Tough time for Penguin holders.
Leveraging NFTs is not the answer.
Another massive wave of Pudgy Penguin loan auctions have started overnight.
> 100+ Auctions
> 10 currently under water
> massive pile around 5e
If we want stability we need lenders to stop pulling their loans. Also if you’re a borrower… borrow modest LTV (<75% not 90%+ LTV 💀)
Only thing we can do right now is huddle together and brace for impacts 🥹🐧

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