The Yield Farmer toolbox, #2: Monitor your Account Liquidity on Compound
As part of our series on Recipes — a , way to create and your favorite triggers — yesterday we showed you a trick to help yield farmers not to get liquidated and maximize their yield on Aave.
Today John the Farmer is back with another goodie: a recipe to monitor your Account Liquidity on Compound in a breeze.
Track your account liquidity on Compound
Keeping an eye on account liquidity is crucial for the skilled yield farmer. To start reaping the benefits, head over to https://9000.hal.xyz/recipes/compound-track-account-liquidity
Insert your address, and set the liquidity threshold in ETH. Keep in mind that it depends on the debt you have and the collateral you put. As a rule of thumb, you should aim to keep at least 30% of your total collateral (scaled by the collateral factor). That said, every farmer knows his farm best, so it really is up to your preferences 👍
Now you can jump straight to connecting your action. Since our last example John the Farmer caught up with the kool kids, so now he wants to use Telegram instead of old emails. But he could have also chosen Discord, Twitter, Slack or a custom webhook 😉
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!
We’re on a roll integrating some of the most popular DeFI platforms: we already have recipes for PoolTogether and Aave. 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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