DeFi

[Anonymous No.15627665]

He isn't investing in the one rally normies have been missing out on

> Never gonna make it

You have 15.3 seconds to explain DeFi and proof that you're not a normie.

[Anonymous No.15627684]

>>15627665
i'm in link so all these faggots are going to end up paying me

feels good man

[Anonymous No.15627688]

You don't invest in defi. You utilize defi to create collateralized positions and then lend.

Normies will never buy in, because even then the lowest possible IQ explanation of how to engage in defi is beyond them.

Defi is a big brain ponzi scheme game of pass the hot potato.

[Anonymous No.15627697]

let me fill you in on a secret.
https://twitter.com/danrobinson/status/1169689525536215040
https://www.tokensets.com/set/eth20smaco
https://www.coindesk.com/payment-service-bitpay-announces-ether-integration
https://decrypt.co/9317/tether-ethereum-rises-network

[Anonymous No.15627706]

>>15627684
>>15627688
BWUAHAHAHA

[Anonymous No.15627758]

>>15627665
defi is real adoption, and we're early.

like btc in 2012 early.

[Anonymous No.15627777]

DeFi is the single best real world use case we have so far that normies will actually get behind once they realize the ROI on lending DAI/USDC. let's have an intelligent conversation about projects in this space

[Anonymous No.15627799]

>>15627777
quad checked my dude

also probably not going to have intelligent conversation because too many people want to see these projects fail out of blind greed and hatred. mostly bitcoin maxis who hate to see other projects coming close to dethroning the king. truth is bitcoin is centralized. super sad. luckily the market doesnt agree with the haters.

[Anonymous No.15627800]

>>15627697
>https://www.tokensets.com/set/eth20smaco
paradigm looks interesting sir. i've been looking into fulcrum.trade and bZx protocol

[Anonymous No.15627808]

>>15627777

sacred quads.

> let's have an intelligent conversation about projects in this space

What projects are currently still swimming under the radar?

[Anonymous No.15627837]

>>15627808
https://bzx.network/ i bought into a pool for this project, join the telegram. decentralized margin trading. unironically one of the best run projects in the space and tokens arent even released yet. DYOR, this is me helping you anons.

[Anonymous No.15627845]

>>15627800
nice havent used fulcrum yet but im going to be placing an order soon. ive been using DyDx pretty much daily. Theres also pooled together https://www.pooltogether.us

[Anonymous No.15627877]

>>15627845
also been researching synthetix which another anon mentioned yesterday. regarding fulcrum: #Fulcrum is now the #2 dApp on Kyber after only three months. Fulcrum accounted for 20% of Kyber's DeFi volumes last month. We saw a 38% jump in ETH volumes (5.8k->8.1k), despite DeFi volumes falling 28% last month. https://blog.kyber.network/kyber-ecosystem-report-6-16c09211371c

[Anonymous No.15627883]

>>15627808
pic related. onchain zksnark mixers

[Anonymous No.15627923]

>>15627799
no reason the BTC and DeFi can't coexist. crypto is a cohesive ecosystem, when one succeeds everyone wins. we need to move past childish bullshit and think bigger

[Anonymous No.15627950]

>>15627777
>lending
thats how i know its a scam
BITCONNECT 2.0

[Anonymous No.15627974]

>>15627777
>ROI on lending DAI/USDC
It will decrease as more people know about it.
Tragedy of the commons.

[Anonymous No.15627995]

>>15627950

Remember how Bitconnect flew under everyone's radar for almost a year? And most that invested in the early days made more bank than those who invested into BTC. Yeah I remember. You just have to get out before the pyramid collapses, and you'll be golden. Literally.

[Anonymous No.15628000]

Well the only issue with all this is trust. Can we trust the code to be bulletproof? To this day it looks like so but who knows if the rest of the world will buy in

[Anonymous No.15628007]

>>15627665
Deflationary tokens should count as defi, they're as much defi as stablecoins that don't stay stable>>15627950
>>lending
>thats how i know its a scam
the people who use the word scam are usually the dumbest in crypto
You think lending is a scam. You definitely don't own MKR then.

