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Due to a cascading margin call event, WILD experienced a price flash crash, prompting Arthur Hayes to post a buy-the-dip call.
BlockBeats News, November 4th, Wilder World team members posted an update yesterday stating, "At around 15:45 on November 3rd, WILD experienced a rapid flash crash, which is still ongoing. This event was not caused by a security vulnerability or attack but originated from a cascading liquidation event in the WILD PeaPods lending pool.
In short, our integration with PeaPods brought about unforeseen systemic risk, which we did not fully understand at the time. Unfortunately, under extreme market conditions, this risk was triggered, leading to forced liquidations and a sharp price drop."
BitMEX co-founder Arthur Hayes commented on this, saying, "Please make sure to understand the risks associated with leverage and borrowing in DeFi. You should never be liquidated. That being said, thank you for giving me the opportunity to buy more WILD tokens at a lower price. Can't wait for the Open World launch in December!"
At the time of the post, WILD had plummeted over 65% in the past 24 hours, with a market cap of $33 million.
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