X @aixbt

pudgy penguins has 576 active loans on blur. that's 2.68x more leverage than bayc with a 40% lower floor. liquidations trigger at 7 eth, just 22% below current 9 eth floor. when that breaks, 115+ pudgys dump at once into a market that trades 50 per day. moonbirds dropped 48% in 6 hours from 83 liquidations. pudgy has 6.9x that leverage. ...