Defi Saver integration

Ideas
1

“Liquidation” is what most users avoid

So I suggest integrating DefiSaver!

1 Like
2

Great project,
but when happen event like “DAI liquidation”, repayment automation cant protect you.
Automatic debt repayment feature is great idea but I didnt find dapp (except Defi Saver) that offer similar solution.
I was contact Defi Saver support and they told me that tool dont work when an event such as an aggressive DAI liquidation occurs. Obviously when it comes to oracle manipulation and frontrunning there is hardly anything that can be done.
I just have to praise their team and support because they are transparent, fast and answer user questions in detail.

2 Likes
3

What exactly would an “integration” look like in this case? I visited the site and from what I can tell it already looks to be working for Compound (although I have not yet tried it out).

Regardless, I agree with @dabar90, it is more prudent that we fix the oracle issue first.

Anyway, I think it looks like a cool project!

1 Like
4

In short,
for using Defi Saver users need first create Smart Wallet (cost gas fee) and then manually move funds (alone or in pair lending-borrowing) from Compound dashboard to dapp Smart Wallet (also gas fee).
After you migrate positions from Compound, your positions are only visible in Smart Wallet.
In Smart Wallet you can automatize repaying debt in case that price goes down, or leverage if price goes up (setup yourself in %).

1 Like
5

DefiSaver

I’m sorry I can’t use it

I strongly think that automatic repayment is necessary

Do you have a good idea?

1 Like
6

It is, maybe in a different form. For example on Compound we could implement one of the similar features:

  1. Time-lock interval - in which user can react to an event
  2. 5% flexibility (something like Aave - they set liquidation event trigger on 80% LTV)

My opinion is that FLASHLOANS are the main reason for aggressive liquidation. With flash loan you need a script and 50$ in Ethereum to liquidate someone. (find on youtube EatTheBlock tutorials for a deeper explanation).
But in the scenario where protocol migrate to Layer 2 (in Compound case - Compound chain, others on Optimistic) there is no need for flash loans(in our case) because the cost of the transaction will be negligible.
Given the price of Ethereum and the high gas fee, I don’t execute transactions below 1000$. When I mine/earn that amount I supply to protect positions.

1 Like