Debt Swap

Swap debt between DAI and USDC on Compound

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 Compound, OasisDEX and Instapool connectors in the specified sequence.

USDC Debt -> DAI Debt

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 for USDC

3. Compound: Payback USDC

4. Compound: Borrow DAI

5. Instapool: return DAI

Requirements

• User must have a some debt in USDC.

let borrowAmount = 20; // 20 DAI
let borrowAmtInWei = dsa.tokens.fromDecimal(borrowAmount, "dai"); // borrow flash loan and swap via OasisDEX

let slippage = 0.1; // 0.1% 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, "423"] // setting USDC amount with id 423
});

spells.add({
  connector: "compound",
  method: "payback",
  args: [usdc_address, 0, "423", 0] // get Payback amount with id 423
});

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

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

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

DAI Debt -> USDC Debt

Benefits

• When DAI < $1. Arbitrage benefit due to price difference of DAI & USDC.

• Help make DAI stable.

Recipe

1. Instapool: borrow USDC

2. OasisDEX: Swap USDC for DAI

3. Compound: Payback DAI

4. Compound: Borrow USDC

5. Instapool: return USDC

Requirements

• User must have a some debt in DAI.

let borrowAmount = 20; // 20 USDC
let borrowAmtInWei = dsa.tokens.fromDecimal(borrowAmount, "usdc"); // borrow flash loan and swap via OasisDEX

let slippage = 0.2; // 0.2% slippage.
let dai_address = dsa.tokens.info.dai.address
let usdc_address = dsa.tokens.info.usdc.address

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

let spells = dsa.Spell();

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

spells.add({
  connector: "oasis",
  method: "sell",
  args: [dai_address, usdc_address, borrowAmtInWei, buyAmount.unitAmt, 0, "924"] // setting DAI amount with id 924
});

spells.add({
  connector: "compound",
  method: "payback",
  args: [dai_address, 0, "924", 0] // get Payback amount with id 924
});

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

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

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