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/biz/ - Business & Finance

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>> No.17160136
File: 114 KB, 1242x1262, 2020-02-09 14.12.34.jpg [View same] [iqdb] [saucenao] [google]
17160136

>he's not making 10% a year on his money by lending it out on lending and borrowing defi platforms

>> No.17160181
File: 66 KB, 785x731, crysoy.jpg [View same] [iqdb] [saucenao] [google]
17160181

NOOOOOO YOU CAN'T JUST MAKE TEN PERCENT NOOOOOO

>> No.17160203

>>17160085
how having money price locked not go up

>> No.17160204
File: 65 KB, 1200x514, 1ED281C0-140F-4B39-BE97-913B2908B761.jpg [View same] [iqdb] [saucenao] [google]
17160204

>>17160085
>gambling your holdings on the security on shitcode smart contracts

>> No.17160217

Is DAI the most reliable stablecoin? I was just thinking about how most of these other companies could just up and vanish at any moment, but DAI might persist.

>> No.17160458

>>17160217

DAI will be really decentralized when Oracles v2.0 comes out from Maker. DAI will stick around.

>> No.17160502

>>17160085
Could you explain to me exactly how the interest rates work on these platforms? I know they're based on a ratio of supplied amount and borrowed amount, but say you deposit 1,000 DAI to DYDX and it says you're earning 5% interest. People start borrowing like crazy for margin trading and the supply dwindles and suddenly your interface says you're making 20% interest or something crazy. Is everyone with deposited funds making that money? Do people that borrow have variable rates that depend on the total supply? How can everyone that is lending DAI on the platform be making 20% just because the supply is dwindling? Thanks.

>> No.17160706

>>17160204
>implying most people aren't gambling already by keeping their money on the exchanges

If you're going to do that, might as well get paid while you risk.

>> No.17160836

>>17160502

The platforms with the high rates put their DAI inside the DSR when it isn't being borrowed. The borrowers using Fulcrum and Compound pay higher rates than the DSR. Everyone with deposited funds is earning that %. Borrowers on Fulcrum, dYdX, and Compound have variable rates, but Fulcrum is way less variable for borrowers than the other two. And borrowers on Torque get completely fixed rates.

>> No.17160837

>>17160204
Idk, I'm thinking of moving all my savings to Makerdao or something. Yeah, if eth crashes we are all fucked, but we are all fucked if the economy crashes either way. That's what happens when your wealth isn't stored in physical means.

>> No.17160884

>>17160837
did any of you guys pay attentionto davos 2020? they main focus with crypto was worrying about stable coins for that very reason. Defi removes people from the jew system. No more fractional reserve banking. Lock your saving up in smart contract and earn more then what you would get with a bank with out worrying about the currency crash

>> No.17161030
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17161030

This is the only high IQ thread on /biz/ right now

Cant believe I didnt know about any of this. Thanks guys

>> No.17161096

is anyone worried about the long term sustainability of these rates?
also the potential to exploit the smart contracts (even though they're audited and open source, it still happens)

>> No.17161183

>>17161096
in what way can they be exploited? i thought the whole point of smartcontrracts was to remove trust.

>> No.17161227

>>17161030
I second this. Much appreciated

>> No.17161255

SNX getting absolutely justed. Link discord trannies raiding. Minters capitulating. Free money is on the table for interested parties.

>> No.17161268

>>17160458
wait maker has its own oracles? have you heard anything from them on using link?

>> No.17161614

>>17161268
Also slightly interested in this

>> No.17161737

So I've been doing research on dai, and this seems like a real issue that could happen. Anybody have any defenses?


https://medium.com/coinmonks/how-to-turn-20m-into-340m-in-15-seconds-48d161a42311

>> No.17161764

>>17160458
kleros is going to fucking dab on DAO by end of Q1 when governance is relinquished from the devs to jurors and becomes completely decentralized
screencap this

>> No.17161771
File: 2.81 MB, 3024x3024, 9742E8C2-86D1-4ACC-BAE4-4295BC11BD6B.jpg [View same] [iqdb] [saucenao] [google]
17161771

>>17161764

>> No.17161810

>>17161737
Yeah two things
a.) there isn't liquidity to do that. Actual cost would be in the hundreds of millions
b.) since writing this they put in a time lock so more voters can come vote if there is an attack

>> No.17161824

>>17161737

They implemented the fix after this article came out.

