First install dapp tools:
$ curl https://dapp.tools/install | sh
Then install the
$ dapp pkg install mcd
MCD - Multi-collateral DaiUsage: mcd [<options>] <command> [<args>]or: mcd help [<command>]Commands:bite Trigger liquidation of an unsafe Urnbites Recent bitescdp CDP managermentdai Dai managementdebt Total dai issuancedrip Trigger stability fee accumulationflap Trigger a flap auctionflips View flips and kick-off auctionsflog Release queued bad-debt for auctionflop Trigger a flop auctionfrob Urn managementfrobs Recent frobsgem Collateral managementhelp Print help about mcd or one of its subcommandsilk Ilk (collateral type) parametersline Total debt ceilinglive Liveness flagpoke Update the spot price for a given Ilkunwrap Unwrap WETH to ETHurn CDP statevice Total bad debtvow Liquidator balanceswrap Wrap ETH to WETH
Mcd is built on Seth and uses the same network configuration options, which just like Seth, can be defined in the
~/sethrc initialisation file.
Similar to Seth,
mcd also supports transaction signing with Ledger hardware wallets and can run against both local and remote nodes.
mcd will always be used against a known deployment of the system, defaults can be loaded wherever possible. In most cases the only required configuration parameter is the
-C, --chain=<chain> (
MCD_CHAIN) option and
-F, --from=<address> (
ETH_FROM) sender account when not using a testnet.
#!/usr/bin/env bashexport ETH_FROM=0x4Ffa8667Fe2db498DCb95A322b448eA688Ce430cexport MCD_CHAIN=kovan
Run against the latest Kovan deployment by setting the
-C, --chain option to
kovan. Specify a sender account when sending transactions using the
-F, --from option, or via the
ETH_FROM env variable.
$ export ETH_FROM=0x4Ffa8667Fe2db498DCb95A322b448eA688Ce430c$ mcd --chain=kovan dai join 100
Run agaist remote testchain deployments by setting the
-C, --chain option to the remote testchain Id. Mcd will auto-configure account settings via the testchain api so that no further configuration is required. To view a list of available testchains run:
$ mcd testnet chains`
Then set the chain option, or the chain env variable to the appropriate testchain Id.
$ export MCD_CHAIN=12899149080555595289$ mcd dai join 100
Run against a locally running instance of Dapp testnet where the system has been deployed by setting the
C, --chain option to
testnet. Mcd will auto-configure account testings for
dapp testnet so that no further configuration is required.
By default, Mcd assumes that the output of the testchain deployment script is available at
~/.dapp/testnet/8545/config/addresses.json. Configuration addresses can be loaded from a different location by setting the
$ export MCD_CONFIG=~/testchain-deployment-scripts/out/addresses.json$ mcd -C testnet dai join 100
Ilks are collateral types with corresponding risk parameters which have been approved by system governance. Use the
ilks command to view the list off available Ilks.
$ mcd ilksILK GEM DESCETH-A WETH EthereumETH-B WETH EthereumREP-A REP Augur
Each Ilk has its own set of configuration parameters which can be viewed via the
ilk command. The
I, --ilk=<id> option is used to scope commands to a particular Ilk:
$ mcd --ilk=ETH-A ilkArt 40.000000000000000000 Total debt (DAI)rate 1.000080370887129123082627939 WETH DAI exchange ratespot 99.333333333333333333333333333 WETH price with safety mat (USD)line 1000.0000000000000000000000000000000000000 Debt ceiling (DAI)dust 0.0000000000000000000000000000000000000000 Debt floor (DAI)flip 0x9d905effff127a01da3b38124f8da88e766eb8dd Flip auction contractchop 1.000000000000000000000000000 Liquidation penaltylump 10000.000000000000000000 Flip auction lot sizetax 1.000000000782997609082909351 Stability feerho 1552802862 Last drip timestamppip 0x98312e16f5b2c0def872a1f7484a8456e5a67a3b Price feed contractmat 1.500000000000000000000000000 Liquidation ratio
Individial ilk values can be retrieved by adding the parameter name as an argument to the
$ mcd --ilk=ETH-A ilk spot99.333333333333333333333333333
Gems are collateral tokens. Collateral is added and removed from the via adapters, which abstract away the differences between various token behaviours. Use
gem [<subcommand>] to manage collateral balances for any given Ilk.
gem --ilk=<id> symbol Gem symbol e.g. WETHgem --ilk=<id> balance Print balances for a given urn (default: ETH_FROM)gem --ilk=<id> join <wad> Add collateral to a given Urn (default: ETH_FROM)gem --ilk=<id> exit <wad> [<guy>] Remove collateral from an Urn (default: ETH_FROM)
join command can add collateral from the sender account to any specified Urn. The
exit command can remove collateral from a specified Urn, provided that the sender controls the private key associated with that Urn.
ETH_FROM is used to determine which Urn should be credited with collateral. Use
U, --urn=<address> to optionally credit an Urn other than the default.
$ mcd --ilk=ETH-A --urn=0x123456789abcdef0123456789abcdef012345678 join 100
exit command can remove collateral from a specified Urn, provided that the sender controls the private key associated with that Urn. The
exit command can also withdraw collateral to an account other than
ETH_FROM buy passing the destination address as an additional argument:
$ mcd --ilk=ETH-A exit 100 0xDecaf00000000000000000000000000000000000
Urns represent Cdp state for any given Urn address.
urn command to view Urn state for any given Ilk:
ilk ETH-A Collateral typeurn 0xC93C178EC17B06bddBa0CC798546161aF9D25e8A Urn handlerink 45.000000000000000000 Locked collateral (WETH)art 120.000000000000000000 Issued debt (Dai)tab 120.000244107582797248312544980 Outstanding debt (Dai)rap 0.000244107582797248312544980 Accumulated stability fee (Dai)--> 37.24 Collateralization ratiospot 99.333333333333333333333333333 WETH price with safety mat (USD)rate 1.000002034229856643749638820 WETH DAI exchange rate
ETH_FROM is used to determine which Urn to query. Use the
U, --urn=<address> option to query Urns at other indexes.
