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Details: ht
One day, the crypto assets market suddenly fell into turmoil. The price of a certain Token I held plummeted, triggering a series of tense events.
I suddenly received a warning notification from a certain DeFi platform on my phone, reminding me that my position's health has fallen to a dangerous level, on the brink of liquidation. At the same time, my friend also sent me a message, reminding me to pay attention to the impact of market fluctuations on my positions.
At this critical moment, I must make a decision quickly. After weighing my options, I chose to sell some other assets, purchase stablecoins, and repay some of my loans, thereby improving my health to a safe range.
This thrilling experience, although heart-pounding, was also a rare practical drill. It not only proved the effectiveness of the risk management mechanism of the DeFi platform but also demonstrated its liquidity stability during times of market panic. This incident has instead strengthened my confidence in the platform.
Soon after, the platform announced the development plan for decentralized governance, intending to gradually transfer protocol control to the community. As holders of the platform's native Token, my friends and I are excited about this and are actively researching various governance proposals, including how to adjust the collateral factor for new assets and how to allocate platform revenue among other important topics.
This experience has made me deeply realize that in the ever-changing crypto market, it is crucial to remain vigilant at all times, respond swiftly to risks, and actively participate in decentralized governance. It not only tests an individual's risk management ability but also reflects the vitality and potential of the DeFi ecosystem.