>> No.17161857

>>17161810
the whole voting thing pisses me off desu

>> No.17161862

>>17160085
Anyone think Melon Protocol might be worth throwing in the general. Interesting stuff going on with it.

>> No.17161865

>>17160836
Thanks man, glad to see this board isn't just shitposting.

>> No.17161872

>>17160085
BITCONNEEEEEEEEEEEEEEEEEECT

>> No.17161904

>>17161810
>>17161824
Thanks, appreciate it. Is there any other major exploit or concern floating around out there? That's really what I've Bowen looking into.

>> No.17161905

>>17160085
Other thing to maybe add is Set Tokens for investments. Have not had time to dig into Atomic Index yet. I know it runs on komodo just havent had time explore it.

>> No.17162260
File: 50 KB, 640x480, 1575993879309.jpg [View same] [iqdb] [saucenao] [google]
17162260

>deposit LINK into AAVE
>borrow sUSD using LINK as collateral
>buy sLINK with sUSD on synthetix exchange (0 slippage)
>pay off sUSD loan when LINK goes up
>keep sLINK as profits

yup it's that easy

>> No.17162345

someone do the needful and deposit usdt on aave
the interest is 22% right now

>> No.17162347
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17162347

>>17162260

AAVE has a bunch of hidden fees and isn't battle tested. Use Torque instead, it's free and has way better fixed rates.

>> No.17162484

>>17162345
Absolutely not

>> No.17162533

>>17162347
>hidden fees in defi
fixed rates are bitconnect-tier centralized shit. where does the money come from when there are more lenders than borrowers? they either don't have it or they are gambling with your crypto to try to cover the interest

>> No.17162554

>>17162484
ok

>> No.17162561
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17162561

>>17160085
looks like youre going to need some decentralized oracles for that.

>> No.17162642

>>17161255
are you buying into the capitulation?
How is there money to be made

>> No.17163147

>>17162642
IF you have any trade stack at all just mint the snapshot. buy SNX, mint, and sell and you get credited with a full week of staking with none of the risk of taking on debt

I think it'll bounce before wedenesday when people need to collect, but the more that ETH moons the more mad minters are going to get because they're effectively short ETH. The weekly dumps will get worse and worse as more people realizing they're absolutely getting played

>> No.17163332

Bump

>> No.17163369

bump

>> No.17163392

>>17160085
why is the APR on linkies so low wtf
is it worth risking my links for an additional payout

>> No.17163462

is their some sort of defi index I can use in a delusion shitcoin bull run to profit off of instead of investing in 100 different coins?

>> No.17163506

>>17163462
ftx has tons of shit like that but it's derivative instead of the underlying shitcoin. a lot of them trade as erc20's even if it's not fully decentralized.

>> No.17163780

Bump

>> No.17164177

Ok

>> No.17164199

>>17160085

Is this the new ICO scam to generate demand for ETH?

>> No.17164245

>>17162533

Derp, calling the only actually decentralized lending project centralized.

>> No.17164258 [DELETED] 

I use a lot of those sites to make $$

>> No.17164366

>>17160085
so why not just be decentralized using bitcoin?
why mimic fucking usd, or any other fiat currency? coronavirus literally murder some fiats

>> No.17164492

>>17161268
>>17161614
listen from 1:15:45 for Rune's most recent opinion on LINK, but it's ultimately up to MKR holders who gets to operate oracle nodes for Maker
https://wyre-talks.simplecast.com/episodes/fc4e10f3-fc4e10f3

>> No.17164556

>>17164366
That's not really at all what is going on. Dai pegs itself to USD so it can be a stable coin, but makerdao is more than just a usd stablecoin.

2nd, BTC doesn't have that functionality. Don't give me some shit that Sanjays vision does, that shit sucks.

3rd -- no matter how much we cry, the usd is still the currency of America, and arguably the currency of a lot of countries in a global market.

