Debt Bridge

Example of how to move Debt between protocols

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, Compound and Instapool connectors in the specified sequence.

Maker -> Compound

Benefits

• When Borrow rate on Maker > Compound. Pay less interest on your debt.

• Help make DAI stable.

Recipe

1. Instapool: borrow DAI

2. MakerDAO: payback DAI

3. MakerDAO: withdraw ETH

4. Compound: deposit ETH

5. Compound: borrow DAI

6. Instapool: return DAI

Requirements

• User must have a Maker Vault.

• Be sure to check the borrowing power on Compound to have enough margin from liquidation.

Copy

let borrowAmount = dsa.tokens.fromDecimal(200000, "dai"); // 200000 DAI
let dai_address = dsa.tokens.info.dai.address
let eth_address = dsa.tokens.info.eth.address
let vault_id = 0; // User's Vault ID

let spells = dsa.Spell();

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

spells.add({
  connector: "maker",
  method: "payback",
  args: [vault_id, -1, 0, "534"] // max payback and setting the payback amount with id 534
});

spells.add({
  connector: "maker",
  method: "withdraw",
  args: [vault_id, -1, 0, "987"] // max withdraw and setting the withdrawn amount with id 987
});

spells.add({
  connector: "compound",
  method: "deposit",
  args: [eth_address, 0, "987", 0] // get deposit amount with id 987
});

spells.add({
  connector: "compound",
  method: "borrow",
  args: [dai_address, 0, "534", 0] // get borrow amount with id 534
});

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

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

Compound -> Maker

Benefits

• When Borrow rate on Maker < Compound. Pay less interest on your debt.

• Help make DAI stable.

Recipe

1. Instapool: borrow DAI

2. Compound: payback DAI

3. Compound: withdraw ETH

4. MakerDAO: deposit ETH

5. MakerDAO: borrow DAI

6. Instapool: return DAI

Requirements

• User must have a Maker Vault. If not, create a new vault in the same transaction itself.

• Be sure to check the borrowing power on MakerDAO to have enough margin from liquidation.

let borrowAmount = dsa.tokens.fromDecimal(200000, "dai"); // 200000 DAI
let dai_address = dsa.tokens.info.dai.address;
let eth_address = dsa.tokens.info.eth.address;
let vault_id = 0; // User's Vault ID

let spells = dsa.Spell();

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

spells.add({
  connector: "compound",
  method: "payback",
  args: [dai_address, -1, 0, "692"] // max payback and setting the payback amount with id 692
});

spells.add({
  connector: "compound",
  method: "withdraw",
  args: [eth_address, -1, 0, "578"] // max withdraw and setting the withdrawn amount with id 578
});

spells.add({
  connector: "maker",
  method: "deposit",
  args: [vault_id, 0, "578", 0] // get deposit amount with id 578
});

spells.add({
  connector: "maker",
  method: "borrow",
  args: [vault_id, 0, "692", 0] // get borrow amount with id 534
});

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

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