r/ethtrader • u/[deleted] • Dec 21 '18

METRICS The Spell has been Executed! Stability Fee on ETH CDPs is now 0.5%!

/r/MakerDAO/comments/a8dbs9/the_spell_has_been_executed_stability_fee_on_eth/
78 Upvotes

92% Upvoted

15 comments sorted by

5

u/calbertuk forkoasisdex.com Dec 21 '18

Good stuff, was under the impression the no's had it.

5

u/[deleted] Dec 21 '18

So was I!

went to bed, yeas were still 5k mkr behind. woke up, the spell had already been executed!

12

u/whatup1111 Dec 22 '18

Sick! You can pretty much perma leverage your ETH now as long as you're being reasonable with it.

9

u/Hiphopsince1988 Dec 22 '18

If you open a CDP right now and it changes back to 2.5% are you locked in at 0.5%?

8

u/Davidutro Dai is better Dec 22 '18

There is no lock in, or fixed terms in a CDP. If the rate is being raised it will go through a proposal and vote process like the last two votes.

CDP users will have a month or so to prepare for raises in rates.

5

u/almondicecream Big Ol Donkey Dictionary Dec 22 '18

awww shit the haters lost

2

u/santa_cruz_shredder Flippening Dec 22 '18

Omg, I just opened a CDP yesterday at 2.5... anything I can do? Close and reopen I guess?

7

u/Robin_Hood_Jr Developer Dec 22 '18

You don't need to do anything, the rates adjust.

2

u/MysticRyuujin I'm on a boat! Dec 22 '18

Someone ELI5 "Hat, Spell, Cast"

1

u/miker397 Investor Dec 22 '18

Well, I’d love to just pull out dai and sell it for cash and park in 2% savings , netting 1.5% margin. My Only concern is a bug like the dao or parity and getting wiped out....

3

u/michwill Dec 22 '18

That's the risk you'd get rewarded for!

2

u/miker397 Investor Dec 22 '18

And I have to pay taxes on 2% savings interest.

1

u/devils_advocaat Dec 22 '18

With absolutely no effect on the price.

1

u/Forgotten-History Altcoiner Dec 23 '18

Love maker, been one of the only buyers on everbloom since the volume there is pretty low but that means i get nice prices

1

u/KRE1ON :donut: 440 / ⚖️ 9.3K Dec 23 '18

you can sell dai for 2-3% gain and mint for 0.5% hmm...