>> No.17164853

Coindesk finally paying attention

https://www.coindesk.com/why-defis-billion-dollar-milestone-matters

>> No.17164872

>>17164853
We made it

>> No.17164917

>>17164853
all enabled by decentralized price feeds

>> No.17164944

>>17160884
Have a pertinent video? I didn"t watch any Davos talks this year.

>> No.17165170

What is the best way to invest in DeFi?

>> No.17165218

>>17165170
easiest way is to put some DAI in the DSR or lend similarly on one the platforms listed in OP, go buy some tether and deposit it on aave for keks, 20% mang

>> No.17165233

>>17165218
>>17165170
jk it's 14% now, you need metamask or another wallet to interface with any of these dapps

>> No.17165244
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17165244

FAAAAAAAANTOM GAAAAAAAANG COMING IN TO FUCKING TAKE ALL THE DEFI MC SUCK IT BITCHES

>> No.17165296

>>17165244
I'm in fantom too. Earning interest on fiat while staking fantom. Brilliant.

>> No.17165351

Bump

>> No.17165465

I saw the coin desk post today also

It amazes me that biz is not shilling the fuck out of this everywhere

All of the crypto subreddits like ethtrader, ethfinance, cryptocurrency seem to be stuck on the old paradigm of getting rich of ICOs

There are literally no threads with this much information anywhere like this

Thanks OP, best post I've seen in a while


The question is, how do we profit from this? Is there a way to buy tokens of the platforms listed in OP? Fulcrum? Torque? Compound?

I'm really excited for this as I firmly believe that the ico era of crypto is over

>> No.17165496
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17165496

>>17165465
ditch your traditional savings account and put hold a stablecoin in one or all of the protocols desu

>> No.17165501

>>17165465
>Is there a way to buy tokens of the platforms listed in OP?

this is why you never here about them

>> No.17165533

>>17165465

Fulcrum is going to have a token sale later this year. Easy top 30 token.

>> No.17165551

DeFi is the future, I'm embarrassed that I bought and supported a scam named Safex, they convinced me that they will build a descentrilized marketplace and that will overtake eBay and Alibaba, it was all lies, I lost alot of money, I am now a DeFi believer and supporter, I'm lending money and making 10% per year, fuck the SAFEX scammers for stealing my coins and dreams.

>> No.17165728

>>17160085
anyone know wtf is up with maker and the old team building a competitor? rune fired everyone out of paranoia or something?

>> No.17165741

>>17165728
hmm the fuck u talkin about?

>> No.17165762

>>17165741
thats what I'm asking you fucking mongoloid
does anyone know whats going on with the people that built maker and why rune fired them all

>> No.17165779

>>17165762
so link some news relating to what you're talking about

>> No.17165802

So how do you earn DAI with MakerDAO? You simply buy MakerDao and earn 7% per month on how many DAI you hold in the MakerDAO?

>> No.17165808

>>17165533
Source? Can't find anything about that.

>> No.17165828

>>17165779
it was in the maker threads yesterday, the OP was shilling MKR and IP hopping, someone else said rain got fired and is working on a competitor but that neither side was willing to say anything about it
that is literally why I am asking, if there were news I would not need to ask
thought this was where the shitcoin scoop happens

>> No.17165848

>>17165802
trade something for DAI, deposit DAI into the DSR, earn compound interest
https://oasis.app/?lang=en

>> No.17165873

>>17165728
>>17165741
>>17165779
>>17165808
https://ethresear.ch/t/announcing-metacoin-the-governance-minimized-decentralized-stablecoin/6897/26
this is not the old team LOL

>> No.17165885

>>17165779
>>17165808
>>17165828
>>17165873
wrong >> sorrry

>> No.17165888
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17165888

>> No.17165951

>>17165873
That is probably not it, that thread is a clusterfuck and I don't think rain is working with the fucking spankchain guy

>> No.17166189

>>17165848
Earning interest in stablecoins in a bull market is dumb. You're missing out on so much gains to have a single digit percentage gains over 12 months.

I'm more interested in doing this in a bear market, but then due to DAI economy wanting to maintain the dollar peg, stability fee will go down significantly and so will DSR making it not as attractive as now.

