What's up with the Flap Auctions?

Why are there some Flap auctions that have not settled after 16 hours?

Auction ID: 1317 still has not settled.

Is it an issue with not enough keepers?

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Looks like several of the Auctions still need to be dealt. This can be done by anyone, but only the winner of the auction is incentivized to do so. Could be an issue with their keeper apparatus as they appear to be coming from one address.

https://auctions.makerdao.com/flap

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Thank you for the response :)!

Just to understand. Can an auction sit waiting to be dealt indefinitely? OR will it be cancelled at this point by any other means, ie tau, end, tick?
Or is there a “when” time in place?

My understanding on this topic is ‘YES’ a completed auction can sit undealt indefinitely. I think there should be a reasonable period (30 days) to deal an auction but if not dealt it should be re-auctioned to clear the system of debt and collateral.

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If they have enough DAI reserves, keepers can leave auctions undealt and wait for gas prices to go down.

Reauctions sound like a bad idea, the auctions are final, we’re not selling options.

Are undealt auctions really an issue? Not an expert on the mechanics, but the DAI is already out of the SB in an accounting sense. While the MKR hasn’t been ‘burned’ yet, it’s sitting in a contract.

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Would moving to liquidations 2.0 for flap auctions be more efficient from a gas perspective relative to the current implementation?

My understand is in liquidations 2.0 auctions they are settled as soon as the first acceptable ‘take’ is received. If this is the case it would eliminate outstanding auctions that havn’t been dealt and they would be more gas efficient which in theory should result in netting the protocol a better price.

It’s only in an accounting sense that it’s a problem as Jiecut points out.

As I understand it, the MKR in that contract can only be burned now, it can’t be taken back by the bidder. We also can’t take back the DAI into the SB again - the only place it can go to is the winning bidder’s address.

If we start dealing undealt auctions after 30 days, then keepers will use this “feature” to save themselves the gas costs.

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Why would saving the keeper’s gas costs be a bad thing? Shouldn’t we want the system to run as gas efficiently as possible?

Now there sit around 70 MKR from today, ready to be burned and kind of stuck and not burning and not moving anywhere. :pensive:

Again around 70 MKR ready to be burned stay for 3 days without anyone calling auction deal.

May be system redesign should be considered to call Deal whenever an auction is completed for more than 1 day ago. Or have a bot doing that. :thinking:

@dumitru There is nothing wrong with auctions being undealt for a bit. The only cost is the keeper’s opportunity cost for 210k DAI.

Fundamentally, there’s not much difference between “ready to burn” and actually being burnt.

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