creamY launch, compensation for excessive slippage, before UI slippage controls were added

Summary:
On September 24 the creamY platform launched, and a number of users within the first ~24 hours suffered large slippage on their deposits before the pools became balanced.
The dev team changed the UI to add slippage controls & warnings approximately 48 hours after launch, to prevent future users from suffering the same problem with excessive slippage.

As each case is different, we will submit a separate proposal for each case

Case 1 creamY deposit loss=$51,508.21 slippage=23.68%
Case 2 creamY deposit loss=$24,466.82 slippage=11.86%
Case 3 creamY deposit loss=$150,397.12 slippage=5.51%
Case 4 creamY deposit loss=$8,581.35 slippage=1.98%
Case 5 creamY deposit loss=$5,240.29 slippage=1.86%
Case 6 creamY deposit loss=$19,602.39 slippage=1.82%
Case 7 creamY deposit loss=$22,219.67 slippage=1.36%
Case 8 creamY deposit loss=$1,281.70 slippage=0.68%
Case 9 creamY deposit loss=$5,390.93 slippage=0.61%
Case 10 creamY deposit loss=$1,535.03 slippage=0.44%
Case 11 creamY withdraw loss=$54,502.32 slippage=13.04%

Action Item:

for each case:

FOR - Compensation should be paid from Cream treasury funds

AGAINST - Compensation should NOT be paid from treasury funds

Background:

The dev team determined that the platform was working correctly, but large slippage was possible during the launch phase while the pools were unbalanced, and adequate warnings and slippage controls should have been added to the user interface.

The UI was changed to add slippage controls & warnings approx 48 hours after launch.

A google spreadsheet was set up for approx 10 days to collect data from affected creamY users.

Every user who added themselves to the google form has a separate proposal, as every case is different, it is up to the community to decide which cases should be compensated.

Earlier proposals were submitted before the recent changes to DAO voting rules, but the vote was inconclusive (less than 15k votes).

We are resubmitting now that locked Cream is eligible to vote.
Snapshot date will be 16 November.

Motivation:
Fairness, help early adopters who supported creamY platform.
The original UI didn’t include slippage controls & warnings.
The creamY Medium articles did not mention the risk of high slippage before the pools became balanced
Positive PR opportunity, “Cream supports its community”
Give future users greater confidence in using the platform, when mistakes happen, Cream DAO is a mechanism to resolve problems.

Can you link transactions for each case so we can verify these happened and who to send compensation to.

Why do you think it’s CREAM’s responsibility to pay you for your own mistakes? CREAM didn’t mislead you, there wasn’t a bug, and you could have verified yourself.

tx type Deposit Token Deposit Amount Deposit USD value cyUSD received USD loss slippage % Deposit Transaction
deposit yUSD 187,508.98 $217,510.42 166,002.21 $51,508.21 23.68 https://etherscan.io/tx/0x66b3022f5e4b720c991e89786719b6a140ff138a9909673d9ed685001e83cead
deposit USDC 206,352.88 $206,352.88 181,886.06 $24,466.82 11.86 https://etherscan.io/tx/0xdfa2a96bd3e1e7ba1f14d19dd19b24a9cde45dc2605d002eabb9d95b5597ffb6
deposit USDT 2,730,000 $2,730,000.00 2,579,602.88 $150,397.12 5.51 https://etherscan.io/tx/0xff18b3b806832356986dcb1d0e24ea94403cfe387d2a0b48d44f46db51d98abc
deposit USDC 433,105.51 $433,105.51 424,524.16 $8,581.35 1.98 https://etherscan.io/tx/0x3baf22fd51c0f7cd61366ef9b959f6b60e2159d25788f9512befd2f3b6552986
deposit USDT 282,399.87 $282,399.87 277,159.58 $5,240.29 1.86 https://etherscan.io/tx/0xe74ebaff2b5684dd6ba67597dbe4925a9fd8a98ca21cc5cd571e84505c9da2ba
deposit USDC 1,076,425.36 $1,076,425.36 1,056,822.97 $19,602.39 1.82 https://etherscan.io/tx/0x24235397f3152f64cf930479944d403c94a3c1cff75318f8d8c35766b4daeb5a
deposit USDC 1,634,480.52 $1,634,480.52 1,612,260.85 $22,219.67 1.36 https://etherscan.io/tx/0x6f118339daf10f5d79a5806803986d7f60741089062c9dbc9c95afbb12fb5626
deposit crUSDC 9,311,667.59 187164.5186 185882.82 $1,281.70 0.68 https://etherscan.io/tx/0xc74be23c753993e99bae02b96157901b31fa579f38348b316dc9c27bc03b0d5c
deposit yUSD 762,634.87 $884,656.45 871,639.17 $13,017.28 1.47 https://etherscan.io/tx/0xd3dd2a7f0ad2c1f488f549b2cbb9be630e88a272e1668386115dea0c906a59ea
deposit USDT 352,709.72 $352,709.72 351,174.69 $1,535.03 0.44 https://etherscan.io/tx/0x6bba1c5a7a8b695b08f8d72d41dcd874ae430b8dc8a1752a3119d346911ad468
withdraw yUSD 421,172.62 $417,851.11 363,348.79 $54,502.32 13.04 https://etherscan.io/tx/0xff47e342927c28496d3825b57fb4d3f8ee0d86b97991d0c9f70d1908c1ef93df

Yes, there was user error, and the UI lacked adequate slippage control settings & warnings. The devs acknowledged the problem, that’s why they changed they UI to prevent further issues.

The proposals are live!
Case 1 - creamY compensation - loss=$51,508.21 slippage=23.68%
Case 2 - creamY compensation - loss=$24,466.82 slippage=11.86%
Case 3 - creamY compensation - loss=$150,397.12 slippage=5.51%
Case 4 - creamY compensation - loss=$8,581.35 slippage=1.98%
Case 5 - creamY compensation - loss=$5,240.29 slippage=1.86%
Case 6 - creamY compensation - loss=$19,602.39 slippage=1.82%
Case 7 - creamY compensation - loss=$22,219.67 slippage=1.36%
Case 8 - creamY compensation - loss=$1,281.70 slippage=0.68%
Case 9 - creamY compensation - loss=$5,390.93 slippage=0.61%
Case 10 - creamY compensation - loss=$1,535.03 slippage=0.44%
Case 11 - creamY compensation - loss=$54,502.32 slippage=13.04%