>> No.17166200

What's the difference between DAI and SAI?
How is the easiest/cheapest way to buy DAI with USD?

>> No.17166232

how do i profit off defi in a bull market?

>> No.17166485

How would a US citizen pay taxes on gains?
Say I put in 10k into DAI, put it on fulcrum at 10%, let it accrue, then withdrew 1k a few months later.
Is that 1k considered all taxable income?

>> No.17167033

>>17166232
Buy fulcrum tokens

>> No.17167124

>>17167033
Gl, presale is done. You can buy my bags at 10x that price

>> No.17167167

>>17167124
How much?

>> No.17167231

>>17164492
I read MakerDAO have invested on another oracle called Tellor (TRB).

>> No.17167459

$FCUM tokens don’t exist.
I’ll help you poor faggots out. All these defi platforms you are talking about run on the bZx protocol. They have a token $bzrx, but it is locked. Pre sale was in 2018 and rather than list anywhere they built and built and built. You guys missed out on the presale (fucking plebs) but it will list this year. And when it does it will make us all fucking rich.

>> No.17167642

Finance boys making money out of money again

>> No.17167710

>>17161764
Based

>> No.17168123
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17168123

>> No.17168140

>>17167167
0.0073eth per is what I'll be selling them for, 10x presale as I said lmao.
Probably still heap given how far they have come since then

>> No.17168144
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17168144

>>17160204
Even worse: Doing this in the early phase of the golden bull-run

>> No.17168147

>>17167459
I wish they were called $FCUM tokens, i would have bought more

>> No.17168160

>>17166485
(((they))) don't have to know

>> No.17168192

>>17166485
Yes, it's the same as accumulated bank interest.
Also nice choice in defi

>> No.17168325
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17168325

>>17160836
What are the borrowers doing with the borrowed funds? I am assuming leveraged trading, but there is no advertising on these platforms- hey, borrow money so you can do X with it.

>> No.17168345

That fulcrum interest rate seems too good to be true. What is the catch?

>> No.17168430

>>17165888
Richard don't come back. Just don't. Until your project is at least 2 years old AND worth more than 10 satoshies just kys.

>> No.17168442

>>17168345
None. There's already ~11% interest rate if you use centralized service. Why wouldn't there be ~9% or even ~10% on decentralized one?

>> No.17168548

>>17168442
Sounds fair I suppose. Is there any trouble with using myetherwallet? I prefer a hardware wallet myself.

>> No.17169283

>>17160085
Will DeFi make Bitmex obsolete?

>> No.17169318

>>17169283
Yes. It is just a matter of time.

>> No.17169474

>>17166232
Borrow/Create a stablecoin and trade it for something that will out perform the APR% and pay it back/keep the profit.

>> No.17169715

add https://defisaver.com/ to op.
Nice tool to manage compound, dydx, fulcrum and dsr lending with one interface

>> No.17169727

>>17169715
wait it's in wallets section

>> No.17169810

>>17168325
71% of people who are borrowing are leverage trading

>> No.17169876

Any of you guys have IdleDAI holdings? I ask because I think something went pretty severely wrong with it; I woke up today and I've already been credited 6% interest after something like a week. Unless something got screwy with Fulcrum/Compound?

>> No.17169903

>>17168325
yes, decentralized leverage position or you can simply protect yourself in 2 cases:
>if you have open CDP or borrow with ETH as collateral and ETH dumps hard you keep DAI. If it dumps enogh you can buy more ETH than you had locked up anyway.
>if bullrun starts and your locked ETH is worth shitton of money you pay the loan back and get big profits from ETH holdings without risking of it dumping before the pump (because you've had DAI too)
that's what I'm thinking

>> No.17170178

So how does liquidation works in makerdao CDPs? Who get's the ETH from it? I once heard that MKR holders get some fees, is it true? Can you stake MKR or something?

>> No.17170274

>>17166232
>>17166189
Interest goes up during a bull market

>> No.17170360

>>17167033
what's fulcrum token used for?

>> No.17170553
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17170553

>>17164366
Because fiat currency is still useful? I used to be like you, but BTC is slow and expensive. It's much more functional to transact with USD pegged stablecoins for everyday transactions. Now with protocols like Curve I can fiat on/off ramp with 0 fees.

