Black Thursday Vault owners report Thread

Can you be more specific, does it mean that I will receive no compensation even though the vault was indeed liquidated at practically 0 DAI per ETH and the community poll decided to compensate this group of vault owners ?

Maybe I misunderstood the compensation process, if so please point me to the posts/threads where it is summarized.

@openforbusiness I see with with liquidation 4471 you got 12.7% collateral back. Technically I have you just outside the current BT liquidation class (I picked auctions 763-4324).

I will be providing another update this evening. We are discussing how to approach setting the class in terms of time limits as I know out to auction 4700ish Maker was still getting impaired auction performance but ultimately the time frame and conditions for whether a vault meets a compensation standard will be determined by them. a lot of auctions during your time frame (after 4324 and before say 4700) only netted 10-12% collateral return. Some of the larger auctions 500ETH netted barely 2-3% for the vault holder. There still seems to be some debate as to the reason. whether this an auction time thing or size. Your auction was rather small so it matched performance of other auctions of your size.

Sad welcome to both you @openforbusiness and @Damas as first time posters. Hopefully we will turn this rock soon here.

@Damas you are in the liquidation class as I have defined it by time and auction conditions formally. So if anyone receives compensation you will. How much that is a matter for governance.

Thanks for the quick feedback and your work on this, very odd that this matter is taking so long when there seems to be a wide community agreement on this.

How do you recommend I keep track of the progress regarding this governance process ? This thread or will there be some sort of announcement ?

I try to watch this thread but I have a lot going on. I guess you just got lucky.

Look for updates on status here.

I am hoping to get another update out shortly.

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Folks. I want to urge again everyone asking.

Use defiexplore in conjunction with the Liquidation and Compensation Report posted above to determine if ‘you might be in the class’.

When I tell people they are in the class it just means they were one of the vaults that liquidated during the BT time frame chosen (auctions 763-4325). Ultimately governance via on-chain poll will have to decide what qualifies a vault for possible compensation. They may change the time frame or conditions to qualify. The above was simply a report so governance could make these decisions and in the compensation report to attempt to quantify the possible cost involved for some basic scenarios.

Example:


with this auction
https://defiexplore.com/liquidation/ETH/1700 is in the BT class as defined in the above report because auction 1700 falls between 763-4325.

Hi Makerman,

My Vault was 5423 which can be found here: https://defiexplore.com/cdp/5423.

I was liquidated on BT as you can see that its final liquidation was #3787 https://defiexplore.com/liquidation/ETH/3787.

Could you please add me to the report?

Hello my collateral was liquidated in vaults 5173 & 5174 and received 0 ETH back.


May I please be added to the report. Tough time for me financially so any compensation would help.
Many thanks.

My vault got liquidated with 1090 ETH , all auctions returned 0 back

Hi all. My CDP was 2380.

Would someone kind checking my liquidation status. I am confused by the entries on my defi history.

It looks like your vault was liquidated on Mar-13-2020 01:08:08 AM, so you would be within time period to be considered for compensation.

Hi folks, My CDP was 4846.

Sorry I wasn’t able to find it in the liquidations list. It also doesn’t show a history on defiexplorer.

Much appreciated.

https://defiexplore.com/cdp/6268 the last 1.6 eth was me trying to add funds before the liquidation i was not paid back anything.

also my other vault.

Looks like your vaults were liquidated at Mar-13-2020 03:18:08 AM (6268) and Mar-13-2020 01:12:00 AM (6446), so these would both be within the time period being covered by the compensation plan.

The plan as currently written will consider compensation for all vaults between 3/12/2020 12:00 UTC and 3/13/2020 13:40 UTC.

Hm, your vault 4846 is also showing as “unavailable” on Oasis. Not sure why this would be, I’ll ask around and will post here if I learn anything.

Where did you set up the vault originally (Oasis, Instadapp, DefiSaver etc)? Not sure if this would make any difference but figure I’d ask.

Where can I find out about the compensation plans?
Thanks!

Compensation plan can be found here: Vault Compensation Plan Proposal

Note that it is just a proposal at this point, it has not been accepted by MKR voters yet.

Thanks @monet-supply. It was migrated from SCD to MCD using InstaDapp.

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Hey @monet-supply, any updates on your investigation?

@monet-supply - Please add vault 4844 (oasis).

… as opposed to 4846 (oasis). I requested the Instadapp folks to investigate, see the following investigation thread for details. Summary below:

The Instadapp migration process is a bit funky, where it created 4846 then merged it back into 4844. Likely a bug in oasis and defiexplorer UX that doesn’t handle showing this correctly, leading to the missing “merge” activity in both the merged and closed vaults. My liquidated vault is 4844 as a result.

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