Hubble Protocol hates really dislikes when users get liquidated. USDH Vault providers might enjoy their liquidation rewards, but it's an overall poor user experience to end up on the losing side of that exchange.
We're doing a lot to figure out ways to reduce the number of liquidations on our platform, and one of the first steps we're taking is integrating Notifi "margin calls" for everyone's benefit.
Notifi allows Web3 protocols to ping users through email, text, or even on Telegram with urgent news and updates. You can now sign up for this service and receive a notification when your loan on Hubble reaches a dangerously high loan-to-value ratio that could subject your account to liquidation.
In this article, we'll explain more about how Notifi works and how you can enable its services to make Hubble easier to use than ever.
Why Use Notifi?
The crypto market is notoriously volatile. Not only can the price of crypto tokens fluctuate wildly, but they can also do so at any time of day, since crypto is a 24/7 market.
On top of this constant volatility, the sheer size of price swings can make most traders in traditional markets shudder to think of their positions sustaining such violence. Even crypto's top token by market cap, BTC, faces extreme ups and downs over relatively short periods of time.
One of the worst feelings after being liquidated is seeing prices rise back above your loan's liquidation threshold and thinking, "If only I had known something, I could have done something!"
Hubble is integrating Notifi to make sure our users have a chance to top up or repay their loans in time. This is a truly revolutionary service in decentralized finance (DeFi) that could save many of our users' losses from liquidation, and participation in Notifi's notification services will remain completely optional.
Setting Up Notifi on Hubble Takes Just a Few Steps
Setting up Notifi for your Hubble loan can help alert you whenever your LTV reaches an unhealthy level. Here's how to get started.
Connect Your Wallet and Navigate to the Loans Page
Connect your wallet and go to the Loans page on Hubble. If this is your first time visiting the page since Hubble integrated Notifi, you'll see a pop-up about setting alerts when your LTV is high.
Enter Your Contact Information and Choose Your LTV
You can enter an email address or phone number to receive alerts when your LTV reaches a certain point. Then, choose what LTV you'd like to be contacted at, and press Subscribe.
You will be prompted to approve the transaction in your wallet. Once you approve the transaction, you're all set!
Now, whenever a USDH loan you're holding on Hubble reaches the LTV you've designated, you will receive a message by email, SMS, or both. Stay safe out there!
NB: If you choose to opt out of signing up for Notifi, you will not see this pop-up again.
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