ok i am new on these and i am first testing how these works, i have created the cdp all good, but now want back to eth,when try pay 35 debt to withdral collateral i get these msg and the button in not avaiable to payback, what is the correct sequence to back eth ?
Posted Mar 6, 2020, 12:00 PM UTC · edited
Hey, u/BatmaxPT. I'm a member of the DeFi Saver team, glad you chose our app for your first steps into the world of defi :)
The reason you couldn't pay off your debt is because you only had 35 DAI received from the CDP - but the debt actually grew to 35.01 DAI (as visible in the screenshots in both DeFi Saver and Oasis apps) because of the 8% yearly interest.
Additionally, there is a minimum debt amount of 20 DAI in MakerDAO, making it impossible to have a debt of anything inbetween 0 and 20 DAI (though both 0 and 20 are OK) which is what prevented you from paying back 35 out of 35.01 DAI.
If you haven't completed this yet and still want to close the CDP, you can either obtain more DAI (there's an exchange widget available on the left side of the screen) or use our Repay feature which will use the ETH from the CDP to pay back the DAI debt.
Hope this clarifies this, but please don't hesitate to reach out with any more questions :)
hi, ty for support, so for the CDP -> Collateral / Debt when closed will never be in 0's, because i have now just the Debt->20 Dai and Collateral 0.20 ETH and when try to withdraw ETH is just me let take 0.07ETH ? the collateral can't be withdraw 100% ?
NOTE: I have did the same stpes in https://cdp.makerdao.com/ and i did pay 100% the debt, the only thin i did not withdraw 100%, have to let 0.005ETH
You're welcome, of course.
Debt can be paid back to 0. The only tricky thing is that there now exists a minimum debt in MakerDAO which is 20 DAI. This means a CDP's debt can be 0 or 20 or 20.21 or 33000 DAI. But the protocol does not allow it to be 0.1 or 0.01 or 19.99, you can either have 0 or 20+ DAI debt.
If you want to withdraw all of your collateral, you will need to pay back all of the debt down to 0. First complete this and then you can withdraw 100% of the collateral.
Use the Maker Oasis app to pay back in full and get your Eth back: https://oasis.app/borrow Someone else can correct me if i am wrong, but i think you can only pay back part of your debt via the Defi Saver dashboard, hence why you are seeing that error.
You can payback everything in DeFi Saver AFAIK but u/BatmaxPT needs 0.01 DAI more to fully repay it (probably this amount was accumulated through the stability fee).
u/BatmaxPT : Get something like 0.5 DAI (or any amount>= 0.01) from https://uniswap.exchange/swap and you'll be able to close your CDP
Yup, you can pay back all of your debt and you can do it in multiple ways using DeFi Saver, same as you would in Oasis. Not sure what u/chelski42 was referring to here :)
Do you have the 35 DAI in your wallet?. I can't tell by that dashboard. I use the Oasis site to manage my CDP. The lifetime profit is an interesting display I'm not sure how they are figuring that out.
You can also try it via https://defiexplore.com for your CDP :)
(Regarding OP's issue - his debt grew to 35.01, while he only has 35 DAI in the wallet, which is why he got slightly stuck.)
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You need to either pay back ALL of the DAI or payback some and leave at least $20 worth
in oasis i cannot pay the max debt also , as it is write in red letters:
" You can repay all your outstanding debt, or a maximum of 15.012208879816476781 Dai "
What happens when you pay the 15, then try paying the max?