Remaining Vaults Liquidations 2.0 Parameters

Hey all,

After releasing LINK-A, YFI-A and ETH & WBTC proposed Liquidations 2.0 parameters we are proposing the next batch of Liq 2.0 parameters for the remaining smaller vault types. These are the last remaining non-UNI LP vault types to have Liq 2.0 implemented:

  • UNI-A
  • ZRX-A
  • AAVE-A
  • BAT-A
  • RENBTC-A
  • LRC-A
  • MANA-A
  • COMP-A
  • KNC-A
  • BAL-A

Again, the only parameter where we propose a different value from the start is ilk.hole, which is the maximum amount of pending liquidations for a particular vault type. Input for selecting this value is based on the latest on-chain slippage curves for assets backing Maker’s loan portfolio, which can be found here. As in all previous proposals, we aim to equal ilk.hole value with about 4-5% on-chain slippage figure obtained from on-chain slippage curves mentioned above.

Liquidations 2.0 parameters (same for all vault types):

cut = 0.99

step = 90 seconds

buf = 1.30

cusp = 0.4

tail = 140 minutes

chip = 0.1%

tip = 0

ilk.chop = 13%

tolerance = 0.5

Global Auction Parameter:

hole = 100m DAI

Ilk.hole parameters:

UNI-A ilk.hole = 5.0m DAI

ZRX-A ilk.hole = 1.0m DAI

AAVE-A ilk.hole = 5.0m DAI

BAT-A ilk.hole = 1.5m DAI

RENBTC-A ilk.hole = 3.0m DAI

LRC-A ilk.hole = 0.5m DAI

MANA-A ilk.hole = 1.0m DAI

COMP-A ilk.hole = 2.0m DAI

KNC-A ilk.hole = 0.5m DAI

BAL-A ilk.hole = 3.0m DAI

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