Deflation is a scam, lending is a scam, btc is a scam, ETH, NEO, TRX, EOS are all scams too but I'm still in profit on every single token, i only started buying alts in jan 2017

[Anonymous No.15628045]

>>15628000

we can't, just look at the DAO hack and the other smart contract fuck ups over the years. Most of them had been not only reviewed, but audited by the most knowledgeable people in the scene. Just to have the contract broken by some miniscule edge case fuck up that wasn't accounted for. Right now everything about this is the wild west, and you're playing Russian roulette. But if you can miss the money and can spread the risk you have quite some leverage on your finances in the near future.

> the people who use the word scam are usually the dumbest in crypto

Yep.

Collateral lending is one of the earliest banking mechanisms to date, it's just being represented in smart contracts now. It is a lot more valid than an actual loan from or to a bank, because you can now verify that the money you are lending to someone is being backed by its actual value. Go to a bank and ask them to produce the paperwork that shows you how and were your money is backed against. You'll either get laughs or 5000 pages of paper work that is indecipherable to fuck with you intentionally.

[Anonymous No.15628056]

>>15628007
>if im in profit it means its not a scam

[Anonymous No.15628066]

>>15627950
You are literally a retard this is nothing like bitconnect and OP is 100% correct. All defi is is various financial products you find in the real world but built onto of blockchain. Things like collateral backed loans/margin for now but will expand to many other use cases and experience exponential growth. Soon we'll see more robust ynthetics which will enable someone to put up crypto collateral to create synthetic exposure to something like Apple or Amazon stock, then bonds/t.bills, then carbon credits, then shares of reits and slices of debt on a 30m apartment building then this then that etc etc. Once a secure and decentralized oracle network is up and running that securely feeds data from legacy systems to blockchain world you'll be able to wrap literally anything.

Now, if we only knew a project that could facilitate this

[Anonymous No.15628075]

>>15628066
maker

>>15628045
>>15628000
legit post. but ill tell you i work with private code and we make mistakes with payroll data every day. oops! just as much risk as anywhere im afraid. of course we just tell the users they have to wait weeks to get pay check

[Anonymous No.15628090]

Honestly I'm above average in crypto and don't really get defi is it like sofi yes?

[Anonymous No.15628093]

>>15627995
You can make like 20% a year in interest, it's no 10x don't get your panties in a wad

[Anonymous No.15628113]

>>15628066

Synthetix is offering synthetic contacts, but it is kind of sketchy that their sUSD is backed by SNX only. It would be as if MakerDAO would be backed by MKR only. Still they do have a quite interesting use case. I'm riding their rally, but damn, I won't be surprised if their system blows up in spectacular fashion. They are soon adding AAPL, TSLA and 10x leverage on their synthetic contracts m

[Anonymous No.15628127]

>>15628113

We need synthetic credit default swaps on these loans. Kek.

[Anonymous No.15628147]

>>15628127
great idea actually i read atomic credit swaps are being worked on by the likes of https://defisaver.com/

[Anonymous No.15628151]

>>15628090
No sofi you're still going through a banking org technically. they've bridge people looking for money with people willing to lend, but it's still getting run through legacy systems.

Defi is truely peer to peer, and it's done via smart contracts in the, for now, closed world of blockchain. but that is changing rapidly

[Anonymous No.15628167]

>>15628151
Yes that's what I mean it's just a decentralized sofi?

Regardless the future is her I can't wait to be able to get a decentralized mortgage

[Anonymous No.15628179]

>>15628113
I had a long conversation with Bill the CEO of Abra at the beginning of the year and got on the early bird list for the synthetic's they were rolling out but at the beginning of summer he informed me they had to put US based people on hold to some regulatory things. I believe they are available for their oversee customers, with us coming online eoy or beginning of next.

They'll have something like 100 of the largest stocks and most popular retail stocks to start

[Anonymous No.15628207]

>>15628113
researched a bit into synthetix earlier today. it seems like such a great concept but the regulatory aspect concerns me a bit. i know trades are purely done via smart contract so no P2P trades, but what's stopping govt from stepping in and shutting it all down? tokenizing equities like TSLA and stuff?

[Anonymous No.15628250]

>>15628207
> but what's stopping govt from stepping in and shutting it all down? tokenizing equities like TSLA and stuff?

