I love this, makes a lot of sense and should be implemented asap.
1 Like
In the worst case scenario, if you’ve bought that 5% discount queue spot on Asset 1 with borrowed MIM from your collateralised Asset 2 and Asset 1 dumps well below that 5% it could put a lot of stress on other parts of the protocol, right?
Could this cause a liquidation event in one asset/cauldron to leak into other assets if they are collateralised and leveraged to buy Asset 1 that is already under water when the purchase happens?? If so, that’s concerning because it breaks one of the fundamental stability mechanisms of the protocol in compartmentalisation.
It’s a difficult scenario to imagine in the mind, please correct me if there is a flaw in my thinking.
Completely agree with the proposal. Hope we get to vote on it soon enough
UST depeged to .90 this year, and thats over 1B in liquidation. Would love to see some feedback on how the queue would handle this kind of capital requirement
Problem here is that on this topic we have kujira team, kujira fanboys (people that just come to back up the proposal with 1 sentence and no arguments), a guy that has previous (bad) past with kujira team(doomer), few of real abracadabra community members(d4nny federico) and the ozy guy who seems as most informative and unbiased.
If we delete all the nonsense posts that dont contribute anything with their 5 word approval phrase, we get doomer and ozy guy discussing this with kujira team (with handful of additional good posts).
I believe if this gets up to the voting part, we should beforehand get a opinion form fathers of our “nation” -you know who you are - dani, melen, squirrel, wicked etc. I would not like for the fathers to vote on this with their big bags (doesnt matter for or against) without at leasting sharing their opinion with us.
Also how did this topic got to RFC status? Its not as nearly informative as some of the other proposals.
1 Like
I Don’t know why you are making a big fuss about it, he’s proposing giving you liquidated collateral I don’t mind if its 0.001 % or 50% cheaper you , the point is you will get the asset you are biding on at a discounted price which you can sell right away or hold for instant profit …!!!
Some people actually described in huge detail why they are making fuss about it, which you failed to address in your post completely, and then continued to write stuff that doesnt have anything to do with the issues mentioned and started to describe basic functioning of the kujira dapp, like everyone else is utterly clueless.
Fantastic stuff.
2 Likes
@ozymandias has it right, happy to admit I have been building my own bot for the simply fact its free and already open to anyone. Since the day I joined abra’s discord its been clearly communicated to me that liquidations are available to anyone. Danni himself said so in an AMA so I started investigating and I agree with ozy’s take here.
1 Like
i will just say this during the latest crypto decline yesterday if it wasnt for kujira Luna would have went down to 80$ now thats a fact that im sure they will boast about in the near future, whatever you say or think this thing is plain simple and doesnt need that much explaining really … wait 2 months and see the amount of liquidation apps pop up then say …
where are the issues i dont get it ?
you Forgot to mention the amount of actual whales in this forum that would literally do anything to stop this collab so that can keep profiting of you guys … i think that outweighs the amount of Kujira moon boys and there 100$ at stake in kuji dont you think ?
1 Like
Man there is 70 posts here, half of them are shorter then a tweet - disregard, half of the 35 left are from Kuji team - disregard, out of 17 left half are from a guy that has/had some issues directly with them - disregad, that leaves you with 8 posts to evaluate. Out of those 8, i have 2 and you have 2, so just read those 4 posts from @ozymandias and you will get what the issue is.
2 Likes
what about on a day like today?
Solid response. Bumping it up for newcomers.
I’d strongly reject this proposal for several reasons.
- The current liquidation system has just been battle tested and proved to work during the latest events, high amount of liquidations, and TVL decrease.
- The current liquidation system proves there is healthy competition across liquidation processes and stakeholders.
- The MakerDAO-inspired suggested solution introduces a lot of complexity, whereas it should follow the kiss principle (keep it simple and stupid).
1 Like
Thank you for the information.