Refinance loans on other platforms (maker, aave, compound) into Abra cauldrons

skyzer · January 2, 2022, 11:33pm

Since now I can borrow MIM with 0% interest on Abra giving WETH or yvWETH (already earns 1.14% yield!) as collateral, I was thinking to refinance my loans on other platforms - maker, compound, aave.

From Discord:
“gents in order to facilitate refinancing of maker vaults into abra cauldrons is there any plan for a flash-refi? Consider the user whom has outstanding dai debt against an eth vault but desires to refi with abra - they need to flash borrow dai, paydown vault, move/wrap eth to cauldron, borrow mim, swap to dai and repay flash loan”

I pay on Compound 4.5% interest atm, to refinance, would need the following script:

Flash loan stables
Pay back my stable coin loans on Compound with flash loan
Withdraw my ETH collateral on Compound
Deposit ETH to Yearn, receive yvWETH, earn 1.14%
Borrow MIM on Abra with yvETH as collateral
Swap MIM to stables to pay back flash loan
as a bonus: deposit MIM to degenbox to farm UST at Anchor with leverage

Is anybody working on it?

skyzer · January 29, 2022, 1:37am

Here’s public gist

gist.github.com

https://gist.github.com/skyzer/d0706ec102b0eb4e1d35691a18984478

MyV2FlashLoan.sol

// SPDX-License-Identifier: UNLICENSED
pragma solidity 0.6.12;
pragma experimental ABIEncoderV2;

import {FlashLoanReceiverBase} from "@aave/protocol-v2/contracts/flashloan/base/FlashLoanReceiverBase.sol";
import {SafeERC20} from "@aave/protocol-v2/contracts/dependencies/openzeppelin/contracts/SafeERC20.sol";
import "@aave/protocol-v2/contracts/interfaces/ILendingPool.sol";
import "@aave/protocol-v2/contracts/interfaces/ILendingPoolAddressesProvider.sol";
import {IBentoBoxV1} from "@sushiswap/bentobox-sdk/contracts/IBentoBoxV1.sol";
import {IERC20 as IBentoERC20} from "@boringcrypto/boring-solidity/contracts/interfaces/IERC20.sol";

This file has been truncated. show original

Topic		Replies	Views
Feature Request: Use Flashloans to Migrate Positions from Deprecated Cauldrons 💡Idea Discussions	0	373	November 24, 2021
AIP #48 - Increase Ethereum Mainnet cauldrons interest rates to 15% across the board Voted Proposals	1	643	March 30, 2024
AIP #13.5: Interest rate adjustment for the CRV cauldrons Voted Proposals	5	6082	August 18, 2023
AIP #46: Add an ETH based cauldron on Blast Voted Proposals	1	962	March 25, 2024
New Lending Site/Dapp. Help alleviate some pressure for MIM replenishments 💡Idea Discussions	0	418	November 29, 2021

Refinance loans on other platforms (maker, aave, compound) into Abra cauldrons

Related topics