I hadn't used MakerDAO up until recently (about 2 weeks ago) which was right after the Black Thursday events.
I opened a vault, collateralized ~19 ETH and decided to do a test run of how the system worked.
Personally, I see the risk there if the vault gets liquidated in another BT-like event. I wonder if they could add more solutions for vault owners to stay ahead of this risk (maybe something like this already exists in the form of private scripts, etc.) --- I would love to be able to have a set price drop in x time frame that refilled my vault to recollateralize in the event of a flash crash to avoid liquidation.
I'm not sure how the liquidations look, maybe you know more than I do and could educate me -- does your vault get immediately liquidated if it reaches the liquidation price or do you have time to refill your vault with more collateral before it's liquidated?
Posted via Steemleo
RE: DAI hasn't recovered its peg since Black Thursday