> One was swapping almost all the UNI tokens out of the DEFI5 pool, the otherwise irrational trade that distorted the pricing such that Medjedovic could buy tokens out from under Indexed users, who were forced by the algorithm to sell. “The only purpose of that trade was to mislead token holders to part with tokens on terms they never would have agreed to,” says Stephen Aylward, a lawyer representing Kellar and Day. “We say that's a form of market manipulation.” The same argument applied to Medjedovic's interaction with the CC10 pool.
Shame you can't manipulate an unregulated market. It's not illegal to do irrational things. Hell, even the regulated markets say, "The market can remain irrational longer than you can remain solvent."
Shame you can't manipulate an unregulated market. It's not illegal to do irrational things. Hell, even the regulated markets say, "The market can remain irrational longer than you can remain solvent."