DeFi Ecosystem - Discussion

Defi 101 Course
#123

Agree! Just like Binance CeFi. Easy to use staking and lending but like you said “not your keys not your crypto”… :face_with_raised_eyebrow:

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#124

Do you think REX on EOS is DeFi project and if it is, whats the different with the one build on ETH?

Thanks!

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#125

Hello everybody,

I’m trying to understand a little what DEFI is all about, but I have a small question, of something I don’t understand:

So the question is about Collateralized Loans:

Why would someone borrow money, if he has to lock up more money than he can borrow?

I still don’t get it.

Do you also earn interest on the money you have locked up?

Thanks for clearing me on this.

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#126

hey check out lend.me missed in the course. But i think its a cool project to include

#127

Question: How developers getting paid if they create decentralized application? I can’t figure out the monetary incentive if the protocol works by itself. Do they issue a token? Or do they put some kind of fee to pay for development. Is it works like regular startup?

#128

Enjoying the content and how the Legos of DeFi work together to build and engage the community in the ecosystem. Thanks!

#129

For trading and arbitrage opportunity …

2 Likes
#130

I was thinking you could use the money for projects that are guaranteed to earn profits and your crypto will be in that space for upside potential :rocket:

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#131

That was a great lesson. I did not know how far the space had progressed. I am going to use some of my eth to loan out using 1inch.exchange -> DAI -> zerion

I will not do much, merely for experimental purposes since the obvious downside is that the eth could increase more than the interest earned on the DAI meaning when you convert back you actually would receive less eth than you originally converted. Great if it goes the other way thou.

Sorry, just realized that zerion allows me to loan using ETH which negates the above risk

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#132

Lending will still be a viable option for many, as ETH 2.0 staking will require 32 ETH to be locked up. Locking Dai in an account with DSR has no real minimum, so long as the collateralization ratio min is met.

Reward times are another huge advantage. As I understand it now, the ETH staking will only produce rewards if you validate a block. Selection is semi-random, whereas DSR is set. Staking ETH has no guarantee of returns.

You will also have to run a validator node to stake ETH. For ETH miners like myself, having hardware connected to the network with as close to 24/7 up-time as possible is not an issue, but it isn’t viable for everyone. With Dai, you will only have to lock up your assets. ETH staking requires locked funds, running a node, and a little luck.

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#133

Nexo is a well-known CeFi platform for lending and borrowing that includes insurance on users’ assets. They are considered CeFi since users’ assets are held under Nexo’s control. I hope Nexo creates a decentralized platform at some point…

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#134

Hello Amadeo,

thanks for your interesting course. I finally got to understand and see the use cases of DEFI.

What would happen with all this DeFi ecosystem if stable coins get heavily regulated or even banned?

Thanks for your reply,

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#135

Hi,

I am kind of “overwhelmed” on the lessons reading suggestions, they are really good but took me a lot of time because I wanted to read them all completely.

One of the presentation links url is not setup correctly in this chapter https://academy.ivanontech.com/products/defi-101/categories/2382179/posts/7961549
[https://docs.google.com/presentation/d/1pbGDWML518TS7FwDA_KaJ0hDEqPHS6JuodqAcqn3Hjs/edit?usp=sharing](https://medium.com/totle/building-with-money-legos-ab63a58ae764)

I think most think DeFi is 99% on ETH, but what about EOS DeFi Dapps ?
staking EOS I guess it is possible in REX , is not REX a kind of DeFi app in EOS?

Thanks

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#136

From @ivan own presented this several times, explained kinda like this: “you can lend bitcoin or etherium that value lot more now than when you bought, but if you liquidate that for fiat in an exchange you have to pay tax to government/IRS if in your country you need to declare financial gains for paying taxes, if instead you borrow DAI then you supposedly do not have to declare to the tax authorities/IRS…”

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#137

Thank you for the correction will change that :slight_smile:

Here is the correct link:
https://docs.google.com/presentation/d/1pbGDWML518TS7FwDA_KaJ0hDEqPHS6JuodqAcqn3Hjs/edit?usp=sharing

2 Likes
#138

Hey @amadeobrands! What’s your opinion on liquality.io and inter-blockchain swaps?
You teach us about DeFi and all of a sudden I pass hours discovering new amazing protocols! :slight_smile:

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#139

@amadeobrands https://instadapp.io/ is another interesting one. Yet to explore if Indian rupee is allowed with this india based startup

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#140

new projects in defi space
I found one that is brand new and very exciting. It took all day to find, quite an adventure.

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#141

https://eosdt.com

I recently heard a podcast talking about DeFi on the EOS mainnet. EOSDT is a stablecoin that is used in similar ways to DAI. I beleive ‘equilibrium’ is similar to MakeDAO in that case, but I haven’t wrapped my head around it yet.
How does DeFi on EOS compare to DeFi on Ethereum? Is DeFi viable currently on other platforms as well?

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#142

@amadeobrands As if to emphasize the risks you discussed https://dailyhodl.com/2020/04/20/crypto-hackers-want-to-negotiate-after-stealing-25000000-in-ethereum-and-bitcoin-pegged-assets-from-defi-protocol/

I assume this falls under the category of a Smart Contract risk?

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