KeyBrute

HUMANS NEED 2.7 KIDS PER WOMAN TO SURVIVE... WE'RE NOT EVEN CLOSE Scientists now say 2.1 kids per woman won’t cut it - 2.7 is the real number needed to avoid long-term extinction. Right now, the U.S. is at 1.66, and most rich countries are even lower, including Italy at 1.29 and Japan at 1.30. The new math factors in randomness - like who never has kids or how many girls are born. Elon’s been warning about this for years, but most Americans still aren’t losing sleep over it. If things continue as they are, humans have their days numbered. Source: Fortune

Maybe a picture will spell it out better. I decided to fork the unified liquidations UI to pulse chain. It's not super useful, but is nice to be able to see things happening near real time. Replace ETH with PLS in your head. 1. When a vault gets below the safe collateralization level, you can liquidate it and start an auction. You get a pDAI reward when you do this. 2. When an auction is started, it starts at the OSM (oracle) price + a governance defined buffer. Here you can clearly see the oracles think PLS is worth a lot more than it is. 3. Because the OSM is broken, the prices make no sense. You would lose money bidding on these. 4. But, what if it was your debt? You put in the PLS, borrow the pDAI, then you pull a bit of the collateral (or dump a little illiquid amount on broken forked DEX's with OSM's) and liquidate yourself. Which you get rewarded for, then you can wait for the price on the auction to decrease enough that you make a profit. Because the OSM is broken, it doesn't make financial sense for anyone else to compete with you and buy your debt. It only makes sense if you own the debt yourself. 5. if the price doesn't make sense, just let it expire and call "redo" to restart the auction. You get rewarded for this as well. And you can let your auction go another round until prices line up with what you want. 6. Put all of this into a smart contract that ends by re-collateralizing your vault in the same TX so you don't get liquidated by someone else, and also the debt ceiling is hit so no one else can make a new CDP. Only you get to play the game. 6a. At least until pDAI gets so cheap from this process that someone else justifies liquidating some of these. so they can make new CDP's for themselves or something. Got a long way to go for that. This is directly related to the OSM's being broken. Between the reward for starting / restarting auctions and being able to self liquidate at a lower entry price, but still maintain a state that no one in their right mind will liquidate you, you win.

The Joy has been falling quickly 414m left