There is no proof because price discovery source is centralized?
If you think this is normal market situation then we all are in trouble.
than why compound protocol take that oracle solution?
If Compounds outstanding debt in DAI caused this event then we don’t have a reliable protocol.
To note,
somebody liquidated my collateral in ETH so info above are useless. I run normal business and why I need to put stablecoin in collateral if I borrow stablecoin?
And why i was not able to protect my position at that moment? Why gas fee go up to 500 gwei and higher?
- Spike only on one exchanges
- Protocol use only that price discovery source
- Spike in DAI which is the largest pool on the protocol
- Front-running elements in liquidation
- DAI spike last only about an hour ( enough for a hack )
And you tell me this is normal market behaviour?
What caused this DAI spike in Coinbase?
Why somebody buy DAI for 1.3$ if an another place can buy for 1$?
You don’t have arguments about this event and then the conclusion is that for example Coinbase price of ETH can go from 500$ to 10$ at only one source for just an hour and that I need to accept that situation because I knew about the “oracle bug” on the protocol?
In your statement, you mean that this protocol was made for liquidators?
A lot of you are scattered with big statistics that mean nothing when the situation is simple.
Also simple is reason why “community” vote against compensation:
- Compensation in COMP does not fit for VC funds and other big COMP holders
- Except COMP we dont have resources for compensation