Vitalik Buterin Closes Short With Profit: How Much Profit Did He Make in 7 Months?

Vitalik Buterin, the founder of Ethereum (ETH), closed his short position, earning over $92k in unrealized gains from the Rai Reflexer Index (RAI) token in 7 months.

On-chain researcher Kyoronut recently posted on his official social media account. according to a post Vitalik Buterin, approx. 7 months before 400 thousand RAI borrowed from 1.22 million stablecoin DAI some and some ether He paid off his debt by selling it. Founder, approx. 230 from his position 92 thousand dollars earned.

Buterin is about to liquidate the position. 356 thousand DAI and 466.3 ETH when selling 1.22 million net yield from dollar capital 7.54% it happened. According to the data, RAI/DAI parity at the time of Buterin’s position opening $3,053 parity in the intervening time, 8.7% depreciated until Buterin closed his position. 2,786 declined to the dollar level.

In addition, Kyoronut recently made a in another post, After closing Buterin’s position 2 days Then 500 ETH using 100 thousand RAI more debt and this debt 279 thousand DAI He said he used it to buy.

On the other hand, RAI co-founder Ameen Soleimani via the official social media account in a post he madeRAI borrowing as collateral only Ethereum one to accept error and RAI redemption rates negative stated that it should. Soleimani used the following statements on the subject:

Even Buterin knows that RAI amortization rates must be negative to reflect the opportunity cost of RAI. We can solve this situation by adding stETH to the collateral options, but for now the only way to do this is to restart the RAI network. It is obvious that this situation will bring coordination and cost.

What is RAI?

RAI any nominal currency or to commodity connected non- however algorithmic somehow stabilized an experimental stablecoin. Thanks to its algorithm, RAI is much more efficient than other cryptocurrencies. low a to volatility is exposed.

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