CDPAlerter Bot

Prevent your Vault from liquidation!

The problem CDPAlerter Bot solves

Because of the recent dip in the price of Ethereum, a large number of borrowers using DeFi platform MakerDAO's Vault faced the shock of their assets being liquidated because of them being unaware of it.

Currently, the user has to manage his/her CDP ratio by themselves manually, so as to prevent getting liquidated. But it's not possible for them to be aware of it all the time.

In order to fix this issue, I developed this Bot.

It keeps track of your Vault and verifies whether the current CDP is below the threshold specified by the user. Users can set custom values other than 150, for example, 220 so as to get updated on their risk profile well in advance of getting liquidated.

Challenges I ran into

Integrating blockchain data to telegram bot