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Wednesday

20 January 2021

Compound liquidator makes $4M as oracles post inflated Dai price

Compound liquidator makes $4M as oracles post inflated Dai price


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Most notably, DAI traded at this inflated valuation only on Coinbase and Uniswap, while other exchanges including Kraken and Bitfinex seem to have maintained a relatively stable price.

Coinbase and Uniswap are the two exchanges used by Compound’s Open Price Feed oracle.

Compound’s liquidation this morning amounted to $89 million, of which about $52 million came from DAI, according to data from DuneAnalytics.

While there is no evidence to suggest active manipulation, the fact that DAI price jumped specifically on the exchanges used by Compound’s oracles could draw suspicion

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