Now seems to be a great time to discuss some major topics and issues surrounding the OKEx Bitcoin Future saga. OKEx force-liquidated a very large (~$400m notional) bitcoin futures position. The size of this position triggered a socialized loss on the OKEx platform to be split proportionally by all profited traders’ realized + unrealized gains. The loss to investors is almost $9m. The ending of this story is still TBD.
MARKET Protocol was designed and implemented to address a number of these issues providing a decentralized solution to prevent exactly what happened on OKEx. Their CEO, who's been a derivatives trader since 2005, shares his 2 cents on how all could have been prevented!
https://medium.com/market-protocol/how-we-could-have-prevented-the-okex-bitcoin-futures-fail-55cc63c1a39a
