We work hard on minimizing the risk of hacking of our smart contracts. We do not provide financial advice. Risks associated with external protocols are not considered by our team yet, so, please do your own research and choose vaults carefully.
Positions not getting liquidated immediately
In some circumstances your position may not get liquidated immediately after the token price reaches stop loss or take profit level.
This rare scenario may take place, when the token price we get from Chainlink and the price we get from the DEX we use for liquidation differ by more than percent of slippage you specify during position creation. The high slippage may happen when the token price on a DEX is changing extremely fast either due to hectic market conditions (less likely) or because someone is manipulating the liquidity pool (more likely).
The liquidation will be performed once the slippage becomes within the limits specified by you (considering that the token price still will be either below the stop loss level or above the take profit level).
Liquidation price lower than the stop loss level
Please be aware that most likely the liquidation price will be a bit lower than the price you specify in the stop loss field, because the price may change between the time the liquidation is triggered and the token exchange gets completed (usually within a minute).
Stop loss data used by price manipulators
Minimax being a decentralized application, all the position data is recorded to the blockchain and therefore is publicly accessible.
Despite our best efforts, in some cases token price manipulations may become successful and your positions will get liquidated due to stop loss, while the token price may increase in a short period of time.
We are working tirelessly to make the platform as safe as possible.