DeFi Ecosystem - Discussion

I found this defi and I found it quite interesting because of how it works, in another network, and how cheap its gas is, in addition to the APY they offer
https://pancakeswap.finance/

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vouchforme.co is a project offering a 35% savings on insurance using teams.

Hi @amadeobrands,

What are your thoughts about xDai? As I could see, 5-second blocks and virtually ā€œfreeā€ transactions are features that might enable many transaction hungry applications (i.e. gaming?), if I understood right.
Thanks a lot for the course, by the way! It’s awesome how you lead us deeper and deeper in a light and easy to understand way! :wink: :clap:

Good day. I am baffled. I swapped 0x for 2.08 Aave on Uniswap and received the 2.08 Aave in my wallet but it shows zero value. Please advise…

xDai and Matic as Layer 2 Scaling Solutions become much required for the high usage of the Ethereum network leading to high transaction fees to communicate with these lending protocols and DEXs running on the network. In the future we may see more interactions with all these different protocols happening using Layer 2.

EDIT: I’ve come to realise that we already have EasyFi which are partnered with Matic and it’s a lending protocol providing nice interest on supplying liquidity. So already we are seeing new lending protocols emerging that are using Layer 2 from the start. It will be interesting to see if established lending protocols such as Compound and Maker go on to use Layer 2? What do you think, or is this too big of a change :thinking: @amadeobrands ?

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I checked your DeFi ecosystem docs and saw a CeFi section. So I’m missing one that I use and really like. Thats Celsius Network (CEL).

As for DeFi I recently saw a new project using a 2nd layer solution (Matic) to host it’s DeFi system on. It’s called EasyFi. Easyfi.network.
Also is listed in the Binance Innovation Zone.

Xdai chain - plus other second layer scaling solutions

Honeyswap on xDai network. I’ve been staking WETH and HNY in a Liquidity Pool then taking the Liquidity Pool tokens and staking those @ hny.farm in order to harvest HNY. Insane apy @ 120%+ for as long as the honey pool lasts. I’ve also been doing a bit of WBTC trading. Recently took out all my liquidity because I noticed WBTC drop $1,000, bought a lot, waited for it to go back up $900+ then reinvested original capital + profits back into WETH and HNY Liquidity Pool and hny.farm for more HNY harvesting at a higher rate.

I’ve had a look at the spreadsheet which includes everyone’s suggestions and I don’t have anything to add except I really hope that DeFi does disrupt the current system we have and removes some of the control of the financial markets.

However, my main concern is that it is not easy for early adopters to get involved now. I started hearing about DeFi this year but the learning curve is high and you need time to do that. Many people need to work two or three jobs to keep their heads above water which means there isn’t time or they’re too tired to sit down and study. This is what could enable the existing financial institutions to take over the DeFi space and we all end up in the same situation we are in now. I really hope this doesn’t happen.

In the meantime, I’m excited about what DeFi is doing and hope I’ll feel comfortable using it soon. I’m still learning.

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Hi Amadeo,
just followed your defi course. Very interesting topic as it might completely replace banking and insurance after ā€˜the great reset’ :slight_smile: What are your thoughts on xdai, matic and other L2 chains and their impact on defi?
Kind regards
Edwin

I think you should talk about Radix (https://www.radixdlt.com). This looks like a new and interesting up and coming coin. The website is very thorough and outlines the plan, vision, steps taken, and is very open. page 5 of their White paper offers more information as to the problems they see in Defi and how they will solve them.
(https://www.radixdlt.com/wp-content/uploads/2020/08/DeFi-Whitepaper-v1.0-3.pdf)

What sticks out to me is how Radix wants to avoid smart contract app hacks, exploits, and failures by using a Radix engine. I am not too knowledgeable in this area, but Radix wants to put ā€œguard railsā€ on smart contracts to reduce congestion and demand on smartcontracts through the network.

I am not sure, but this would be an interesting add into your video. Please explain why this would be feasible and worth our time, thanks Professor! :smiley:

Hi,

To be honest, I’m finding it difficult at the moment to find anything further that hasn’t already been offered by others.

I’m totally new to DeFi so I have got plenty more to learn - which of course I’l continue to do.

What I do find fascinating though is the apparent level of growth in the sector just in 9 months since March!

Wow!

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YF Link - It’s a fork of YFI (Yearn Finance) but it accepts LINK (Chainlink) tokens instead of yCRV (yCurve) tokens. The token provides liquidity to LINK pools in different DeFi protocols such as Aave, Balancer and Curve Finance. They’ve also created an Automated Market Maker (AMM) called ā€˜Linkswap’ which will be community-governed and whose goal is to capture value for LINK holders.

Hello,

Any one know how to bet on dice2win for under .5 ETH? I see people are betting for under .5 but it’s impossible on their website. I want to know how I can do that using the smart contract. Also, I want to know how to remove or disable access to daps that has given permission to access my Metamask. Your help is much appreciated. @amadeobrands

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Bancor is not new, but they recently implemented Impermanent Loss protection with version 2.1. I would love to hear your opinion/thoughts about this

One defi project I am a big fan of is https://melonprotocol.com/

It allows everyone to start their own fund within minutes for a small gas fee. Compared to the ā€œold worldā€ where you need a lot of money to set up an asset management firm this is a game changer.

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I didn’t see https://etherisc.com/ in the spreadsheet. It looks interesting for the future because they are still working on lots of new insurance projects. Do you think that it could be something that goes main stream in the future? I live in Canada and we pay lots for insurance, so it would be cool if in the future it could be competitive here. Thoughts?

I am a big fan of Polkadot…its engineering team and platform are top notch.

Hi I’m not seeing it :slight_smile:

I like it! And their security protocol is reassuring.

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