So decided to experiment with Indigo, I created a cdp 2,980 Ada, Feb 1, 2023 @ .38 120% collateral.
948 IUSD recieved.
From my calculations ADA price would have had to fall to about 33c
From then to now 2/17 ADA has never dipped below 35c
What gives?
I think Indigo should provide more detailed record on its platform, from the white paper it just states if you cant find it, it means you are liquidated. That is scuffed at least provide time, date, price liquidation happened. The UI could use a lot of work. Is this suppose to be the future of finance?
Hi there, you unfortunately did not get liquidated to early. At 23rd of January a proposal was passed to raise the minimum collateral amount for iUSD to 120%. It has been put in action more or less about that time you put up your CDP, with a warning being up on the site several days ahead. So what you actually have done is putting up a CDP with th lowest amount ov collateral possible and with the price just dropping a tiny bit your asset would be liquidated. Please keep in mind all the assets here are overcollateralized, so it does not liquidate if it drops below 100% or smth, but if it drops below the minimum collateral amounts,which are 120%, 110% and 110% for iUSD, iETH and iBTC respectively at the moment. Be sure to always check if there are any governance proposals that update these thresholds.
1 Like
Ahh I see thanks. Hopefully UI can improve with record taking and calculating liquidation points for users to help with adoption and make users feel more comfortable deploying larger amounts of capital into the protocol.
2 Likes