Short Dai

Earn instant return by arbitraging DAI price

Step 1

Installation or just use your browser console.

Step 2

Setup Account

Step 3

Trigger the following uniquely designed spells to fulfill this use case. Check this section for generic details around casting spells.

The DSA will cast the spells across the MakerDAO, OasisDEX and Instapool connectors in the following sequence.

Benefits
  • When DAI > $1. Arbitrage benefit due to price difference of DAI & USDC.
  • Help make DAI stable.
Recipe
  1. Instapool: borrow DAI
  2. OasisDEX: swap DAI with USDC
  3. MakerDAO: open USDC vault
  4. MakerDAO: deposit USDC in vault
  5. MakerDAO: borrow DAI from vault
  6. Instapool: payback DAI
Requirements
  • User should have base amount of USDC to perform the leverage. Liquidation on Compound is 83.33% which means for 1 DAI borrowed, user needs to have the balance of 0.25 USDC for collateral to perform this spell.
  • Maker vault minimum debt requirement is 20 DAI.
let borrowAmount = 20; // 20 DAI
let borrowAmtInWei = dsa.tokens.fromDecimal(borrowAmount, "dai"); // borrow flash loan and swap via Oasis

let slippage = 2; // 2% slippage.
let dai_address = dsa.tokens.info.dai.address
let usdc_address = dsa.tokens.info.usdc.address

let buyAmount = await dsa.oasis.getBuyAmount("USDC", "DAI", borrowAmount, slippage);

let spells = dsa.Spell();

spells.add({
  connector: "instapool",
  method: "flashBorrow",
  args: [dai_address, borrowAmtInWei, 0, 0]
});

spells.add({
  connector: "oasis",
  method: "sell",
  args: [usdc_address, dai_address, borrowAmtInWei, buyAmount.unitAmt, 0, 0]
});

spells.add({
  connector: "maker",
  method: "open",
  args: ["USDC-A"]
});

spells.add({
  connector: "maker",
  method: "deposit",
  args: [0, -1, 0, 0] // deposit all USDC
});

spells.add({
  connector: "maker",
  method: "borrow",
  args: [0, borrowAmtInWei, 0, 0]
});

spells.add({
  connector: "instapool",
  method: "flashPayback",
  args: [dai_address, 0, 0]
});

dsa.cast(spells).then(console.log)

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