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Lost what was about 14k 3 weeks ago. I figured I'd at least get about 8 or 9 eth back. Nope, zero.
People took a risk, lost due to an unknown risk and now want a bail out.
Lessons should be learnt but there is no reasonable argument for a bailout.
You can say all you want about this. Truth is, regardless if they make me whole, I will never user DAI again, will never again trust MakerDAO to open a CDP. And that is coming from someone that has been a frigging massive enthusiast until last Thursday.
Impressive way to lose all of the people's confidence. Even on ETH man, so much doubt has been cast thanks to this...
the community is waiting on MKR team's response,silence for now, hope they speak and reestablish faith in their system.
I'm not very familiar how this works but when someone loses their collateral ethereum they do still at least keep the Dai that they borrowed right?
So for example if someone had 10 etherium as collateral, how much Dai would they be left with at this point?
Maker DAO should take responsibility. Code is law is just a bullshit argument
35,000 ETH = $4,266,990
@ $121.91 per ETH (current avg price)
I can’t imagine how that MKR user feels right now. That’s a person that probably bought eth years ago and became majorly crypto rich. I hope they still have a substantial holding somewhere because that would be devastating if it was all their eth and crypto.
I personally believe that MakerDao should have a competition. Stable coin on ethereum doesn't have to be only DAI. More intelligent team then MakerDao should step in this to provide healthy competition.
One of the top addresses was funded with ETH from Kraken:
Hey guys, a lot of innocent CDP holders lost 100% of their collateral due to the malicious keeper who was able to monopolize the auction market and liquidate their debt for $0 rather than fair market pricing. Ask yourself, if another keeper could have bid $0.10 and acquired distressed debt, wouldn’t they have done so? Quite irrational behavior for ALL THE KEEPERS TO GO OFFLINE AND REFUSE TO BUY ETHEREUM FOR TEN CENTS!!! Because the system failed and as a result of the resulting $0 single bidder attack EVERYONE LOST EVERYTHING. Really hope maker steps up and commits to mint more mkr in the backstop auction to make victims whole AND FIX THEIR FUCKUP! Hope the only ones getting a bailout aren’t just vc’s! Don’t destroy my and so many people’s faith in defi and Ethereum!!!
Not all liquidations are alike and the percentage back of course should vary depending on final liquidation price. Zero percent back is tantamount to theft.
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