DeFi Ecosystem - Discussion

Defi 101 Course
#1416

Im trying out Nominex since a few days.

An exchange with its own NMX token (CMC#2786) and very special features:
You can provide liquidity to the NMX/Usdt pool, which gives you NMX-LP token.
These NMX-LP token can be staked to farm new NMX. There are different types of bonuses to raise your income:

HODLE
the longer you stake in one go the higher your daily reward.
The rate the bonus is getting bigger is crazy like hell so everyone is incentivized to hodl 2 death.
This could be the reason for NMX to still rise in price even in these bearish days.

TEAM FARMING
They have a affiliate program so that you can farm in teams with others which gives you even more bonus NMX.

Overall the gains you make are to crazy to be true. Looked into it as good as I could but couldn’t find anything really suspicious besides the unbelievable high APY.
They are not fully regulated so you don’t need KYC.
I think its a high risk investment but I still want to give it a try. Please make your proper researches.

Website: https://nominex.io/
Whitepaper: https://nominex.io/docs/nominex-whitepaper.pdf
Affiliatelink: https://nominex.io/?r=104505 :stuck_out_tongue_winking_eye:

#1417

Same here :wink:
I stopped liquidity providing. DFI staking gives higher returns (…at the moment) and one can avoid the risk of impermanent loss

#1418

I thought so as well but learned that the APR is better than APY in a video. Not sure if I understood correctly so pls have a look at it :+1:. Impermanent loss will be reverted when DFI outperforms BTC again

#1419

It would be great to see mentions of Defi projects that are in chains other than Ethereum too.
PancakeSwap is a great example of a DEX in the BSC Mainnet.

Also layer two solutions like Polygon have options like QuickSwap which are quite interesting.

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#1420

Have a look @ the two mentioned before :grin:
DeFi-chain wants to bring Defi to the bitcoin blockchain and Nominex is running on bsc as well.
Have fun :slight_smile:

#1421

Thorswap: Multichain DEX

dapp webiste:
https://thorswap.finance/

app link:
https://app.thorswap.finance/

It pairs all the different digital assets with RUNE coins that exist on the thorchain (hence “native” RUNE coins, and not token)

You can convert your BEP-2 RUNE tokens directly to native RUNE coins on via the thorswap interface.

Unfortunately, not many wallets support this new blockchain yet. (trustwallet does already).
Ledger is still currently reviewing the thorchain app but I expect that to be done not too long from now.

#1422

I think that My Neighbor Alice should be included in the overview. It is a quaint little game that has a strong DeFi element to it with an in-game economy. I think that DeFi games are very important, as they will help make blockchain tech mainstream.

#1423

Kyber Network (KNC)
Seamless Token Swaps, Anywhere

#1424

@amandeobrands

As response to the homework, Defi Ecosystem Discussion Overview.
I will petition to add this new defi project being built on polkadot

Name: Acala Network
Project Description: Acala’s all-in-one DeFi platform to help you stake, swap, borrow, lend, earn, and more – all with micro gas fees.
Website: https://acala.network/
Admin key info: I am assuming owned by the user…? (how can I very this ?)
Tech Stack: DOT
source code: https://github.com/AcalaNetwork
whitepaper: https://github.com/AcalaNetwork/Acala-white-paper

Acala explained
Acala is the all-in-one DeFi hub of Polkadot. Acala is an Ethereum-compatible platform for financial applications to use smart contracts or built-in protocols with out-of-the-box cross-chain capabilities and robust security. The platform also offers a suite of financial applications including: a trustless staking derivative (liquid DOT), a multi-collateralized stablecoin backed by cross-chain assets (aUSD), and an AMM DEX – all with micro gas fees that can be paid in any token.

#1425

Yieldly (YLDY) presenting the first token launched, as well as the first DeFi suite on Algorand network:
https://yieldly.finance/

#1426

Sundaeswap and Cardax, 2 new dex’s that will be launching very soon.

#1427

yearn.finance

Yearn.finance uses automation to help users maximize their profits from yield farming. Yield farming is the practice of earning rewards and interest on cryptocurrencies by searching across lending marketplaces for the best interest rates and deals. Yield farming is a complex process, but yearn.finance uses automation to simplify the process of yield farming for those who are not as tech-savvy, allowing them to benefit from the process of yield farming without any of the stress involved and technical knowledge that is usually required. Yearn.finance set out to make decentralized finance and the process of yield farming easier for the average investor.

Website: https://yearn.finance/
GitHub private: https://github.com/iearn-finance
Github Public: https://github.com/yearn

#1428

Since you mentioned Polygon:

https://polywhale.finance/

#1429

I did not see Chainlink in your table or Pacakeswap.

Chainlink is a service that facilitates other projects with oracles.

Pancakeswap is an automated market maker decentralized exchange.

#1430

Have you ever heard about the DeFi project CAKE? its founder is Julian Hosp, and he seems to be very intelligent, but also a bit suspicious in my opinion. Can you tell me your Opinion about the code CAKE is running on, and if it is safe in your point of view. As I understood the only risk of Liquiditymining via CAKE is the Dfi coin to collapse, which is not very likely I think. - Is this true? This site is advertising with a 125% interest rate per year.
I hope we will learn also about liquidity mining in detail, and also about arbitrage trading in this context. :slight_smile:

#1431

How would I be able to short a crypto asset using the DEXs or DEX aggregators shown?

#1432

Solana comes to mind, huge things happening there at the moment, such as SAMO - SamoyedCoin, SOLAPE - SolApe Token, CATO and AURY - Aurory.

Equally, the Polkadot ecosystem is abuzz with as many projects.

#1433

Arweave (AR) is a DeFi project that should be in our DeFi Ecosystem overview. Indeed, Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as “a collectively owned hard drive that never forgets,” the network primarily hosts “the permaweb” - a permanent, decentralized web with a number of community-driven applications and platforms. The Arweave network uses a native cryptocurrency, AR, to pay “miners” to indefinitely store the network’s information.

#1434

Cryptex Finance tokenized Total Cryptocurrency Market Capitalization into TCAP token that gives holders real-time price exposure to this key metric.

https://cryptex.finance/

#1435

I’ve been a active user of the DeFi’s space for over a year. I saw the ecossystem changing fast in the front of my eyes!
Starting from “all protocols” in Ethereum to the expansion to layer 2 solutions (BSC, Polygon, AVAX, etc). But I believe this was just the starting for the DeFi space, and if we really want the financial Lego to take the next step the space needs true interoperability with other chains!

With that in mind, I believe that Osmosis (and Eremis - that uses Gravity DEX) should be included in the DeFi overview. Besides being in their early stages, and being Decentralized Exchanges I believe those project are the step in right direction.

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