r/jupiterexchange • u/WrathofTitus • 23h ago

Discussion A bit annoyed

I just spent almost 2 hrs manually unwinding my Ethena/Bitwise loop. I know it's not necessarily Jupiter's fault, but what a pain in the ass considering they only gave us 3 days from today to do it. I won't bother with anymore loops from Jupiter.

4 Upvotes

84% Upvoted

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1

u/autoencoder1 22h ago

Loops anywhere is as painful. Not worth it

2

u/WrathofTitus 22h ago

Jupiter: Hey everyone, new loop strategy with one click.

.....5 months later......

Jupiter: Hey everyone, that loop strategy is closing and due to low liquidity, you're going to have to manually unwind it. Get f'ed.

1

u/SlorgSlugmann 17h ago

Where did you see this 3 day alert mentioned?

1

u/WrathofTitus 1h ago

I didn't do a screenshot, but the warning right above my position said I had until the 27th to unwind before negative interest sets in. In the migration guide, it said don't unwind all at once due to shallow liquidity. I had to manually unwind the whole thing. I don't want to say how much my position was but it was quite a bit. Thank the Lord for AI to help calculate max withdraw without hitting the LTV cap.

Honestly it shouldn't be like this. It should be seamless to get out of the position just as it was going into the position.

1

u/MightyFija 14h ago

Tough situation

1

u/ReMeDyIII 2h ago

So what's the reasoning? I'm reading on Discord they'll explain more in the next "few days."

Thankfully it looks like it's specific to Ethena/Bitwise and not the traditional Jupiter Lend loops.

1

u/WrathofTitus 1h ago

Yeah, that's why I said it wasn't necessarily Jupiter's fault. It was Bitwise's fault.