What is the best/safest/most liquid way to get BTC staked in DeFi at the moment? RenBTC? WBTC?
2 Likes
Thank you for a very nice course!
Question on Risks in DEFI and possible scenario:
Is there a risk involved when (if) the bubble comes and everyone fomo in to the market, (moon and all that) then suddenly everyone wants out and put their assets in Dai during the tumble when Eth and everything else bottoms out?
Will Dai (and Maker) stand for it and is there a reasonably safe exit stategy for such an occation?
2 Likes
“Thank you for reading and I hope someone could clear my head on those items.”
Well spoken Pazzi. I needed to hear that. I walked away from the computer for a couple of days at this same point and could really articulate why. I scrolled down and saw your post and got my answer.
I don’t think those items need to cleared from your head. As a matter of fact, they need to be at the forefront for all of us as we design a system for the average person.
Thanks for the post because it helped me refocus!
1 Like
In Switzerland FYOOZ is making a lot of noise. The most amazing think is that they got approval from the Swiss financial watchdog FINMA.
1 Like
Thank you @amadeobrands for the amazing content. For a beginner is hard to understand how the dots are connect. Keep good work!
1 Like
Hi Amadeo,
Just found out about
What do you think about it?
1 Like
Hi Amadeo,
I noticed that Kyber Network is not on your list!
Name: Kyber Network
Category: Liquidity solution for the DeFi sector
website: https://kyber.network/
Tech Stack: ETH
Market Capitalization: $298,066,760
Kyber Network has built its product to solve the liquidity problem and is aiming to become a leading liquidity solution for the DeFi sector.
Kyber on-chain liquidity protocol that lets users exchange ETH and different ERC-20 tokens in any decentralized application. This helps to connect different projects’ ecosystems and make isolated tokens useful in a wide range of use cases.
Transactions on Kyber are fully on-chain and thus fully transparent and verifiable.
It also facilitates many different kind of crypto services such as tokens swapping, exchange and trading , decentralized finance and also E commerce payments. The project is a really strong player within the Ethereum ecosystem, and its set of smart contracts is one of the most used on Ethereum today.
This is definitely one of the Defi app that we will see more and more people discovering and using it in the near future and thus I highly commend to put ut inside your list!
1 Like
They changed the shapeshift and I liked the old one before, the new one is very limited. The old one more expansive.
1 Like
Here’s one that seems to follow core philosophy to a tee.
Instadapp
It supports multiple protocols.
1 Like
Hi,Defi is great and all but the ETH network cost (gas price) is becoming prohibitive. Paying 3-6% for the smart contract might be ok for the whales but i dont see the normal joe taking his “money” out of the bank to be hit with 3% fee to buy crypto (average - and i know you can use Crypto.com and so on but for the newcomers coinbase will be there safest choice) and another 3 % fee to do any smart contract. Im all in for cardano and other, hopefully cheaper, solutions but at this moment ETH network is just dragging me down with the fees. Anybody got “some juicy, massive” tips on how to avoid these disgusting fees?
2 Likes
This is a question I would like to get an answer too to be honest, I do think that is the same case with derivatives and even the banking system. What if people take out all the money out of the banks at the same time? Not enough money supply to liquidate debts, this is why I think deFi is a risky game because it is trying to recreate fragile financial instruments.
But I am no expert, please @amadeobrands give us your point of view.
I also saw that the SEC & CFTC will put eyes into the matter really soon.
https://www.cftc.gov/PressRoom/PressReleases/8201-20
“The Commodity Futures Trading Commission today issued an order filing and settling charges against respondents Plutus Financial, Inc. d/b/a Abra of California, and Plutus Technologies Philippines Corp. d/b/a Abra International of the Philippines for entering into illegal off-exchange swaps in digital assets and foreign currency with U.S.“
“
The CFTC’s order finds that from approximately December 2017 to October 2019, the respondents accepted orders for and entered into thousands of digital asset and foreign currency-based contracts via a mobile phone application. These contracts, which constituted swaps under the CEA, enabled customers to enter into financial transactions, with the respondents acting as the counterparty, to gain exposure to price movements of over seventy-five digital assets. By entering into these contracts via their app, respondents violated Section 2(e) of the CEA, which makes it unlawful for any person, other than an eligible contract participant, to enter into a swap unless the swap is entered into on, or subject to the rules of, a board of trade designated as a contract market. Additionally, in soliciting and accepting orders for these contracts, the respondents illegally operated as an unregistered futures commission merchant. “
3 Likes
Hi Amadeo,
Thanks for making defi so much more easier to understand and your article provided has helped me greatly.
While looking for new defi projects, bumped into one which seems to be causing a stir on the EOS eco-space.
Nice to see defi on other blockchains
1 Like
Thank you for such an informative course and providing all of the reading materials.
Piña is the app to look out for! It allows you to use your favorite tokens as payment at your favorite service establishments while also rewarding users and businesses for valuable feedback and services using Proof of Service protocol. Think of Yelp/Yellow Pages with rewards and touch-less services/payments through the app on your phone. Currently in development. 
1 Like
Hi All, can uniswap conect to my Ledger wallet?
1 Like
I think this is the real power of this marketplace and the reason that whales are dominating the space. This marketplace gives crypto traders access to the kinds of tools that were only available to banks with special permissions from the government in the past. We now have access to what are essentially prime rates. We can take our hard currency that has already been mined and essentially put it to work and make a profit on the work product.
This has been the exclusive domain of banks with special relationships with the government and reserve banks up to now.
1 Like
How about looking at what makes AAve’s Lend token unique? After the 1200% pump this week it might be worth considering.
1 Like
It is all still a experimenter.
But you can model this in the code the supply/demand is public and you can see what happens.
Since time moves per block.
1 Like
Hi Amadeo and everyone,
First of all, thanks to Amadeo for this DeFi 101 course! I’ve learned a lot going through your lectures and reading materials, but I’ve also realized at the same time that there is much, much more to learn. I think the difficulty lies in my lack of knowledge in conventional money theory and experience in finance under CeFi (e.g., how the lending market works, how to trade derivative products, etc.), so it’s hard for me to fully appreciate many innovations in DeFi. To be honest, I don’t think I truly understand more than 50% of the materials presented by Amadeo … Does anyone have suggestions for crash courses on related matters to help me understand the financial markets?
With the difficulties said, I think the most easily understood financial structure is the “money exchange.” I read about a new DEX platform created by the team behind 0x – Matcha.
https://matcha.xyz/
https://matcha.xyz/blog/say-hello-to-matcha
I think the selling point is a more user-friendly addition to the many DEXs. I think it’s still in beta and may be worthwhile to be included in the ecosystem overview.
Thanks,
Eric
2 Likes
i think REN, yes. but not sure about safest lol
1 Like
take the course Financial Markets from Yale university on Coursera. At least take whatever you think is related here. It has helped me a lot personally very much.
1 Like