>> No.17171110

>>17160136
Why? You can do that on stable ETFs.

>> No.17171187

>>17171110
Until the etf crashes

>> No.17171195

>>17171110
are you compared centralized ETFs to decentralized protocols? I don't even need ID to save my money now. Everyone should have right and be free to secure their wealth.

>> No.17171287 [DELETED] 

Why is DAI APR on Fulcrum higher than on Compound, what's the catch?

>> No.17171346

Why is DAI APR on Fulcrum higher than on Compound, also why is SAI higher than DAI, what's the catch?

>> No.17171347

>>17171187
We're going to have other problems when index replicating ETFs start crashing

>>17171195
Yes I am, this is /biz/ we're talking profit, while I love the tech it's not the point. When you look at the risk/reward ratio then it doesn't make sense (poorly written contracts).

Also when I look at APR for the different lending platforms it's barely touching 1%, stop larping with 10%.

>> No.17171446

>>17171347
>poorly written contracts
>barely touching 1%, stop larping with 10%
you literally have no clue on the topic faggot
yes it's 10% for DAI lending on fulcrum, about 7.5% on compound

>> No.17171523

>>17171446
Yeah my bad seems like I don't, I figured it out.

What do you do with the collateral you get when the borrowed get's liquidated?
You need to immediately sell it for something else before it continues dipping. Or the plateform takes care of it?

>> No.17171577

>>17171523
The platform takes care of everything basically. What you do is put in stablecoins and watch it grow real-time with set percentage that depends on amount supplied and amount borrowed

>> No.17172202
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17172202

>>17171346
This.
Right now SAI is at 16% on fulcrum and DAI at 10%
What gives?
And why is Fulcrum so much higher than compound.finance?

>> No.17172238

>>17172202
And why is SAI so high?

>> No.17172245

>>17172238
Low liquidity. Just go look at the stuff and try to figure it out

>> No.17172269

>>17172245
So what, can I make some bank converting my dai back to sai?

>> No.17172325

Fulcrum is only higher sometimes, usually when it's going through a growth spurt like right now. They seem to be better at setting their interest rate model because the spreads are usually the tightest.

>> No.17172450

>>17172269

Exactly, arbitrage should bring all these values together which makes me believe there’s other reasons for this % difference. WHAT IS THAT REASON?

>> No.17172684

so whats the purpose of DEX tokens like bzrx?

>> No.17173021

I'm retarded, tried, and new to the concept of DeFi lending, but if I'm understanding things like MakerDAO right: if you put in 10k USD worth of ETH and it falls below the liquidation level at any leverage, you effectively lose everything plus owe a penalty unless there is excess collateral to cover it?

>> No.17173406

>>17172684
To get paid. BZRX is going to have a securities-like structure.

>> No.17174078

bump

>> No.17174124

Imagine having your shit locked in a contract for one year and being unable to cash out.

>> No.17174301

What is the difference between SAI and DAI?

>> No.17174441
File: 3.87 MB, 8000x5583, 1570469042744.jpg [View same] [iqdb] [saucenao] [google]
17174441

>>17160085
>>>/pol/243232821
I made a thread exactly about that.

>> No.17174485

https://www.youtube.com/watch?v=mB-pdPaQNKA

>> No.17174910

>>17173021
You lose the penalty only

>> No.17174942

>>17160085
TIL defi means bitconnect business model. Sage

>> No.17175513

>>17174942
Go on

>> No.17175878

>>17160085

tokensets.com is also great if you want to have a algorithmically managed crypto portfolio. It can accumulate eth/wbtc slowly for you during bear markets. Honestly, ethereum's defi is going to btfo everything else in this space. You don't just hold your shitcoin hoping for a p&d...you can actually fucking do useful shit with it.

>> No.17175884

>>17160085
I notice the links you've supplied all relate to cryptocurrency.
What about distributed finance using conventional currency?

>> No.17176234

Garbage.

BSV is Bitcoin.
Suck my cocks. Fuck you OP. Fuck you ETH and dapp niggers.