Recipe #6: Track your C-Ratio on Synthetix

Last week we unveiled HAL v1, which makes it easier and more fun to create automation thanks to Recipes way to create and  your favorite triggers.
Today’s recipe is for Synthetix, and it allows you to track your C-Ratio so you can maximize your debt while staying away from liquidations.

Tracking your C-Ratio

Insert your address and the threshold.  There are different strategies that can be adopted, and you can even create different triggers for each strategy. For example, if you want to play it safe and simply avoid liquidations, you would put something like “less than 400”. However, if you are more spartan ⚔ 😎 ️ and want to maximize your debt you can track when you are actually too collateralized 😉
Now you only need to connect your action. For example, to receive an email simply click on the “Send an Email” button:
The pre-filled message already has everything you need in it. If you want to tweak it using our template system, you’ll find the documentation on our Gitbook.
Click the “create” button and you’re set!
Email was just an example — you can connect as many actions you want to your new trigger. We support webhooks, Email, TwitterTelegramDiscord, or Slack — and soon, on-chain actions as well!

What’s next

We’re on a roll integrating some of the most popular DeFi platforms: we already have recipes for PoolTogetherAaveCompoundLoopring, and thanks to Chainlink we even track gas prices.
Watch this space for new recipes coming soon and tell us what else you want to see on HAL next!

Where to go from here

We’re going to release several new recipes over the next days, but we’d also love to hear from you which recipe you’d like to see next by filling the Typeform here.
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