/biz/ - Business & Finance

thank you andre

>>21013693
nulinkers are going to get JUSTed so hard by their greed

How can I participate? I have 1K link taking dust

>>21013765

It’s OK to wait on the sidelines for a while this is for super experimental amounts only

>>21013693
It begins

Its crazy to me considering all the things that have come out surrounding LINK this is the most bullish and exciting event easily this year. People just don't understand how quickly this can snowball.

Is the vault open to anyone then? I don't want to go full retard yet because it I just know the protocol will fail somehow if I put all my LINK in it but I want to test it out for sure. AAVE has 100 Million worth of LINK on it it. How long will it take to see it flow to the vault?

>>21013790
Buy an additional 10 and use them as a test before you put any significant amount in these vaults

Before anybody else comes to FUD I must remind you that these contracts have not been audited and the project is less than a year old so these vaults are a brand new concept but so many people are excited about them just like the early days of bitcoin and even LINK

>>21013824
It’s not crazy. Linkers are the only ones stupid enough to hold to zero.

>>21013824
wtf is this even?

Seriously fuck you scammers. You are rotten to the core.

>>21013824
The vault will gave deposit options for both LINK and aLINK

>>21013838
Ok will do but where do I deposit?

>>21013850
It’s a bunch of shills trying to get us to use this shit app
They are trying to convince us you can make money through mart contract alchemy
Stay away from this for the time being anons

>>21013904
>Stay away from this for the time being
this is exactly when you should be paying attention. if vaults like these are successful, yfi or imitators could be the next multi-billion projects

>>21013904
Kek so smart contracts are shit and chainlink has no use case

1 waifu and you get a +1 at the yacht party

>>21013935
>>21013969
Shoo shoo linklets

>>21013969
They're new and unproven. Why risk your golden ticket?

>>21013844

Absolutely seething. I hope its just envy and not ignorance for your sake.

>>21013850

Utilizing LINK as collateral to borrow USDC to add to a stable coin liquidity pool which generates market maker fees and the excess revenue market buys LINK as rewards for the the LINK pool providers. It has the potential to reduce circulating supply faster than actual staking.

Smart contracts automatically rebalance to prevent liquidation of collateralized LINK.

>>21013997
im not even shilling link you mongoloid

>>21014009
>Utilizing LINK as collateral to borrow USDC to add to a stable coin liquidity pool which generates market maker fees and the excess revenue market buys LINK as rewards for the the LINK pool providers. It has the potential to reduce circulating supply faster than actual staking.
WTF FUCK IS THIS! hahahahah omg

>>21014009
does anyone know why andre doesnt just build a link liquidity pool so we can just skip all the weird loan bs and provide liquidity for link trades? im happy with the product as a long time linkie I just dont get it

>>21013877

Nice. AAVE still has uses to leverage your LINK stack or borrow to chase shitcoin pumps but the yearn protocol is fucking awesome assuming the smartcontracts will be deemed safe. Once insurance contracts are made to hedge against failure I'd go all in.

>>21014009
>It has the potential to reduce circulating supply faster than actual staking.
What does this mean for the future of LINK’s actual use case plans?

YFI is an iq test honestly.
Brainlets don't understand how much of a paradigm shift it is.

>>21014077
They are already working on that

>>21014084
It means 1,000 eoy unironically

finally, a liquidity pool for link whales to dump into and liquidity providers to experience impermanent loss

>>21014084
Will depend on apr of staking vs putting into yfi vault. Remember it is a collateral loan, so 1/4 of the link you put in is actually earning apr, whereas staking link would be 100% of what you put in.

>>21014023
Then what the fuck is this
I had an assumption that I was being shilled to park my links in this dapp

>>21013997
Kek only linklets day this shit

Yeah I know but the whole point of
Link is for smart contracts to be more secure. To not trust a smart contract is kinda defeating the point in holding link.
I agree with you btw this is all boomer tier loans just mixed up in a smart contract. I did it wanna get wrapped up in it with fiat and don’t want to with crypto
>>21014009
Don’t be stupid

>>21014084
I was thinking this to actually. Who know how much Sergey gave away to who ever is actually going to use this tech beside shitcoin gambling

>>21014056

It sounds convoluted but there are tons of inefficiencies in stable coins through all the various DEXes and exchanges. sometimes DAI is 98.18748 and USDT is 9.991. The yearn protocol is using a pool and their protocol to capture the value in between and pay the providers for their offering their liquidity. The protocol takes the generated stable coin revenue and buys LINK as rewards since that is the base collateral.

