Codatta ($XNY ) The rewards for the third and fourth weeks of the Booster event are about to be unlocked! Based on calculations, they are currently worth approximately 28U, which is enough to match a small Alpha event! So, before the rewards are distributed, what should we pay attention to?
- Rewards will be unlocked before 08/22, and there will definitely be price fluctuations in the near future.
- $XNY has contracts on Binance, so the price fluctuations may be more intense due to factors like liquidation and funding rates.
- You can use contracts to hedge in advance to secure the reward amount, but $XNY has previously seen a single-day increase of 91%, so be cautious of liquidation events targeting hedging.
- Be mindful of the funding rate risk when hedging; make sure you don't earn interest but lose your principal!
However, the unlocking of rewards will definitely be accompanied by dramatic price changes. You can hedge using contracts in advance, but you must be careful of funding rates and the possibility of direct manipulation by market makers leading to liquidations. After all, the rise from the price low has been as high as +655.27%.