ETH utilization at 83% and BAT utilization at 44%
Maker CDP's are going crazy!
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12-02-2019, 06:39 PM #7801*Instantly skipped on Omegle crew*
*Hair stylist won't even talk to me crew*
*Chat line operators hang up on me crew*
*Camgirls ban me from their room crew*
*Incarcerated women won't even mail me back when I fund their commissary crew*
*FA crew*
Cries about negs <--which cheeky mod did this?
dallas misc crew
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12-02-2019, 10:14 PM #7802
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12-03-2019, 05:00 AM #7803
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12-03-2019, 05:02 AM #7804
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12-03-2019, 11:06 AM #7805
A CDP is a collateralized debt position. I take $10,000 worth of BAT, lock it in a smart contract and get an extra $3,500 worth of DAI that I buy BAT or another asset with. I now have $13,500 worth of BAT and pay a 4% fee each year for interest. I can pay down the debt anytime or raise my collateralization ratio. So in this situation my collateralization ratio would be roughly around 280% and BAT would have to fall to $.11 for me to get liquidated. In the event of liquidation which is when the collateralization falls below 150% you pay back the debt and are hit with something like a 13% liquidation fee. In this scenario though i can pay back the debt at anytime to lower the ratio or take that extra $3,500 worth of BAT and throw it at the collateralization which brings the ratio towards something a little over 300% and a liquidation price of around probably $0.09
It sounds complicated, but once you figure it out and actually create a CDP its a pretty easy process.
The utilization rates of CDP's are also hitting their caps which means maker has to raise the caps on how much dai can be minted from CDP's
Nearly $1.5m for BAT and $46m from ETH
https://daistats.com/*Instantly skipped on Omegle crew*
*Hair stylist won't even talk to me crew*
*Chat line operators hang up on me crew*
*Camgirls ban me from their room crew*
*Incarcerated women won't even mail me back when I fund their commissary crew*
*FA crew*
Cries about negs <--which cheeky mod did this?
dallas misc crew
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12-04-2019, 07:45 AM #7806
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12-04-2019, 02:58 PM #7807
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12-04-2019, 04:44 PM #7808
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