/biz/ - Business & Finance

I’ll be buying your liquidations soon enough.

>>18762472
what coin's auctions are you bidding on?

>>18762472
You can tell that a lot of bizlets use it

https://etherscan.io/token/tokenholderchart/0xA64BD6C70Cb9051F6A9ba1F163Fdc07E0DfB5F84

>>18762673
>https://etherscan.io/token/tokenholderchart/0xA64BD6C70Cb9051F6A9ba1F163Fdc07E0DfB5F84

holy shit 2 addresses make up 68% lol

2 whales really like aave

253 based individual holders of aLINK, seems pretty healthy.

>>18762618
Nothing has any value right now but I’ll be watching for ETH and Link when over leveraged anons blow up.

MKR will support Chainlink soon to add liquidity to DAI we Bull Market now.

>>18763333
Aave has the highest collateralization ratio average of whole DeFi, watch other platform burn down and Buy LEND meanwhile.

>>18763333
checked. Distribution goes great, I cant wait for accumulation

>>18763333
way to load so much fud into quads

>>18763351
doesn't dai minted from usdc defeat the purpose of dai?

>>18764011
If they used Chainlink Black Thursday could have been avoided and they wouldn't even need to add USDC. I hope they add more collateral such as gold and real estate eventually. So long as the Smart Contract itself is bulletproof all of the danger from using USDC goes to the individual vault owner.

>>18764157
>>18764011
Be careful about MKR and DAI. Imo mkr/dai won't last nor have staying power. Why would I lock up eth in a CDP when there's other lending platforms I can hop on to earn much better yield. MKR is simply not capital efficient. Aave, compound, uniswap v2, etc. are all better for yield hunters. Imo DAI will end up as a failed experiment

>>18764157
Professor Tyler from the Chicano Cryptography Club claims Maker added USDC because that would allow them to claim their DAI stable coin isn't technically decentralized because it's partially based upon USDC.

>>18764427
LMAO MKR is still 54.15% of DEFI. And the cheapest way to collateralize Eth. MKR is not going anywhere although

>>18764592
origination fees are wayyyyy cheaper on aave and compound

>>18764586
See: https://forum.makerdao.com/t/agenda-discussion-scientific-governance-and-risk-thursday-march-19-9am-pst-4-00-pm-utc/1703/2


At the same time, severe dislocation in the Dai price trading at $1.08/$1.09, a lot of regular keepers are using the USDC collateral type to help arbitrage the price back down. While it’s not easy to draw perfect causation, the Dai price has improved significantly since USDC has been added. 6 million Dai has been generated in a short amount of time. Tracking this Dai on-chain, it is easy to see that a lot of it has been hitting dexes and secondary lending platforms for peg arbs. I think it’s reasonable to assume that the Dai being generated is helping the Dai price.

DYOR

>AAVE is an acronym for African American Vernacular English
no thanks

>>18764656
Stability fees are 0 to generate DAI. So if you take out a 1 million dollar loan it will essentially be interest free (- the origination fee) provided you have sufficient Eth as collateral.

>>18764744
yeah but closing your position takes a fuck load of dai. .Only .25% of what you borrowed on aave and compound.

Maker is cheaper if you never plan on withdrawing

>>18763821
hes not wrong retard

>>18764657
There are many reasons for doing a thing.

>>18764711
whatever

>>18764711
ok

>>18764657
kek whats the point of using dai when i could skip all that shit and just use usdc?

>>18764776
I own more Lend tokens but hedge with a little MKR. Bitcoin has shit smart contracts, and lightning network is a joke yet it has first mover advantage. The same is true with MKR. It's called Multi-collateral but they only have 3 different types rn lol. Aave is a better project in the short run but DAI is here to stay.

>>18764839
>>18764839

The #1 reason people generate DAI is to buy more ETH. It gives you all of the benefit of a long without any of the risks (using exchanges)

>>18764839
I think meta will win the stablecoin battle. It is like Maker but it only mints from collateralized eth.

Vitalik and molochdao back it

Maker had the right idea but they should have only accepted 100% decentralized coins as collateral.

