DeFi Ecosystem - Discussion

Defi 101 Course
#993

Name: mStable
Category: Asset
Website: https://mstable.org/
#30 on defipulse.com
On ETH blockchain
33.6 million USD locked
“mStable is a protocol that unites stablecoins, lending and swapping into one robust and easy to use standard. Meta is the governance token of the mStable ecosystem that governs the mStable protocol.” -https://messari.io/asset/meta/profile

I’ll be honest, I’m not 100% confident in my understanding of the vocabulary across defi as I don’t have a tech background or any previous knowledge of the space. However after reading about mStable it appears that their goal is to solve the current problems with stable coins (outlined as “significant fragmentation in same-peg assets; lack of native yield when it is being increasingly demanded by users; lack of insurance against permanent capital loss”. ) and allow everyone to trade stable coins at a 1:1 ratio.

#994

Curve Finance is a decentralized exchange liquidity pool on Ethereum designed for extremely efficient stablecoin trading. Curve allows users to trade between stablecoins with low slippage, low fee algorithm designed specifically for stablecoins and earning fees. https://curve.fi/

#995

In the spirit of becoming more active with actually using crypto, I wanted to send my girlfriend $7 I owed her. I wanted to use ETH and just send it from our Coinbase accounts. However, the gas is SO expensive it would cost me more in gas to send her the money than the actual amount I was sending. I believe the total to send $7 was going to be $18!

How long is this sustainable? In the ETH101 course Ivan mentioned that Web 3.0 is allowing the developers and miners of the platform to reap the monetary benefits, as opposed to a system that allowed the giant tech companies that have benefited from the developers achievements of Web 2.0. However, if the gas fees are going to be this expensive, I strongly believe it will deter people from using it.

I read an article mentioning some ETH miners are upset with the upcoming EIP 1559 update. The update would reduce gas fees from what I can tell.

https://www.coindesk.com/ethereum-mining-pools-threaten-contentious-update

I assume these are some of the growing pains of a new technology that is this disruptive, especially in the world of DeFi. Any insight would be appreciated. Thanks!

#996

Hi Amadeo thanks for the great job you did on the course. I appreciate it so much :+1:.
I will like to recommend that we include ARGENT: https://www.argent.xyz/ . in the course presentation. It is a great and made simple interface for a beginner to interact with many DEFI Dapps, all in one place within their smart phones.

#997

DeFiChain (DFI) is a new defi chain that instead of being built on ethereum, is actually built on top of the Bitcoin blockchain. Its a relatively new project that brings non turing complete contracts to the Bitcoin ecosystems, allowing greater payment functionality.

#998

Metronome aims to create a protocol that can transfer value not just inside of a single blockchain, but also across different blockchains. Enhancing the decentralized nature of cryptocurrencies, the governance and community of Metronome will be open-source and autonomous.

#999

88mph - https://88mph.app/

1 Like
#1000

SuperRare is a decentralized marketplace to collect and trade unique single edition digital artwork.
https://superrare.co/

#1001

How about Aave Maria, It looks pretty good.

#1002

I hope this is correct as I am not 100% sure that I have understood what you require.

A Defi project that needs to be in our Defi Ecosystem overview:

Name: Stake.Fish
Category: Staking
Website: HTTP://Stake.fish/en/
Admin: ?
Tech Stack: ETH
Github repo ?
Whitepaper doc: ?
Input crypto: ETH, Tezos, Cosmos, Polkadot, Cardano, Kava, Band Protocol, Kusama, Iris Network, The OAN, Edgeware, NEAR Protocol, Oasis Labs, Solana, Chainlink, etc.

Comments: A lot of future projects have already been identified by Stake.fish.

#1003

Flare Networks - A reason I have taken this course

#1004

I am probably discovering warm water at this moment, but I really like and use
Thorchain $Rune
https://docs.thorchain.org/
https://chaosnet.bepswap.com/

Still in Beta but near completion and on their way to be fully decentralized.

#1005

I may be late to the party, but do you have any thoughts on https://coinloan.io? I like the seemingly simple interface.

https://coinloan.io

1 Like
#1006

CHAINLINK
Category: Infrastructure
Website: https://chainlink
Admin Key Info
Tech Stack: Ethereum
Ghithub Report: htttps://ghithub.com/chainlink
White Paper: https://link.smartcontract.com/whitepaper
Input crypto: Link.
Problem they fix: Third layer interface in the Defi.
Comments: Cryptocurrency technology is one of the greatest invention of our time.
It’s a privilege to be learning about the blockchain technology at such infancy stage. I’m enjoying every part of this course.

3 Likes
#1007

What about Avalanche (AVAX)? I’ve heard great things.

I’m also watching THETA for decentralized video streaming.

And Enjin (ENJ) for gaming?

2 Likes
#1008

That is super interesting.

1 Like
#1009

Nice to see defi and art come together! I’d like to work on a project like this!

1 Like
#1010

Hi Amadeo,

I am playing with yearn finance here to see if I can understand the functions under the hood.
So I deposited .1 USDC to the USDC vault (version 2) successfully (it cost me almost 10USD :laughing:).
Anyway I looked at the etherscan trx to see the movement of the funds to the usdc vault smart contract : https://etherscan.io/address/0x5f18C75AbDAe578b483E5F43f12a39cF75b973a9#readContract

I had assumed that I could then use the ‘readContract’ panel and read the balanceOf function to check the value of deposits associated with my public usdc address, but whern I execute it , it returns ‘99750’

so I am a bit confused how that value equates to .1 usdc.

When the yearn UI displays my correct deposit, is it pulling this value a) from a rest api b) from block chain via web3
a bit confused :frowning:

#1011

ok I see now that when I call the decimals function I get 6 which means it was .09975 USDC. While I kind of know that USDC ‘hovers’ around $1, I am still curious about the rounding

#1012

Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties. This mechanism solves the liquidity and slippage issues experienced by DEX’s. Synthetix currently supports synthetic fiat currencies, cryptocurrencies (long and short) and commodities. SNX holders are incentivised to stake their tokens as they are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange, based on their contribution to the network. It is the right to participate in the network and capture fees generated from Synth exchanges, from which the value of the SNX token is derived. Trading on Synthetix.Exchange does not require the trader to hold SNX.

Total value locked : $1,883,680,795

1 Like