In the light of recent Black Thursday events, we have prepared a major Automation update that would successfully keep all CDPs safe against liquidation in a similar event.
You can find the list of changes in Automation v2 below.
Support for next price in MakerDAO
The greatest issue on Black Thursday, was the inability of Automation to react to the next scheduled price update in MakerDAO. It couldn't adjust
We have updated Automation so that it can react to the next price update in MakerDAO before it goes live. In case the next price update pushes your CDP/Vault ratio to a very risky level (<160%), Automation will kick in even before this price update actually goes live in the MakerDAO system.
Flash loan powered Boost and Repay
Extended Boost and Repay are the flash loan powered updates of our signature leveraging features. They now allow for much greater adjustments to be made in one transaction, even when the CDP/Vault in question is extremely close to the minimum 150% collateralization ratio. Additionally, they will also help reduce the number of transactions needed to be performed in certain cases.
An option to disable automated Boosting (leverage increase) has been added. This is a small change, but also one that has been requested more than a few times. We plan to introduce additional options into Automation in the following months.
The fee for each automated adjustment has been changed to 0.3% of the Boost or Repay amount. The Automation system has been heavily improved since the initial introduction and we believe it is the right moment to differentiate its fee from the fee for manual Boost or Repay adjustments (which remains 0.25%).
Being a small and completely self-funded team, we feel it's important to highlight that all revenue is used to maintain and further improve DeFi Saver and all associated services.
You can find our full Automation v2 introduction post here: Introducing Automation v2: Now 100% Black Thursday resistant
If you have any additional questions, please reach out to us either via the on-site chat or by joining the DeFi Saver Discord.