Dai 1.0

Introduction - Stability - Core - CLI - Query API

Bite

Liquidate a vunerable CDP (zeros art, decreases ink).

Unsafe CDPs need to be liquidated. When a cup is not safe, anyone can perform bite(cup), which takes on all CDP debt and confiscates sufficient collateral to cover this, plus a buffer.

This returns the CDP to a safe state (possibly with zero collateral).

There are other possible implementations of bite, e.g. only taking sufficient collateral to just transition the CDP to safe, but the described implementation is chosen for simplicity.

Bite

      
  $ dai --cup=<id> bite

    
      
  $ seth send "1383193339611678105810169541746055541819509028773" "bite(bytes32)" "<cup-id>"

    
      
  bite(self, cup_id: int) -> Transact: