Note: This is not financial advice. Hubble Protocol does not endorse any tokens or platforms mentioned in this article.
Hubble Protocol has improved the liquidation UX on the platform. USDH Vault providers might enjoy their liquidation rewards, but it's an overall poor user experience to end up on the liquidated side of that exchange.
The protocol is doing a lot to figure out ways to reduce the number of liquidations on the platform, and one of the first steps being taken 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. Users can now sign up for this service and receive a notification when their loan on Hubble reaches a dangerously high loan-to-value ratio that could subject their account to liquidation.
This article will explain more about how Notifi works and how users 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 the loan's liquidation threshold and thinking, "If only I had known something, I could have done something!"
Hubble is integrating Notifi to make sure 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 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 a Hubble loan can help alert users whenever their LTV reaches an unhealthy level. Here's how to get started.
Connect a Wallet and Navigate to the Loans Page
Connect a wallet and go to the Loans page on Hubble. If this is the first time visiting the page since Hubble integrated Notifi, users will see a pop-up about setting alerts when their LTV is high.
Enter Contact Information and Choose an LTV
Users can enter an email address or phone number to receive alerts when their LTV reaches a certain point. Then, they can choose what LTV they would like to be contacted at, and press Subscribe.
Users will be prompted to approve the transaction in their wallet. Once the transaction is approved, it's all set!
Now, whenever a USDH loan on Hubble reaches a designated LTV, users can receive a message by email, SMS, or both.
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