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.
“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?