MakerDAO Users Can Now Rely on Stop Loss, Take Profit, and Savings Liquidation Protection Strategies Using DeFi Saver

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DeFi Saver introduced Automated Strategies, a major new update of its flagship Automation service. This update marks the beginning of a new era of DeFi automation, intending to provide a safer and more convenient environment for all decentralized finance users.

The first new automated strategy at users' disposal allows MakerDAO users to farm yield protocols such as Yearn, mStable, and Rari with effectively no liquidation risk. The new Savings Liquidation Protection strategy automatically pays back the owners' debt with stablecoin assets supplied in the aforementioned yield protocols. Historically, users had to sell part of their collateral for automated liquidation protection, which was bittersweet. The losses would still be drastically lower than liquidation, but any selling is usually not desirable.

To the joy of many MakerDAO users, the long-awaited and highly sought-after Stop Loss strategy is finally available! Released together with the Take Profit strategy, these essential market order types are now available to MakerDAO users through the DeFi Saver dashboard. Support for other integrated protocols is coming in the following period. 

Each automated strategy consists of triggers and actions from various integrated protocols executed once the trigger conditions are met. Stop Loss and Take Profit strategies will rely on a price trigger to execute necessary actions to close a CDP. Instead of relying on MakerDAO’s oracles, DeFi Saver decided to use Chainlink oracles to update the price trigger. Another critical aspect of the newly released strategies is that Closing the MakerDAO CDPs will close them to Maker’s Dai stablecoin. Closing the