故事比人好听
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Oh no! I finally understand why Zhao Changpeng said that future exchanges should not audit any tokens and should aim to create decentralized exchanges!
Today there was a major incident that many people in the crypto community are likely aware of, where a certain platform's market maker set the sell price at 0.15 and the buy price at 0.13! Retail investors discovered this and went crazy trying to counter it, causing the trading volume of this token to reach 10 billion. Afterward, the platform froze all users who had traded this token, and if everyone could withdraw, the total loss would be around 1 billion. With such a large amount of capital, is the market maker acting as a market maker or is the platform itself?
Only today did I understand why Zhao Changpeng previously said platforms should not participate in token audits; I even thought he was being irresponsible.
Now I realize that Zhao Changpeng was right. We purchased tokens because of decentralization, yet we are still trading on centralized exchanges and expecting them to be responsible for auditing decentralized items! This is very contradictory.
We believe that every individual has good character, but the power of interests is immense; it can corrupt an individual, but it cannot corrupt a group.
In the future, I will only hold BNB and the tokens of decentralized exchanges as a sign of respect. $VOXEL
Today there was a major incident that many people in the crypto community are likely aware of, where a certain platform's market maker set the sell price at 0.15 and the buy price at 0.13! Retail investors discovered this and went crazy trying to counter it, causing the trading volume of this token to reach 10 billion. Afterward, the platform froze all users who had traded this token, and if everyone could withdraw, the total loss would be around 1 billion. With such a large amount of capital, is the market maker acting as a market maker or is the platform itself?
Only today did I understand why Zhao Changpeng previously said platforms should not participate in token audits; I even thought he was being irresponsible.
Now I realize that Zhao Changpeng was right. We purchased tokens because of decentralization, yet we are still trading on centralized exchanges and expecting them to be responsible for auditing decentralized items! This is very contradictory.
We believe that every individual has good character, but the power of interests is immense; it can corrupt an individual, but it cannot corrupt a group.
In the future, I will only hold BNB and the tokens of decentralized exchanges as a sign of respect. $VOXEL
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