I am the owner of Vault #4458. I had 355.77 ETH locked as collateral, and it appears that the vault was liquidated at an ETH price of $143.01. The debt was 35,613.38 DAI. By my calculations, approximately 281 ETH would have been sufficient to cover the outstanding debt (with 13% fee) at liquidation, leaving me with ~74 ETH.
However, I am left with 0 ETH. Can anyone explain? Thanks
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I’ve been interested in crypto since 2013, it’s an amazing idea to me, I’m not super educated on it but still want to be a part of it. Lately I’ve been using compound finance as a defi platform. I supplied 626 dai and keep up with it on defisaver. I watched the market liquidity drop from 9 million dai to 46k in about 45 minutes of refreshing the page. What does this mean and what happens when it hits 0? I just can’t find any information on this anywhere and haven’t seen any posts yet. Thanks in advance.
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My liquidation price is $135, ETH has gone below it several times today, but currently $138. I am trying to add ETH collateral to bring the liquidation price down, but the transaction just sits in Pending on the blockchain. This is completely useless!
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Don't want to create panic and please help to shed light on it if you know more.
But it seems someone is bidding 0 on collateral for liquidations and trades are still executed. Daistats.com show more than 2 million usd in accumulated losses for the system. Something seems to be wrong here and devs should look into this urgently!
Once again, please correct me if I am overlooking something here, but this looks very weird! Hope it is just a data error.
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CDP Owners: If you see that the next price update in MakerDAO is below your CDP/Vault liquidation price, please make adjustments to protect your CDP accordingly. We recommend Repaying, Paying back debt or adding more collateral to increase your ratio.
Automation users: In case the price in MakerDAO drops below your liquidation price the system would be racing against the liquidation bots trying to Repay your debt before liquidation is initiated. We cannot provide any guarantees regarding outcomes in such a scenario.
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What does the current rate imply? Why are people buying expensive DAI right now? Is it because the saving yield is too high? Isn't there a risk that the stable coin is not a stable coin anymore?
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So far, the most recent executive spell, which would enact the most recent DSR spread poll result (1%), has not gathered sufficient MKR to be cast.
If that continues until Friday's executive vote, should the new execute reflect the most recently polled (but not executed) DSR spread (1%) or the most recently executed DSR spread (0%)?
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Since everything is not absolutely clear to me yet: Will my CDP be liquidated completely once the liquidation price is reached, or will it just be reduced by 13% (which is the current liquidation penalty) and the rest sent back to my address?
Originally from MakerDAO https://ift.tt/3cVA03J
It seems like AAVE, Compound, DYDX, etc. and the ethereum environment are benefiting from the stability of dai and using it to innovate. With the dai savings rate, this is all at the cost of MKR holders.
I am all for the Facebook approach of not worrying about maximizing profits, and just focusing on wide adoption but with AAVE and Compound mirroring every step Maker takes this is reaching a breaking point. AAVE is utilizing their liquidity pools for flash loans while Maker seems to have no interest in utilizing locked funds. I just anticipate Maker’s market share to continue to dwindle if we do not innovate. It is not enough to just keep adding the options in collateral. AAVE and compound will just copy these moves and provide fractionally better rates.
MKR developers are unaffected by this since they stand to gain more money in their other daos ie: MolochDao and MetaCartel. They’re being introduced to the newest tech and getting free coins like META.
I am thankful for what Maker has done for ethereum but as a MKR holder I feel like the laughingstock of DEFI. Every other project leaches off of the stability we pay for, meanwhile instantly copying every innovation made so Maker can’t set itself apart.
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1) Is 13% liquidation fee calculated towards the debt or the collateral?
2) A CDP will be liquidated at 150% ratio. Then I pay 13% liquidation fee. What happens with the 37% of my collateral left (150% -13% = 37%). Do I get it back?
3) If yes -> as long as I understand, if my CDP gets liquidated, I am only loosing 13% liquidation fee. Because I keep the withdrawn DAI + 37% of the collateral.
Collateral = 1 ETH = 200$
Debt = 100 DAI
Eth price falls to 150$ and the CDP gets liquidated.
I am keeping the 100 DAI. What is the amount of liquidation fee and how much ETH I get back too?
It is pretty annoying that basic and simple math like this is not explained anywhere in a structured and convenient way.
Let's fill that gap...
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