Pro tip: keep all your assets on Ethereum. The gas fees will stop anybody from stealing them from you 👌

Husband, dad, dev • @dune.eth wizard • Ultimate Ⓜ️oxie Dashboard https://tinyurl.com/moxiedash •  I'm just zis guy, you know?

gas fees nearly stopped me from saving my CDP in March '20. stops the good guys too sometimes.

I don’t know what a cdp is but that sounds bad.

Author. Artist. Quinquagenarian. 

https://linktr.ee/nfterrybain

collateralized debt position.

pledging money and borrowing against it. if the value of your pledged asset falls (relative to how much you've borrowed), you risk liquidation.

Right.

Story is simple: ETH (and everything else) crashed hard. The resulting panic caused gas prices to /explode/ and so people like me couldn't get transactions through to save our vaults. As the price sank, we could do little but watch and wait.

Oh. Oh shit. My anxiety just spiked just knowing that almost happened. 

Good lord.