Literally nothing. They should be racing to decentralize the fuck out of it like Augur is doing. Because currently there exists no precedent for this; and just because you aren't executing trades P2P doesn't mean you may not piss off regulatory authorities and have them turn you in the first precedent. Even EtherDelta got hit by the SEC. Just because we are in Crypto and ~decentralized~, doesn't mean the devs aren't untouchable.

But you'll be shitting gold if these systems remain untouched and manage to take off in a decentralized fashion. So far, we haven't seen that yet, it really could go either way. All of this is the Cypherpunk dream though, it will happen, but is this the timeline? Nobody knows, maybe we need more iterations and some actual failures before one system comes along and does it all right. Bitcoin did spark of from a multitude of centralized attempts to digitize money.

[Anonymous No.15628295]

>>15628250
> Bitcoin did spark of from a multitude of centralized attempts to digitize money.

https://www.investopedia.com/terms/b/bmoney.asp
https://en.wikipedia.org/wiki/E-gold

I am off to wagekek for more funny money to throw at crypto.
Keep the discussion alive.

[Anonymous No.15628424]

I’ve been starting to get into DeFi for the past couple of months now. Funny how it isn’t discussed more on biz, but I’m happy to see this thread. It’s starting to ramp up so much we’ll need a daily general thread on it pretty soon

[Anonymous No.15628437]

>>15628424
theres a group of individuals on here trying to keep the legit discussions down using PSYOP

[Anonymous No.15628540]

>>15628424
daily general thread is good idea. it's perplexing to me why this board hasnt really talked about DeFi at all as well..

[Anonymous No.15628914]

>>15628540

OP here while wagekking. Get a daily started and I'll contribute and help to keep it active throughout the day. I've been promoting DeFi projects since the OG days of MakerDAO, but only a few anons were listening through all the pajeets spamming. DeFi will be different since its all gonna rely on Chainlinks oracle's anyways. The board is due some diversification still tied to sergeys network effect.

[Anonymous No.15628941]

>>15627665
I have 40k eur in nexo
100k usd in stablecoins in celsius
200 BCH also in celsius
weekly dividend is paid in CEL, I send it to Liquid immediately to convert into more stablecoins.
It's genuinely good shit and a much better store of value than bitcorn.

[Anonymous No.15628966]

>>15628941
P.S. Interesting suggestions in this thread, keep em coming.

[Anonymous No.15629027]

>>15628007
>the people who use the word scam are usually the dumbest in crypto
sounds like something a scammer would say

>>15627950
In bitconnect you gave your money away to an organization and hoped they'd give you something back
in defi, your assets are transparent and controlled by a smart contract, not only that but your "gains" are also transparent, the rates aren't set in stone, and you get paid from loan fees.
There's still a matter of trust though, MKR for example have oracles, I imagine other services do too, those components aren't trustless. While there's a risk, it's not a risk of insolvency like with bitconnect, but a risk of foul play, which I wouldn't consider too big, far less big than in bitconnect. Stealing from defi exploiting the oracles, would have to be extremely elaborate, an inside job, would leave a long trail in the public ledger, and would be detected in seconds because the system is public.

Also bitconnect offered like >100% annual, when defi platforms don't go over 20%, closer to 10.

[Anonymous No.15629094]

OP, where are you lending besides compound?
I think Reserve is gonna be huge for DeFi. Obv I hold rsr - not shilling, just counting on a scalable stablecoin being necessary for DeFi to grow beyond the niche it has now.

[Anonymous No.15629143]

>>15628167
Holy shit imagine fee-less balance transfers.
If crypto is good for one thing it's reduction of fees.

[Anonymous No.15629518]

>>15629094
tfw only hold half a mil of RSR.
I'm defo stacking up before mainnet.

[Anonymous No.15629658]

Get a daily going yo 0/

[Anonymous No.15629740]

A Ponzi scheme trying to hide it is a ponzi scheme. Like with all Ponzi schemes, good luck, but most of you will probably be bitconnected

[Anonymous No.15629840]

>>15627665
Where does one buy defi tokens?

[Anonymous No.15629918]

>>15628941
Sounds risky... How much of your nw is this?

