G'day, I see lots of discussion about the good/bad of having USDC collateral, but not many reasons to have a USDC vault.
Last night I published an update to [Collateral Swap](https://collateralswap.com) which may be helpful in these uncertain times: [twitter thread](https://twitter.com/daveytea/status/1240366495747710976).
USDC vault use case:
1. Price of ETH or BAT are tanking (like last week)
2. You have a certain DAI debt, *but don't have any DAI* on hand to pay it back
3. You use Collateral Swap to 'swap' your vault to a USDC vault, 'closing' the ETH vault in 1 transaction ([tx](https://etherscan.io/tx/0xaf4ca18a0d3b94d948a9eeb47ba57c84c212aaeb7284b38ede6a0f6f549c3827))
4. When ETH or BAT price stabilises or increase, you swap back into an ETH / BAT vault
You can also release your collateral (into any asset):
1. You no longer want an open vault (maybe the prices are tanking or there is some systemic risk you see with MKR)
2. You use Coll Swap to 'release' your collateral, into anther asset such as synthetix USD ([tx](https://etherscan.io/tx/0xbdd48cb9aa55a39ad1e3aa56d58813dea93e6cf3f72a96d937941baf66e1b220))
Would love to hear thoughts and feedback!