>>21014164
No
I have enough capital in link that I don’t need to gamble on unproven dapps to make more money

>>21014084

It means we are going to be fucking rich. LINK has 18 decimal points. There will always be "enough" to go around as a result its just that 99% will be tied up and not for sale

>>21014238
Yeah me too. I don’t trust aave either

>>21014164

You'd have to be more specific nothing I say was stupid. This is one more legitimate scenario besides traditional staking that will lock up LINK. Slightly higher risk for better APR. Its looking like 20% right now from what I've read.

>>21014115
I wonder how long it will take?

>>21014096

This. My heart started racing. I got a legit adrenaline rush the moment I understood the implications.

>>21014287
You said I was seething which is not the case. I just want link to actual be used for the tech then just a shitcoin scheme

>>21014287
hes just a butthurt nolinker bro

>>21014333
kys retard and quit wasting trips

>>21014339
>>21014358
Go back

>>21014333

I don't get why people don't understand this? I'm glad you aren't seething but market making is a standard procedure. No one says its a scam when Goldman Sachs or various hedge funds and firms do it with bots on their holdings?

For the slow linkers

>>21014378
I don't get it at all. I'll just let my stack appreciate on the sidelines while you degenerates run this Ponzi desu

>>21014378
Tbh here I stopped paying attention to defi when I was trying to use it with more then 2k at a time. All my profits when to gas fees. Maybe I should re-evaluate this whole thing.

>>21013693
When does the shit go live?
Yeah all this mega-whale AI AAVEbot shit is great, but I don't see any of it on yearn.finance so who gives a shit

It's FTM all over again, all this promised cool shit, let's GO

>>21014429
https://medium.com/iearn/delegated-vaults-explained-fa81f1c3fce2

>>21013693
If you put your linkies into this now, you are an actual retard. At least wait until it's audited and been running for a while first.

>>21013871
Dont trust.

Verify.


Scammers are out for your LINKIESSSS

Again don’t put any LINK in a vault your not willing to lose

>>21014486
Jesus anon, give him a day

>>21013824
pls spoonfeed like im a retard
t. all in link but no time to research new defi crazes

>>21014075
At the end of the day LINK is just another ERC20 token, but it’s the most valuable.

Many more vaults will come out in the future for ZRX, WBTC, CRV etc but this is the first of many

>>21014096
Give them time it will come like a flash of light

>>21014310
Andre works like a maniac probably sooner than later

>>21014429
Gas fee optimization is one of the best parts of using the YFI Protocol the gas fees are shared amongst the participants

>>21014486
Nobody works faster than Andre my friend go to/gifs/ and start jerking off to traps and before you know it you can stake

My reaction when the basket weaver millionaire who invested in LINK at nine cents doesn’t understand DEFI

90% link, 10% yfi

>>21014538

Bottom reply

>>21014009

>>21014327
>the implications.
tell us anon

>>21013693
wtf does this shit even mean lmfao when do i get rich

>>21014424

Bottom reply for you as well

>>21014009

>>21013693
"The vault becomes a LONG whale with enough LINK capital. Consider the vault has $1m worth of LINK, which at health factor 4 (assuming 100% LTV) is $250k worth of USDC, earning ~20% APY. That’s $136 worth of LINK purchased off the market, every day. Aave currently has $106M worth of LINK, if that migrates to the vault, it would translate to $14,520 worth of LINK purchased off the market, every day."

If you want to pump LINK and get passive income for it, stake in the yVault. Beautiful

thanks andre

>>21014625

Thats what I hear. Hes an interesting guy. Hes a maverick lmao but for real though

>>21014773

You’ll find out when the rest of the world does, don’t worry you’ve already done the hard part which is secure your LINK. Don’t put any money in this vault until it’s audited

>>21014573
A huge percentage of ERC assets are going to end up in yVaults. YFI is the liquidity black hole

>>21014495
The yVault is being designed in a way to minimize gas costs. Think more like $2-$3. Game changer.

>>21014751

It has the potential to tie up circulating supply faster than actual staking while doing what >>21014813 posted at the same time. Revolutionary. I hope its open to the public soon. You don't need to buy YFI or anything you are just using the protocol and the Curve liquidity pool

>>21014773
When do you graduate Mumbai Municipal Potty Training Academy?

