Introducing Saviour: RAI Liquidation Insurance

UniSaviour

Saviour is an add-on insurance contract anyone can use to protect their RAI safe from getting liquidated in the case of undercollateralization.

The first Saviour contract uses Uniswap v2 RAI/ETH LP tokens to protect your safe.

Liquidators must try and save you first if you enable Saviour. They can only liquidate you if you don’t deposit enough LP tokens to bring you back above a 145% CRatio.

Note: There is a flat fee of $2000 paid to your rescuer in the event a Saviour is needed.

How to Setup Saviour

Navigate to your RAI Safe on:

https://app.reflexer.finance/

Connect Wallet

Manage Safe

Add a Saviour

Set target CRatio

Saviour will remove enough LP to pay debt needed to reach target

Add RAI/ETH Liquidity (if necessary)

Be mindful of the minimum amount needed

Enter amounts to LP (enough to cover the minimum)

Deposit LP tokens

Review Transaction

Approve LP Tokens

Confirm Transaction

Status: PROTECTED

Sleep like a rock.

🗿