     7.30K  @tradetheflow_

    This is a @YieldCompass bull post btw.

    PiggyBank D
     4.17K  @piggybank_fi

    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 transpar

     7  0  1.27K
    Ler original >
    Tendência de LAB após o lançamento
     Altista
    LAB locked position valued at $1.35M, expecting returns after unlock.
  • Wu Blockchain Media Influencer D
     557.01K  @WuBlockchain

    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

     46  20  7.94K
    Ler original >
    Tendência de LAB após o lançamento
     Baixista
    PiggyBank因LAB对冲失败,导致其金库净值缩水高达15%。
  • 机灵的杰尼君🔶BNB Trader Quant C
     107.27K  @Meta8Mate

    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.

     19  12  7.21K
    Ler original >
    Tendência de LAB após o lançamento
     Extremamente Bearish
    PiggyBank suffered a massive loss of $1.35 million due to a failed LAB token hedge, author warns to stay away from DeFi.
  • Koki Influencer Educator S
     17.81K  @k0k1eth

    The last 24 hours in crypto: - @Arivulife got a crypto ticker tattooed on his forehead for a $2.4K bounty - The ticker was misspelled, but the mistake was in the original bounty description, not his - The creator still refused to pay - The community stepped in, launched a new token, and earned him $15K+ in fees - The original creator is now offering $3K for him to fix the tattoo - Piggybank allocated user funds to buy $100K worth of discounted, locked $LAB tokens - A short position was opened to hedge against price risk - Market manipulation made maintaining the short unsustainable, so it was closed or liquidated - The tokens are now sitting at $1.35M on paper but remain locked until August 14 - With no hedge in place, vault losses hit ~15% in USDC, ~12% in SPYx, and ~9% in JitoSOL

     5  2  84
    Ler original >
    Tendência de LAB após o lançamento
     Baixista
    The tweet reports two crypto events: a man gets community support after a misspelled tattoo, and Piggybank suffers DeFi strategy losses due to market manipulation.
  • PANews丨APP全面升级 Media Researcher C
     97.66K  @PANewsCN

    PiggyBank admits a LAB token basis trade mistake, causing the USDC vault NAV to drop about 15% today. The yield protocol PiggyBank posted that last month it bought locked LAB tokens at a low price via an OTC deal of about $100,000 and hedged the position short, but LAB subsequently suffered market manipulation, liquidity depletion, and deeply negative funding rates, forcing the team to close the short to limit losses. The current locked LAB position is valued at $1.35 million, and due to insufficient liquidity it will be excluded from NAV until the first unlock on August 14. Today the USDC vault NAV fell about 15%, SPYx about -12%, JitoSOL about -9%. The team says a detailed report and next steps will be released next week. Previously, on-chain investigator ZachXBT publicly questioned that PiggyBank controls over 95% of LAB supply.

    PiggyBank D
     4.17K  @piggybank_fi

    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 transpar

     3  14  4.32K
    Ler original >
    Tendência de LAB após o lançamento
     Baixista
    LAB basis trade mistake caused USDC vault NAV to drop about 15%