>>21014646
Yeah but what’s the point of this shit? Just to take loans out to buy more crypto? This feels like the housing bubble

>>21014009
This is currently available. It's fairly easy to borrow on aave with link. The new development of today was Andre adding the delegated vault feature for link which will be finished sometime in the near future I think. I'm not entirely sure how the pooling strategies are going to work but it'll save a lot of money on gas. Hopefully we'll be staking link on there with a varied pool soon enough

>>21014912
Arbing stablecoins, mostly. Lotsa money in that anon. Ask Brian Armstrong.

>>21014844
I wonder what the implications are for this in the limit of large amounts of erc20 tokens being locked. You can’t just long every single erc20 token. I think it will eventually lead to a panic sell and massive dump for some shitcoins in a few years kek

>>21014842
>>21014842

Yea either audited and/or insurance contracts to hedge come out so you don't lose your LINK. You will just pay out a fraction of your APR most likely. That would probably be something you'd want to do with actual staking as well honestly. I barely trust even SaaS that will be offered by Coinbase and other exchanges most likely

This is fucking insane guys I’m actually scared were breaking reality too hard

so linkpool is kill

>>21014844
>>21014751
YFI (and defi in general) could be the black swan that sends link to $1000 this cycle. As in 2021-2022. It completely changes the liquidity dynamics of crypto.

So many brainlets in here, even people who probably bought link at 20 cents, who don't understand where defi is headed. I've been in crypto since 2016 and I haven't been as excited as I am right now for the future of crypto.

2017 was just the test pump.

>>21014984
no not at all

>>21014912
It results in more linkies at no extra effort than a couple of clicks

Do you realize those trillions of bonds at negative interest-rate‘s right?

Once bankers figure out artistic basket weavers can make it positive yield through mathematically guaranteed contracts I don’t think you understand what’s going to happen

>>21014992
Look guys he said brainlet

>>21014992
Best advice I can give is don’t risk any link, I’m just so fucking excited for the future of DEFI I wanted to share

>>21014992
Liquidity is a double edged sword. Look at snx last spring. Very easy to pump, but also easy to dump. Supply does not get locked, and circulating supply does not change whether your link is in a smart contract or not. People that think circulating supply going down means the price goes up are retards.

>>21014992
Absolutely based.
>need to know more intensifies

>>21015081
Idk I’m more inclined to believe that they will trying to blend both worlds not go full tilt into defi them selfs. Idk I’m probably wrong

woohoo, this is great

>>21014096
>>21014992
>>21014327
>>21014888
how do you feel about what bancor is also doing, and what it could mean for further LINK scarcity? Sergey wrote a big blog post about it and was insanely bullish

>>21015126

Well its not "locked" for a set time frame or anything but if you sell you can't accrue interest so you are incentivized to participate. If there is demand and it stays neutral or goes up and available supply of something decreases what do you think happens to price? Not to mention the LINK yVault will literally be adding buy pressure every single day.

>>21015219
Link to blog I had it saved but lost it

>>21015126
Reducing circulating supply reduces the sell pressure without impacting demand. This moves the price up. You may be the retard anon.

>>21015126
Prime example right here of how few people understand YFI. If you think it's anything like SNX liquidity, you have 0 clue about any of this.

Just hold your link anons. You don't even have to participate in YFI.
2 years from now, people won't believe you when you tell them you got in on the defi bullrun this early.

https://blog.chain.link/challenges-in-defi-how-to-bring-more-capital-and-less-risk-to-automated-market-maker-dexs/

>>21015220
Omg 14k of buy peessure from 10 million link. Like i said, it works both ways. Easier to pump, easier to dump. A wick on bitcoin will fuck link up when theres nothing on the books. Ive been in snx for a year,ive seen all this play out, you all are deluded. Theres already 10mm on aave, it doesnt affect the price. Stop being retarded please.

>>21014751
Initially the idea was link would become unavailable due to most links being tied up in nodes over time. Supply and demand would increase cost of link as this happened.

What op is implying is that link goes into a “vault” as it’s purchased or loaned whatever meaning less supply, more demand as the price would continue rising, more link into the vault as its loaned, less supply due to vault, higher price, more fomo/price action, more loans etc etc

Basically link gets sucked away from the market and snowballs, like a singularity if you will

>>21015344
I also forgot the buy pressure from the vault as well, basically it’s a permanently long whale putting buy pressure on the market.

If it’s all true then, just, fucking hell man what more is there to discuss

>>21015317
literal midwit

>>21015268
I was unironically trading on nuo before link was on mainnet. I was in uniswap a yeat before pajeets found it. Curve, balancer...all that shit i had exposure to from snx. Youre just deluded retarded linkies being deluded and retarded. The only price increase will be from retard fomo, but thats been the case since link twitter became a thing.