[Anonymous No.15630481]

>>15628295

Kek I think I just got tired or quit. So much for wagecucking.

[Anonymous No.15631554]

Synthetix and MakerDAO to make it one year from now.

[Anonymous No.15632160]

>>15629840
You don’t need the token to use DeFi lending/borrowing platforms or to margin trade on things like fulcrum.trade or compound.finance - Just link up metamask and use eth/dai/usdc/etc.

[Anonymous No.15632173]

Maker is shit. They adversite low interest rate then raises the rates on new loaners.

Defi is just a worse version of current finance atm.

[Anonymous No.15632201]

>>15629027
Sacred quads posting from cell phone here. Yes there is always the question of just how decentralized the DeFi platform is and the level of mutability/control devs have on the back end over smart contracts. The good devs obviously are very transparent and are moving towards full decentralization rapidly with robust governance models. At this stage I can’t say for sure which ones are at that point yet. Google “black swan event” , there is risk with all investments especially crypto. But DeFi remains the most promising development out of crypto that I’ve seen so far

[Anonymous No.15632363]

Best way to capitalize on DeFi is buy Chainlink

[Anonymous No.15632390]

>>15632173
>Defi is just a worse version of current finance atm.
borrowing sure, but lending gets you good rates -its still ridiciously early more defi dapps will come out

[Anonymous No.15632412]

>>15632390
most borrowers are margin trading at this point i think

[Anonymous No.15632747]

>>15632412

for now sure, but this is still finance right; we're coming in through the sector where trading is still dominant. But banking this way is feasible; a standard bank can be replaced by a set of smart contracts; even trustless mortgages. The only thing we don't have for adoption are decent off ramps...and unironically, oracles. At this point its not really a question of 'if', but definitely 'when'. It could still be years, or this current rally. If you can see the potential DeFi does have, it's best to get familiar and into a position early :)

[Anonymous No.15632926]

>>15632747
agree with you 100% on all points. when it comes to the question to "when?" i'm inclined to believe sooner rather than later. just a cursory look at the state of the global economy, currencies, interest rates, etc is enough to make anybody with all their chromosomes start looking into better alternatives. the problem is crypto is still in it's infancy, normies likely wont adopt DeFi yet. we're here first bizfrens

[Anonymous No.15633336]

I know effort ain't our strength, but at least someone start a Discord so we can get a daily going. We should organize somehow, all things considered it is incredibly early. Just imagine the information that could be gathered from a daily while others have no clue, and fake projects enter the scene to profit just from the hype.

we could operate like an autistic think tank.
And some whales could splash I guess.
wud be nice
v nice

[Anonymous No.15633343]

bump for intelligent gmt+6 > 12 posters

[Anonymous No.15633365]

>>15627808
Kyber, but idiots won't pay attention

[Anonymous No.15633663]

>>15632747
The fat man says eoy. Though still a ways off from tokenizing property/vehicles...or making boomers fully recognize SC as legally binding agreements irl.

But soon enough this won't be a redditnigger buzzword, but an actual vector to exterminate traditional ursury (and those who practice it)

[Anonymous No.15633813]

>>15633365
Kyber is a good one. Anons should check out www.defiprime.com and do research. I’m all for a daily DeFi thread as well

[Anonymous No.15634356]

>>15627665
Defi Pulse has some really cool dapps on there. Most of these are still in beta or too early but in a few years it could be billions of worth using these dapps for various things. Really promising and 100% need Link for oracles eventually.

[Anonymous No.15634402]

>>15633365
Kyber had a shot at becoming the leading DEX and they blew through laziness, dead in the water now.

[Anonymous No.15634496]

>>15634402
I hope you're joking and you're not truly this retarded, Kyber is not a DEX, KyberSwap is a DEX that uses Kybers liquidity, including many other DEXs and DeFi apps.

They've solved the liquidity problem, and all decentralized financial apps will bend the knee, if you can't see this you're not paying attention and instead listening to shit fud and shills.

[Anonymous No.15634952]

Allright I'll set up a daily tomorrow or the day after if nobody else cba

[Anonymous No.15635434]

>>15634952
My man. Make it happen, I’ll be there