>>18764884
defisaver removes all the risks of liquidation to. That's why I back aave though. defisaver uses flash loans to boost / self-liquidate. If aave goes down, defisaver goes down, and a ton of eth cdp holders on Makerdao will be pissed.

>>18762443
What does the LEND token actually do? Can you stake it or anything?

>>18764839
This. I'm really disappointed with Maker. I thought it'd be basically all ERC20s, including things like DGX (important to have less correlated assets for those big moves). Instead, it's the usual shitcoins like Bat. Can't even stake my Linkies.

>>18764830
Centralised vs decentralised. Its also good to be able to issue DAI yourself based off of non-stablecoin assets, it provides more liquidity to the market (that is desperately needed).

>>18765197
>it provides more liquidity to the market (that is desperately needed).
legit question what happens when everyone finally makes the switch to dexes ? that would prove liquidity i think

>>18765092
voting rights and crap similar to MKR token. Every time a loan is made a little is burned.

>>18765092
governance for the protocol. They're releasing a tokenomics paper soon.

It will be used to vote on accepted collateral, liquidation thresholds, borrowing/lending interest rate algorithms

the devs released this pic today. They are integrating uniswap liquidation pools. People will be able to leverage to double their erc-20 coin. Then use their leveraged stack to provide liquidity to uniswap, garnering fees from used liquidity.

if /biz/ sat down and studied aave for 10 minutes there would be as much hype as chainlink lol. Look at the amount of institutional investing going into compound. Aave is compound, with flash loans, and the ability to invest in the protocol

>>18765092
>>18765281
sorry, here is the pic

>>18762443
Is this shit safe from a tech standpoint

>>18765307
They worked with Chainlink and have been audited.

>>18765307
Vitalik backs and trusts them.

They are running the hack money competition where Vitalik is a judge. It is a defi hackathon for eth devs. The vast majority of the projects submitted incorporate aave flash loans.

>>18765280
>>18765281
Ah Ok, fair enough. Might need to do more research then. Its come a long way, I remember when it went to nearly nothing a couple of years back, had honestly thought it was a dead project until it got mentioned a few times.

>>18765266
It will, but right now there needs to be way more. Look at that big March crash, everyone needed to exit their positions & stablecoin up, and there just wasn't enough DAI to do it. The whole idea is that you need a kind of decentralised "Central Bank" to provide that liquidity & while it's actually kinda working surprisingly well, need a lot more yet. I don't know percentage of all DEX markets should be needed, hopefully some economics wizz is crunching the numbers - I know the amount right now isn't enough. That's why they need to stop being precious, let me stake my damn Linkies & DGX!

>>18765298
>Link
>Balance 1337
>Deposited 420
Absolutely based

>>18762443
What is this leverage thing you speak of?

>>18765307
>>18765380
this too. Maker crashed because their oracle and auction times fucked up.Aave survived because they use Chainlink. A lot of people with Maker eth cdps actually survived black thursday because they used defisaver(app that uses aave flash loans to self-liquidate in event of a crash)

An aave dev wrote the post mortem blogs are siting for the dforce-flash loan attack. Explained where they went wrong and why protocols like compound and aave are safe. I trust them the most out of all the defi protocols(dydx,compound,aave,maker,bZx)

https://thedefiant.substack.com/p/hackers-steal-25-million-in-hours

>>18765484
yeah I honestly forgot about them. They used to be ethlend(first lending protocol on ethereum). They've been making big moves since their rebrand to aave.

>>18765380
>>18765436
ty anons

>>18765543
deposit your erc-20 token, borrow stablecoin, use stablecoin to buy more of your erc-20 token, deposit new erc-20 token back into aave.

You can keep leveraging and more than 2x your stack using this.

>>18765564
I remember, I think I even did some lending back then with my Eth, but it was shit returns so I got back into just trading my stack lmao. That was back when shit like FUN was still around, 3 years later & it's all changed.

>>18765547
>Makers Oracle crashed
Wait, really?? I remember when those fags were sneering at muh /biz/ scam & explicitly claimed they didn't need it. Unironically bullish for Link, again.

