The spreads have been increased (we lowered the 1% depths from 2x binance depth to 0.
12 Nov 2022, 19:45
The spreads have been increased (we lowered the 1% depths from 2x binance depth to 0.5x binance depth) due to the insane volatility for the last few days as a temporary risk management measure.
Due to the urgency we didn't have time to make a proper banner however we've pushed an update a few days ago already that highlights when the spread is pretty big (it gets more red), and the spread has always been visible.
Opening a trade is also automatically disabled once the spread reaches a high value on the frontend as an additional protection for traders.
I cannot let some of you say that it is greedy or unfair somehow, because you are free to open the trade or not given the spread shown, it is fully transparent and does not affect any already open trade.
This measure is the most efficient way we found of limiting the exposure on all crypto assets during these crazy times and it is our way of managing risk for the moment (even tho not ideal ofc).
But I simply cannot let anyone compare this to what FTX has did by straight losing customers deposited money, it is disgusting to read this comparison...
We're actively monitoring the situation and looking to reduce the spreads once things calm down a bit.
Thanks for your understanding!