MilestoneEthereum2020
MakerDAO Black Thursday
Oracle and gas issues let bidders win vault liquidations for 0 DAI, undercollateralizing the system.
Sources
Curated references with status labels so quality can improve transparently over time.
Key Facts
Peak metric$5M undercollateralized
OutcomeDebt auction and upgrades
ChainEthereum
Year2020
Typemilestone
Tags
defiliquidationsgovernance
View Chart
External price/performance context for the historical event.
Related events
Uniswap V2 Launch
Ethereum • 2020-05-18 • Uniswap V2 introduced direct ERC-20 pairs and oracles, accelerating AMM adoption.
YFI Fair Launch
Ethereum • 2020-07-17 • Yearn introduced a zero-premine, governance-first token that became a DeFi cultural pillar.
Ethereum Merge
Ethereum • 2022-09-15 • Ethereum transitioned from Proof of Work to Proof of Stake, reducing energy consumption and changing issuance.
Compound Launches Yield Farming
Ethereum • 2020-06-15 • COMP distribution sparked the first major yield farming wave, bootstrapping on-chain liquidity and composability playbooks.