DeFi digital finance stack - Discussion

Yes there will be many … I hope we can all lose maximalistic feelings and stay objective …

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I like exploring DeFi that are also open to connect with CeFi. I don’t believe that these two should battle each other for life. Do you know some companies who do this?

Another Question:
Should there not be a search engine were you can type in a DeFi company and see were its at in the TRUST matrix? This saves a journey of finding out about the company and it makes these companies do their best to become more Trustworthy.

Thanks for another fascinating lecture. Ik hang aan je lippen :sweat_smile:

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Hi
I know wait for for DEFI deep dive 3 lessons did only 2 and it took me 3 days…but really interesting when you start to understand :slight_smile:

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My post might not exactly be in the same spirit of the course, but one detail struck me as someone who is relatively new to the Defi space. In the demonstration, an insurance user must manually file a claim if coins/tokens were lost of a smart contract failed. To me, an ideal service would detect a loss on the network and trigger a claim payout automatically. In this case, wouldn’t Chainlink be an ideal bridge between networks?

2 Amazingly good questions @Omar
I would love to build a DeFi/CeFi bridge as a personal project I was working on something like this.

I see added value to embed a bridge where we can also pull in products from more centralized exchanges into the DeFi ecosystem (DeFi/CeFi Bridge). Starting with pulling in CeFi products to the DeFi ecosystem and visa versa would bring a lot of unknown and exiting outcomes. From a technical side it is clear that Maker DAO is the foundation of the DeFi Ecosystem and sets the trend and direction forward. We see that the first DeFi building blocks that were started around Maker DAO/Compound.Finance like chai.money that make it possible to wrap Dai into an ERC20-CHAI. Also we can look at RToken Ethereum Contracts that pick a similar approach and document their work flow in their Github page. Looking at the POC we want to make we need a ERC-20/ERC-721 combination. An interesting option seems ERC-721o inspired by ERC-721x in combination with the opium protocol seems a good option for a business and technology angel. All these options will need to be explored and for the POC we need to first make a proof that we can have a centralized option wrapped in a token and then take it forward from that point.

So I still want to build out this POC.
If anyone is interested DM me.

For you’re second questions I would also say yes would be great :smiley:
Build it :wink:

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Yes correct there could be an Oracle protocol that can trigger this.
Chainlink is supper overrated right now in my view.

Most likely there will be an other protocol that does it much better then Chainlink that will become the standard for this … But as for now we still have an oracle problem …
Why do you think these projects do not jet integrate automatic payout etc?

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My guess is there are 2 main factors limiting automatic payouts. First would be integration, perhaps the ‘Lego’ doesn’t fit quite so neatly. And the second variable is the human review. Often times payouts are based on human interpretation in certain areas of insurance. An automatic denial or payout of a claim in which the opposite result should have been the outcome may still be possible in this stage of development.

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Hi yestom

For point number one, it will certainly be interesting what and how they will handle the change over or maybe additional option of CPI peg with the dollar peg. It needs modelling assess the pros and cons.

Your Point 2 is interesting, I agree the currency printing (to be blunt) doesn’t make sense for now. I like the gold and add to that silver backed pegs, however we then have the situation where we don’t physically own the gold or silver because they held by a central vaults/parties and things can be confiscated, basically not in our hands. That brings me to the idea that hopefully one day long term we can use Bitcoin As stable peg, add to that gold and silver as more riskier peg option.

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How to make the ERC-20 an oracle? because the token would need to track outside Data, at the momement I am not sure how this can be done? perhaps someone knows it? but at the moment that capability is limited to outside oracles that observe the chain and then react. What you are describing is something within the chain and even within each wallet having the ability to observe the actions of the wallet and to keep a tab of that data, Any way to do this and you have really got a good thing, , My guess is that it may be possible if you preload the Contract with funds and then use the funds to actually perform the Data snapshot, and further tx, however the initial and subsequent transactions initiation also would somehow require as well some timer or oracal

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all pegs should and probably will go to Bitcoin, just my opinion, Bitcoin is the Standard

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That’s what I was thinking…

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Veritaseum had some trouble with the SEC a few months back and I’m not sure how that effects the platform in its current state.

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I’ve had a bit of trouble with this for a while… Can someone give me a brief distinction between Ampleforth and Algorand? Thanks in advance.

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Veritaseum is a scam watch out …

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Thanks for the heads up on this @amadeobrands.

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I think Dharma is quite interesting. In it offers
Fixed term loans with fixed rates. Could be a fairly good passive income.

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Hi Amadeo,

Thank you for sharing your knowledge regarding defi in defi101.

I was wondering a few things and I would love to hear your take on them.

  1. Ethereum Transactions are in my opinion not incredibly fast, and we continue to build massive amounts of smart contracts on the Ethereum blockchain. Wouldn’t this clog up the network in terms of mass adoption as well as seeing a new spike in ETH and GAS (just as it occurred in 2017)?

  2. Regarding compound interest rates. By staking our Ether in various protocols, interest rates appear significantly higher compared to standard banks. However, as we are locking up overcollateralized ETH, we are not receiving interest on our full 100% stake, are we? Depending on the overcollateralized rate, could it be that we only receive interest on e.g. 50% of our total stake? In such a case, the interest rates posted on various dApps, are actually half compared to our total staked amount?

  3. Casinos such as the etherdice, along further more future dApps, would in my opinion need to have a possibility to manage immediate and near zero transaction costs to be able to compete with the current monetized world. For ex, putting a quarter dollar in a slot machine as compared with your minimum 0.1 ETH dice stake which is a significant bet. Is such a possibility ever to occur on the ETH blockchain or would we need to switch or fork ETH to be able to adjust to such a change?

Thank you in advance! :money_mouth_face:

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Happy to hear you liked the course :slight_smile:
Sure thing that there are some ongoing issues but I would always have trust before the performance …

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The Tokens erc-20 was confiscated as far as I know, at least the ones Reggie Controlled. Any case the Veri token is just a standard erc-20 with no “Real” features. Just a silly token, the business in the back was Supposed to be something to trust. But… trust the Code. I say

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I see that tron blockchain is pretty much copying and pasting in some aspects for defi, but they do also have some decent dapps for example bankroll.network that has some real value to it and is over a year old. In general, I think this technology opens up access to a lot of people, however there is going to be a learning curve for most people to understand what even the equivalent centralized systems are and how they work to even appreciate what defi opportunities bring. I think of this kind of like giving my grandma a smartphone when they first came out.

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