DAI spiked to $1.3 on Coinbase. Compound uses the Open Oracles system which uses Coinbase as the reporter.
Oracle Updates are guarded against big deviations against a Uniswap TWAP as an anchor. There’s an Lower Bound of 80% and upperbound of 120%. This means the price of DAI was able to hit ~$1.25
https://etherscan.io/address/0x922018674c12a7f0d394ebeef9b58f186cde13c1#readContract
Lots of liquidations were caused for people borrowing DAI on Compound.
During this period, 85.2m DAI were repaid by liquidators, who seized collateral from addresses borrowing DAI. In the largest liquidation , an address “yield farming” had 46.2m DAI repaid, and 49.8m DAI seized.
In total, 124 addresses of 225,793 were impacted; there are no under-collateralized accounts in the protocol; and all markets are healthy. However, addresses that were liquidated feel that the risk parameters & price feed were too aggressive / onerous.