Lucky Investor Turns $200 into $250,000 in a Matter of Minutes
We have yet another moonshot tale to tell today regarding the Decentralized Financial space as a glitch in what was known as the Soft Yearn Finance network.
It was a project that was solely meant to be pegged to the Yearn Finance token which acts to override all of its token holder’s balances everyday in a 24 hour process called “rebase” to return to its pegged price.
However, the problem came when it listed on the uniswap exchange platform as its prices literally spiked to a whopping $160 each but then fell flat back down to less than a penny.
There were a few minutes of leeway during that unforeseen cycle and low and behold, one investor who initiated a sell transaction by chance while the protocol was having an error on its rebase system resulted in turning his $200 trade to $250,000 in but a matter of minutes. Imagine that.
About FIAT DEX
FIAT DEX is a specially designed decentralized exchange for ERC-20 tokens using an off-chain order book with on-chain settlements all done via smart contracts on the Ethereum Blockchain. As such, no one will ever need to register or login unlike with other centralized exchanges and no such custody of tokens will take place whatsoever on our platform, assuring a perfect two-way pass-through of all commencing trades.
FIAT DEX is the newest project launched by FIAT Exchange, a pioneer in the consensus industry and a well-renowned veteran financial group offering all-in-one services encompassing everything there is to launching a token offering, ensuring safety and transparency through legal compliance with consultants to help innovative start-ups, promising businesses and established corporations launch their own Initial Exchange Offering, Initial Coin Offering, Security Token Offering or Reverse Token Offering effectively, efficiently and successfully.
The FIAT DEX project aims to evolve the way ERC-20 token trading platforms are used and revitalize the decentralized market.
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