[Closed] Add Liquidator Proposal to liquidate COMP rewards

shapeshed · 1 November 2020 04:14

shapeshed/MIPs/blob/gh-pages/MIPS/mip-x.md

---
mip: <to be assigned>
title: Add a liquidator to sell reward tokens
status: WIP
author: George Ornbo <george@mstable.org>
discussions-to: https://forum.mstable.org/t/add-liquidator-proposal-to-liquidate-comp-rewards/81
created: 2020-09-16 
---

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## Simple Summary
<!--"If you can't explain it simply, you don't understand it well enough." Simply describe the outcome the proposed changes intends to achieve. This should be non-technical and accessible to a casual community member.-->
This MIP proposes a liquidation mechanism for assets owned by the protocol.
Through the liquidator mechanism tokens may be liquidated and the value of
these tokens may be realised by the protocol. 

## Abstract
<!--A short (~200 word) description of the proposed change, the abstract should clearly describe the proposed change. This is what *will* be done if the MIP is implemented, not *why* it should be done or *how* it will be done. If the MIP proposes deploying a new contract, write, "we propose to deploy a new contract that will do x".-->
Create a `Liquidator` contract that may be called from other mStable protocol

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savannah · 18 September 2020 00:45

This is a great idea!

james.simpson · 18 September 2020 15:21

Love this idea! Massive opportunity to convert any earnings mStable’s collateral makes and push that to a APY, yearn style.

Kippers · 18 September 2020 23:26

Let’s liquidate those COMP

dereksilva · 20 October 2020 19:02

The Liquidator has been deployed and the upgrade for 3 affected contracts is now pending in Governance by the core team.

Proposed upgrades:

Addition of a Liquidator module to sell $COMP (or $LEND) for mUSD (first Uniswap, then Curve)
Upgrading of CompoundIntegration to allow liquidation of COMP
Upgrading of SavingsManager to allow mUSD proceeds to be streamed to SAVE

Proposed upgrades have 1 week until they come into effect.

Smart Contracts:

Liquidator: https://etherscan.io/address/0xb7c77da6e0a8b4f63384fce953327af59c0d5b9d https://etherscan.io/address/0xe595D67181D701A5356e010D9a58EB9A341f1DbD
CompIntegration v1.2: https://etherscan.io/address/0xb7f724a2316d2926e1a868957273314cabaa1970
SavingsManager 1.2: https://etherscan.io/address/0x7594ae023979e30a44a2ebff64b7c82de3e46136

dereksilva · 1 November 2020 04:17

The Liquidator was approved:

And deployed earlier this week:

dereksilva · 1 November 2020 04:17