>>21015317

Which is it then? If there is nothing on the books than constant buy pressure is amazing. There is massive incentive to accrue interest from the liquidity pool. AAVE is mediocre and used to diversify into shitcoin moonshots or leverage your stack via a loan. 10 Million is also a lot to lock up. I bet the real circulating supply is much lower than people think. A lot aren't for sale by holders whether its Binance or retail etc

If you are a fan of Andre Cronje dont forgot to purchase some Fantom as well!

lol why have to buy fantom? andre is out of fantom long ago

>>21015410
You gotta remember there are a lot more nufag a on biz who read articles and think it’s ground break with out actually having used it

>>21015453
Circulating supply is a fucking pajeet meme on premined tokens. Marketcap itself is a derivative on price. Link has pumped since it was added to aave, not because link is locked up there, but because its been pumping for 2 years now.

My opinion is that whether you go on aave and borrow stables to go in the ypool or some other yield farming shit, or go into the yvault directly is inconsequential and will have a neglible effect on price. It will still go up, but only because retards are paying $10 for it now.

>>21015553
Do you even own any link

heavy bag of fantom?

>>21015542
Been that way since the blx partnership when they told mw it was proof positive that nasdaq was integrating link because of the transitive property of partnerships. Ive hated linkies and this board for years now.

>>21015562
Yeah went all in in spring and summer 2018. Never bought above .30 and only sold a little when i deep dived snx.

>>21013904
lol too late

already invested in the crypto equivalent of derivatives, you can't stop me

by the time the house of cards collapses, I'll have made many times more than my principle in dividends.

When ROI is 200%+ of capital invested, doesn't matter if the house collapses eventually; it's not gonna happen before the bull run, so no reason not to deep dick that yfi/yfii derivative alchemy.

>>21015614
what made you invest then?

>>21015655
No spoonfeeding from me faggot

>>21015667

>>21014164
if you get in before the bull run you can make serious dosh in a short period of time.

I've already made back 60% of my principle, my liquidity will be essentially totally funny money by the time August 15 rolls around, at this rate.

>t. early yfii-bal pool investor

>>21015667
Ive been all in since early 2018 also. Started with almost 80k, but had to sell some for rent and various other expenses. There’s nothing you could teach me, I’m just curious to hear what someone with no foresight or vision invest in link

>>21015738
>2018

>>21013693
its literally dumping right now

>>21013844
Based

someone give me the quick gestalt of this thing.

>>21013969
Based

>>21015828
It’s going to suck up link off the market and pay out people who participate in link. That’s what everyone is thinking is so ground breaking

>>21015846
So if I hold link, this will make the price more valuable?

>>21015738
Ive dabbed on you morons all through this thread. I continue dabbing on you with this post. Ultimately, this means very little for link. Nobody was creaming thier jammies over bancor v2. You can earn slighlty higher interest on your link than with aave going into ypool directly. Big fucking deal. I really dont give a fuck what you do with your meme stack or how much gas youll save.

>>21015897
Yeah that’s what everyone is imagining

>>21015828
You get a proper APR for your savings. It has nothing to do with Chainlink but getting the proper amount of money for lending your tokens of solid projects like Link. You can't print Link away to low interest rates. We are entering a new paradigm where capital's structure can't be destroyed by money printing. This is bigger than Link

DeFi dumbass here.
What do I do with YCrv now?
Ive got about 9k of em.

>>21015909
reee harder faggot

>>21015909
>dabbed
kek get a load of the salty zoomer bitch

>>21016024
What exaclty am i mad about? Ive held link since it was on page 2 of cmc and mined yfi before youd heard of it.

This is not what you think it is. Its takibg on massive risk of curve pools for a few basis points against your link stack. You have to trust not only link, but dai, usdc, tusd, and tether never deviating from their pegs and that andres code is bulletproof. I dont want you fags begging for a bailout because you loat your link when the tusd peg broke or tether gets fucked up.

>>21016113
I dunno anon, seemed salty about something. Maybe I misread it.
As for this thread, I don't disagree. It's added risk from unproven systems that isn't worth it if you're holding any substantial amount.

>>21016113
Is snx still a good buy to hold? Was thinking about buy some or getting into another project

What do you smart anons think is more risky. This or earning 6% on crypto.com and a comfy card? I can't imagine crypto.com failing until after the next bullrun at earliest

>>21016182
>seemed salty
I wonder what about?

