Firstly - thank you for acknowleding my post.
Here is the link to my CDP Vault 2288:
https://defiexplore.com/cdp/2288
After seeing the 0 bid liquidations I realised I had to exit my CDP as the system was under failure.
The long story short is this. The events of the 0 bid liquidations caused me to have to ACT fast in order to avoid being liquidated to 0. I was even told in MakerDAO chat on the day as it was happening. "Do not get liquidated."
So I had no other option.
I used DefiSaver. The first transaction can be seen below reducing debt down 375.06k to 270k
https://defiexplore.com/tx/0xaa0df92048763c41576497a39e246929d6749732c2133e7507322b3dc2c5180f https://etherscan.io/tx/0xaa0df92048763c41576497a39e246929d6749732c2133e7507322b3dc2c5180f
This was done by selling ETH for DAI and paying it back as seen above.
I then paid back from 270k DAI to 250.13k DAI https://defiexplore.com/tx/0xdc82aae27d633aeb46931b4c637f730b54e24752c6ebd5be2475c046bb99fa0f https://etherscan.io/tx/0xdc82aae27d633aeb46931b4c637f730b54e24752c6ebd5be2475c046bb99fa0f
250.13k DAI to 246.09k DAI
https://defiexplore.com/tx/0x3ae72b43c6d2608bd2d709435bc0df13eef46c57fbdc5cdf8ee7a4b2699e3ba4 https://etherscan.io/tx/0x3ae72b43c6d2608bd2d709435bc0df13eef46c57fbdc5cdf8ee7a4b2699e3ba4
246.09k DAI to 213.06k DAI https://defiexplore.com/tx/0x0760c5f323335ec9a55322e874bed1af2accb3e91bede7c3f8d22c6c9911746c https://etherscan.io/tx/0x0760c5f323335ec9a55322e874bed1af2accb3e91bede7c3f8d22c6c9911746c
213.06k to 46,332.42 DAI https://defiexplore.com/tx/0x02a5d643c64ae3dc5709fa6ba8ab4eb8959bc7c4ee300304adfc00889f11790d https://etherscan.io/tx/0x02a5d643c64ae3dc5709fa6ba8ab4eb8959bc7c4ee300304adfc00889f11790d
46,333.01 DAI to 0 DAI https://defiexplore.com/tx/0x9dc016590b7b2a14633efe541513603cd767e12ff50bf28915093ab6f285e29f https://etherscan.io/tx/0x9dc016590b7b2a14633efe541513603cd767e12ff50bf28915093ab6f285e29f
:: ETH Left After Closing CDP ::
105+107.1403249358811705+2+4+100+5.41348945507988678+267.25276281710153534+23.00598 = 613.812557208 ETH
https://etherscan.io/address/0x261b003777c2797aca986e9b2c3485c5511863cd#internaltx
https://etherscan.io/tx/0xcf1533c9756219b9b5daead2464f22145ca5786f83283868872675c9cb8d3e37 https://etherscan.io/tx/0xb904dfecc348373b520a01b91b41f23f981644a1e5dded1cfd47263a1af9f723 https://etherscan.io/tx/0x31325e3c7115b62c347211e374587609a356f92288eec756c1b63ad5e2c7a004 https://etherscan.io/tx/0xd0a85a34d26b04d743460050b74d7154dee33082143ac4a3833b47cc02616666 https://etherscan.io/tx/0x779b8eb2f1343b894ac931d45e5db87d4f7cfc2e8acfe93c68634e6e7ca32d36 https://etherscan.io/tx/0x8ee44a7996e544445dc035aaffada80b10a18d65beab8300a71fc451d7627d27 https://etherscan.io/tx/0xef687ae692665c49c95bbdb387521a4ecc36fd485507dafcee2ba78e5e52b2d9 https://etherscan.io/tx/0xeeff2f50d7d55ccb64d70950c5aab45d5d95e1e56d7147660a753971956be270
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The fact is I would have been fine to be liquidated and leave it as is if the system was working correctly. This is something I planned for and accepted. However the system wasn't working correctly and I had no other option but to close however fast I could to avoid being liquidated to 0. My position was:
Had I been liquidated as the system should have worked it would be something like this.
And then - 13% of this
Would leave me with.
Because of this I've been short-handed by quite a large amount of ETH - and the only reason for this is because had I not acted at all I would have been left with 0.
I just wish to point out that if compensations are on the table that those in my unfortunate situation should be compensated to an equal degree because I had placed faith in the liquidation system but was let down and lost out big time as a result.
I have always been a user and supporter of MakerDAO from the beginning. Because of the 0 bid liquidations happening I had no other choice but to accept the price quoted via DeFi Saver in order to avoid liquidation. Because of the flaw in MakerDao I ended up being forced to sell Eth to payback dai and close my CDP at such a loss I was left with over 750 ETH less than I should have been.
Had I been liquidated I would have lost everything and had I been liquidated correctly I would have more ETH left than I do now.
But if compensation is on the table I feel like those like me should also be compensated the difference so everyone effected by what happened is compensated fairly and equally.
I hope this gets heard because the entire history of these events can be seen on my vault number 2288 and by that vault number owner address
Needless to say this caused a much bigger loss than necessary and I would have been much better being leverage long on any major centralized exchange. I don’t see how we as CDP owners can feel confident enough in this system to create dai again.
I believe there needs to be a show of good faith in doing right by all vaults both liquidated and force closed be compensated according to how things should have been under the correct liquidation conditions so that confidence in opening CDPS can be restored.
I'm confused. Your debt was 375k * 1.13 = 423k. If you could sell ETH at 112.4 then it would cost 3770 ETH leaving you with 1234 ETH out of 5005 ETH. However, is it plausible that the ETH could have been sold at 112? I mean how does DefiSaver sell ETH? Why did DefiSaver obtain such low ETH prices when selling? Even if Maker auctions were working correctly, would the Maker auctions have obtained better ETH prices?