Urn state (
urn.art) is managed via the
frob <dink> <dart> command, where
dart are delta amounts by which
ink (Locked collateral) and
art (Outstanding debt) should be changed. For example, to lock 100 WETH and draw 400 Dai on the ETH-A Ilk:
$ mcd --ilk=ETH-A frob 100 400
To reduce outstanding debt by 200 Dai whilst keeping the amount of locked collateral constant:
$ mcd --ilk=ETH-A frob -- 0 -200
Similar to Gem adapters, a Dai adapter is used to exchange Vat Dai for ERC20 token Dai which can then be used outside the system. Use
dai [<subcommand>] to manage dai balances.
dai balance Print balances for a given urn (default: ETH_FROM)dai join <wad> Exchange DSToken Dai for Vat Daidai exit <wad> Exchange Vat Dai for DSToken Dai
Once Dai has been drawn on an Urn, it can be withdrawn for use outside the system using
dai exit. Dai can be returned to repay Urn debt via
dai balance command displays the internal system (vat) balance and the external (ext) token balance:
$ mcd dai balancevat 1030.003120998308631176024235912000000000000000000 Vat balanceext 0.000000000000000000 ERC20 balance
Individial balance values can be retrieved by adding
ext as an argument to the
$ mcd dai balance vat1030.003120998308631176024235912000000000000000000
cdp command provides compatability with CDPs managed via the CDP Portal and uses the same proxy contract and Cdp Manager font-end. This allows CDPs to be managed via a unique integer identifier rather than the
I, --ilk and
U, --urn options.
Usage: mcd cdp [<id>] [<command>]Commands: ls [<owner>] List Cdpscount [<owner>] Cdp countopen Open a new Cdp<id> urn Cdp state<id> lock <wad> Join & lock collateral<id> free <wad> Free & exit collateral<id> draw <wad> Draw & exit dai<id> wipe <wad> Join & wipe dai
Note: examples assume that
ETH_FROM is set to an address controlled by the user, and that the
MCD_CHAIN env variable has been set to a vaild chain identifier.
Note: The system doesn't handle ETH directly but instead uses WETH to represent ETH collateral. For convenience, the
unwrap commands are provided for exchanging ETH to WETH and visa versa.
# i) Wrap$ mcd wrap 100eth 900.000000000000000000weth 100.000000000000000000# ii) Gem join$ mcd --ilk=ETH-A gem join 100$ Grant approval to move WETH to the Vat? [Y/n]: Yvat 100.000000000000000000 Free collateral (WETH)ink 0.000000000000000000 Locked collateral (WETH)ext 0.000000000000000000 External account balance (WETH)ext 900.000000000000000000 External account balance (ETH)# iii) Lock & Draw$ mcd --ilk=ETH-A frob 100 500ilk ETH-A Collateral typeurn 0xC93C178EC17B06bddBa0CC798546161aF9D25e8A Urn handlerink 100.000000000000000000 Locked collateral (WETH)art 500.000000000000000000 Issued debt (Dai)tab 500.000244107582797248312544980 Outstanding debt (Dai)rap 0.000244107582797248312544980 Accumulated stability fee (Dai)--> 19.86 Collateralization ratio# iv) Withdraw Dai$ mcd dai exit 500vat 0.000060682318362511884962000000000000000000000 Vat balanceext 500.000000000000000000 ERC20 balance
# i) Open$ mcd --ilk=REP-A cdp openmcd-cdp-open: Waiting for transaction receipt...0x800e5578d3ac4b77b7ada1aba48cf80d0d238d4392d2676d79159eac2c2cdd73Opened: cdp 19# ii) Lock$ mcd --ilk=REP-A cdp 19 lock 100seth-send: Published transaction with 260 bytes of calldata.seth-send: 0x4d30cb4863ca997d24ff2346c9a92e86648369ce7b4a86ed004c73b8d4ef299aseth-send: Waiting for transaction receipt...seth-send: Transaction included in block 333.ilk REP-A Collateral typeurn 0x4518c4709a50C915b7996A0e6Dfb38c67248BBcF Urn handlerink 100.000000000000000000 Locked collateral (REP)art 0.000000000000000000 Issued debt (Dai)tab 0 Outstanding debt (Dai)rap 0 Accumulated stability fee (Dai)--> 0 Collateralization ratio# iii) Draw$ mcd --ilk=REP-A cdp 19 draw 500seth-send: Published transaction with 260 bytes of calldata.seth-send: 0xd5fb7ddf94bb910fbba2af118ecde88a03a13129b2e1979238236afe672781c3seth-send: Waiting for transaction receipt...seth-send: Transaction included in block 335.ilk REP-A Collateral typeurn 0x4518c4709a50C915b7996A0e6Dfb38c67248BBcF Urn handlerink 100.000000000000000000 Locked collateral (REP)art 49.999505439113270178 Issued debt (Dai)tab 50.000000000000000000000000000 Outstanding debt (Dai)rap 0.000494560886729822000020743 Accumulated stability fee (Dai)--> 16.66 Collateralization ratio