Wintermute: Severe "inventory shortage" issue occurred in the DeFi market during the "10.11" crash event

BlockBeats reported on October 20 that Evgeny Gaevoy, founder of crypto market maker Wintermute, stated during The Block's podcast that, "During the '10.11' crash, there was a serious inventory issue in the DeFi market. Our positions were on a certain exchange, but we couldn't transfer them out, so we sold everything we could on DeFi, and bought everything we could on that exchange, but couldn't complete the asset transfer, resulting in a liquidity imbalance."

Gaevoy said that although arbitrage could be done through lending or cross-market pricing, the risks were high and the operations were complex. In this incident, many competitors' risk control systems triggered circuit breakers and suspended DeFi trading. Nevertheless, he expressed satisfaction with his team's performance, saying, "Although we could have made more money, we did indeed run out of inventory."