The recent jump in flip auctions

Ok so I’ll say it.

The market is ATM not performing very well. As i write the collateralization ratio sits at ~2.5x down about 5000 basis points from recent weeks. Surplus buffer sits at -4,168,440.38 DAI. Not trying to start a panic obviously, but it seems prudent to get this poll out to executive vote https://vote.makerdao.com/polling-proposal/qmekpiectttt57tkfa7ygevpk8sbudkum7upswrqh7rgtz.

Mirroring recent actions taken by the fed it seems that we might act in turn and drop the rates in order to spur any lending that we can ATM. This also should have the run-off effect of slowing down the bleeding in caused by the DSR. Is there anyway we could hurry an executive vote out?

Outside of the suggested action items would it be possible to get some sort of statement from the foundation regarding recent events?

2 Likes

In an attempt to just point out what positive that there are to be had. The DAI seems to be trading strongly vs the USD ATM. Currently sits at $1.06

Probably best to follow this discussion here

1 Like

Watching the bids and wins on https://daiauctions.com/ I do see bids of zero and wins saying “Paid 0 dai/eth”.

I’m new to how this works, so it may not be a problem. Just wanted to bring this your attention just in case.

Someone pointed this out on Reddit, so you may want to reply there also.

I should say, the DAI auctions process appears difficult to get and bids they seem disproportionately against low-captial persons like myself as well as people who hold DAI but not the knowledge required to code (regardless of simplicity). We could definitely prefer a smoother bidding experience. Apologies in advance if my knowledge is lacking and inference is not correct.