Stablecoins!

[Anonymous No.25372969]

>Just earn 15% APY on your stablecoins and hope you don't get rugged by USD monetary inflation, the stablecoin issuer/protocol, or the defi staking contract, bro.
>Hold stablecoins in my protocol/app bro, don't hold BTC. Just trust me bro.

[Anonymous No.25373074]

>>25372969
The model has definite potential, and I would bet my soul on decentralized finance/lending being the way of future. But you're also 100% right and I find it almost impossible to trust any current staking/lending platforms. We need some way to ensure people are held accountable. Unironically, assassination contracts would solve this problem almost instantly, but there are obviously other issues with that...

[Anonymous No.25373165]

>>25372969
Whoever they are the picture needs to be killed

[Anonymous No.25373181]

>>25372969
>>Just earn 15% APY on your stablecoins and hope you don't get rugged by USD monetary inflation, the stablecoin issuer/protocol, or the defi staking contract, bro.
>>Hold stablecoins in my protocol/app bro, don't hold BTC. Just trust me bro.

[Anonymous No.25373212]

>>25373074
People are still mentally stuck in the old paradigm of valuing your portfolio in USD.
If you denominate the average staking APY of the big pools in BTC it has been negative since October.
>negative BTC APY bro!

[Anonymous No.25373265]

>>25373212
>earn negative BTC APY with extra layers of risk compared to holding BTC in cold storage!

[Anonymous No.25373322]

>>25373212
Well, ya, but that's not really a problem with the business model in itself. If you compare bitcoin to almost anything since October, it's almost guaranteed to be negative lol, that's kind of a bad example.

Traditionally, if done correctly, lending and creating debt, or middle manning people and collecting a fee (what these staking platforms almost all revolve around) is about as safe an investment as investment gets. Btc has lost 70% of its value in under a month before. Lending will NEVER lose 70% of its value in a month.

The stability of fiat is a separate issue, but you're discounting the effect of compounding your gains by keeping them in crypto. You don't have to cash out your returns in usd.

[Anonymous No.25373486]

>>25373322
Most of the APY is derived from selling governance tokens for inflated prices in a bull market.
If we're in a bull market, BTC is going up and outperforming insecure USD tokens + insecure governance tokens.

[Anonymous No.25373541]

>>25373486
massively outperforming them if you adjust for the added risks of USD monetary inflation, counterparties/custodians, oracles, and smart contracts.

[Anonymous No.25373546]

>>25372969
There's a reason depreciating assets have a high APY. When there was a bug reported in DAI the lending APY went to like 50%.

[Anonymous No.25373591]

>>25373322
>Traditionally, if done correctly, lending and creating debt, or middle manning people and collecting a fee (what these staking platforms almost all revolve around) is about as safe an investment as investment gets.
Shit creates periodic oscillating instabilities aka boom and bust cycles.
During the bust phase, the loan business is as shitty as it gets.

>Btc has lost 70% of its value in under a month before. Lending will NEVER lose 70% of its value in a month.
That is what is called default.
Inb4 the loans are secured
Secured by BTC and other Crypto
>Btc has lost 70% of its value in under a month before
Collateral is then liquidated deflating prices even more and orderly liquidation on all these platforms only will work up to a certain point.