Are we shilling YFI now? I’m down. I got 2 in the bag.

Someone explain to me what this YFI thing is/what it does, and why people are freaking out about it

>>21013693
oh fuck. i am ready.

>>21016182
>It's added risk from unproven systems that isn't worth it if you're holding any substantial amount.

This is what people said about crypto in the early days.

>>21016113
hahhaha what a butthurt nolinker fag

>>21016221
No comment
>21016234
You realize thats literally referring to the exact same thing were talking about except for automating snx staking? This is why i hate you people... its bullish for link but bearish for snx even tho its essentially just another vault. It will save snxlet stakers gas but also expose them to substantially more risk. There are no free lunches

>>21016317
nah g I'm just yankin your chain

>>21014009
this guy fucks with the lights on.

>>21016113
>what precisely am I mad about?
You're clearly a tranny with fucked up hormones and a penis you wish you didn't have. Kill yourself.

>>21015410
Just stop. You're embarrassing yourself. It's obvious you're a retarded 2018 newfag.
The fact that you're equating link and YFI to SNX shows how out of depth you are.

>>21016462
I've defended all my points quite well in my estimation. I've been in defi since was even called that. This shit is not 'staking lite' or whatever you niggers are trying to say.

I agree that YFI is a big deal, specifically being able to put pool tokens to work, but the idea that this is going to make link moon is fucking retarded. I only equate this to snx insofar as taking tokens off exchanges doesn't magically make the price go up.

I understand Curve and the risks associated with it because I have been using it for months now. If you think the overhead risks of curvepools are worth risking your link stack over knock your fucking self out.

So what does this mean for YFI price? I have 1, should I buy more?

so from what I understand this is basically forex niggas but link
pretty comfy rn ngl

>>21016530
so you don't trust smart contracts? What's the point of all this then?

>>21016653
I do trust smart contracts, I use them every day

1. This will not make Link moon and it is not 'staking lite' as twitter faggots are calling it.

2. Your exposure here is not only to Andre's code, but the Curve niggers code, and 4 different stabelcoins maintaining their pegs

3. Yield will not be great

People act like this is a risk free money but it's actually exposed to quite a number of risks not related to chainlink or even smartcontract risk for what may amount to boomer tier APY.

YFI Suicide Stack: 1

YFI Make it Stack: 5

YFI Chad Stack: 10

>>21016818
what gives YFI token value going forward?

>>21016818
DeFi needs stablecoins to function, you are buying the Lego Holes by which any DeFi Dapp meaningfully connects.

>>21015378
Yup that’s game literally didn’t need to be in this board in 2019 . 2018 we found all the crumbs and everything came true this year. Now we have the things that we didn’t know could happen happening and it’s the most bull of all things. This is it it’s a wrap

>>21015553
Yeah man supply and demand is all just like an opinion man. Kys

>>21016926
the greater fool

>>21017137
were you replying to me?

>>21014422
14k isnt a whole lot though, is it

>>21017200
kek. nice catch. yes desu. now follow the bouncing ball and get yourself a suicide bag + some link to collect more link.

this is literally the black swan event >>21014992

>>21017277
I just want to know what specifically gives the YFI token value, THE TOKEN.

>>21013693
fucking based ANDRE!
FUCK NO LINKERS

>>21017335
take the time to read on yfi's medium. worth it.

>>21017335
https://www.youtube.com/watch?v=3IkRHymMWLM

and learn about curve as well to understand this. youtuve has a good video on curve

>>21013693
where do i find this vault? its not on yearn.finance

>>21015268
the chad forward headtilt, gets blood flowing into your frontal cortex which is responsible for critical thinking

>>21015909
>Ive dabbed on you morons all through this thread
What you call dabbing on morons, the rest of us call embarrassing yourself with displays of Dunning Kruger.
>>21016113
> Ive held link since it was on page 2 of cmc
nufag
>and mined yfi before youd heard of it.
How do you know when we heard of it? For all you know I am Andre.

>>21016647
Pretty much yes

>>21016926
All the fees. This is the hilarious part, right now $60k per week in fees is coming in, with 50% expected to flow to YFI holders (other 50% for budget). Only 30k YFI.. This is with less than $200m AUM currently. When link and eth and snx and other assets start pouring into the vaults, fee revenue will also climb. This has the potential to go to $100k per coin, and unlike almost every other crypto in existence, there are real revenues. You can actually calculate a P/E ratio with this.