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Trader Loses $5.7 Million To Slippage in Memecoin Trade

Monday January 15, 2024. 05:00 PM , from Slashdot
Web3 is Going Great: A trader looking to buy $9 million of a recently popular Solana memecoin, dogwifhat (WIF), lost $5.7 million of their funds to slippage as they placed a massive order in a pool with relatively low liquidity. $5.7 million of their funds were lost to 'slippage' -- the discrepancy in price that can occur when a trade is so large or a market is so illiquid that the trade itself impacts the asset price.

Read more of this story at Slashdot.
Read more at Slashdot
https://news.slashdot.org/story/24/01/15/1555226/trader-loses-57-million-to-slippage-in-memecoin-tra...

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