>>18765663
maker gave link so much schadenfreude lol

Yeah. I think it was an insider that stole all of that eth from maker.

Their oracle malfunctioned and the auction times for liquidations was only 10 minutes. gas prices being so expensive and $0 bids being allowed made eth slim pickings for this one person. They basically upped their gas price when the network was congested, and made hundreds of 0 dollar bids. They won all of those auctions and cleared 8 million dollars worth of eth

>>18762673

welp I'm in the top 10 of this list.

>>18765759
Fucking hell. What a fail. Yeah, sounds like an insider alright.

Off topic, since you seem up to date on defi stuff, what's the consensus on Synthetix? I see on aave that their tokens have an insane apy - looks like a kind of CDP-esque platform. Worth looking at? Just wondering if it's worth me grabbing a bunch of those & lending them out at that rate, but not if they're gonna go to 0 through pajeet-tier coding or economics.

>>18764656
>origination fees are wayyyyy cheaper on aave and compound
what do you mean by 'origination fees'? interest rate? it's 0 on makerdao currently.
>>18764776
>yeah but closing your position takes a fuck load of dai
that doesn't even make any sense. You borrow x dai and return x dai. How could it work differently.

>>18765547
>this too. Maker crashed because their oracle and auction times fucked up
completely wrong
>>18765663
>Wait, really??
no. Oracles perform no function during the liquidation.

>>18766421
Well, it sounds like it issued the price wrong. Sounds like an oracle problem to me.

>>18766595
it didn't. Liquidations are an auction, the oracle does nothing.

>>18766421
>>18766618
And how does Maker know your collateral has met its liquidation price ?

>>18766835
from the oracle, but that only starts the auction, which happened

>>18766360
Noooooo thankssss

>>18766884
that's not a fee, that's an annual interest rate.
>Mar 21
the rate is 0 currently
https://daistats.com/

>>18766918
Maker governance just voted to reimburse those who lost their money on Black Thursday. Do you have any idea how much MKR will have to mint and sell to reimburse them?

Cool so just like all the other exchanges you borrow bitcoin/ETH/lithium/coin that allows to be borrowed and you buy altcoins with it.

Tokens have 0 fees for lending, but what about lending 10/100x bitcoin or ETH to buy altcoins?

>>18767087
they are still discussing what's the fair amount to refund
https://forum.makerdao.com/t/maker-mcd-ethereum-system-liquidation-report-and-black-thursday-compensation-analysis/2243/47

>>18767182
It’s still bad for MKR

>>18767108
watch this

https://www.youtube.com/watch?v=BiseNyNpniE

>>18768810

>>18762673
hey that me!

>>18764711
it means ghost in moonswede

>>18765919
Synthetix is a superset of Maker, you mint synthetic assets against collateral, SNX and ETH in particular, Maker allows for the minting only of a synthetic stablecoin, DAI; Synthetix lets you mint sUSD among a dozen other synths

>>18764711
Aave=Ghost in finnish. There is a finnish guy in aave team, i think thats were the name came from.

>>18770043
based

so I just had a look at the AAVE token itself and its garbage..

The platform has collected $60,000 USD in fees over 3 months, annualised that is a return of $240,000 on a $44m market cap platform.

This is an effective return rate of 0.5% on the tokens you bought....

What am I missing boyos?

>>18770488
Nobody uses it for that dude.

so how exactly are you guys making money off this
>deposit stack
>borrow a stablecoin against your stack
>invest that
>sell that investment when it raises to repay the loan+put some back into the stack
?

>>18770672
>deposit stack
yes
>borrow a stablecoin against your stack
yes
>invest that
specifically, buy more tokens and deposit them back into Aave, thereby increasing your collateral (as long as it's a supported collateral token, LINK is)
>sell that investment when it raises to repay the loan+put some back into the stack
yes, sell the additional collateral you've deposited once you're sufficiently in profit and keep the excess collateral

>>18770756
pretty much only interested in increasing my eth stack so this sounds like a good idea

>>18763694
>>18764427
>>18764839
>>18765281

these posts suggest otherwise