This course piqued my interest on the state of the economy. The pandemic just exposed an already unstable economy. I am hopeful that these projects will continue to evolve and adoption eventually takes place. It will be a viable option that will allow us to gain control of our finances.
I believe we are all on the right side of this financial "revolution".
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Can you tell me what you like about it?
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Yes 
Please check out:
It is important to understand there will be new Free Imperial Knight that will stand up and make change that is needed.
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What I like about Arkropolis is that you can take undercollateralized and it should be on stop shop. where you can borrow, lend, save, invest and DAC.
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I checked out Swap Rate but I will have to try that once I get some more cash. It seems really simple. I tried Aave again. I have some KNC as a lending account. I can use as collateral and borrow another asset but the fee was $18 dollars. I wish I would have used a stable coin instead - because, KNC started going down in price so I am still not sure what happens if it goes up. I guess it can get liquidated as well?
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This is a nooby question but is it possible to use BTC some where in DeFi. I tried Celcius which is not non-custodial but because I live in the U.S., I was not allowedā¦
Diving deeper into Defi I find a comfort zone in Insurance and its potential relationship with music. Insuring Digital copyrights.
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Ren is an interesting Defi project that allows you to use BTC with Defi
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Hi @amadeobrands
at the moment Iām looking on how to teach defi to ordinary people
the way that they can easily understand,
because as what I notice it will be the basic concept, the fundamentals, and the technicalities that hinders the ordinary people why they cannot adopt the technology easily.
and as of the moment the Defi projects that I am now more interested,
are those projects that focus more on lowering the level of risk
when it comes to investing in Defi,
thatās why Iām looking now more on the decentralized insurances like
-Nexos mutual
-Opyn
-Etherisc
and at the same time Iām also interested on projects that focuses more on
the privacy aspect in Defi, like the projects of
-offshift
-secret network
for me those two issues(risk and privacy) that I mentioned above
is gonna be an important sector that needs an attention once Defi will become mainstream soon. Because we cannot disregard the fact that it is human instinct
to think first about safety and security of their funds that they will put into defi, specially to the people who are only new on the crypto space, thatās the time they will look for insurance and privacy.
Thanks again Amadeo for this Defi course 101, I learned a lot.
Take Care always.
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Hi, @Brenton I am using renBTC on balancer to do yield farming; however, I am concerned that if BTC pops ren price will spik not allowing me to get my BTC back. What are your thoughts?
Yes @bjamRez you have to mint you BTC into an ERC20 token. I use renBTC https://renproject.io/ however you have to return renBTC to un-mint you BTC. Let me know if this helps?
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Thank @Tesla - I looked into it and you are right. I am a bit nervous to deposit large amounts (for me, speaking), since the interface is a bit confusing. But I get the concept. I deposited a bit of Dai and USDC in Comp and some Kyber in Aave.
in your question to Brenton, my novice experience isā¦
āIt seems that is much riskier to use non stable coins as the price can change. With stable coins, you have less risk. (this is in response to your question regarding renBTC on balancer).
Thanks man let me know if you need any help
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youāre welcome.
yes I will let you know soon.
Thanks again amadeo.
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No need to be concerned, RenVM does not act as an over-collateralized vault but rather as a bridge constantly minting and burning RenBTC tokens with a ratio of 1:1 with BTC.
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I am not worried abut the # of renBTC vs BTC. I am concerned have if you convert your BTC to renBTC it will make it more expansive to buy/trade renBTC to get your BTC back. i.e. the case is right now renBTC is $11800-11900 and BTC is $11600-11700.
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Well it is not always best to be the pioneers in crypto!
I think in DeFi we are at the same stage as the gold rush of the wild west, so much potential and opportunity but so many bandits waiting to steal the gold and run away laughing into the sun setā¦
this i am saying in the midst of sushi and kimshi yield farming hype projects coming into play with regards to the defi spaceā¦yes ok yield farming isnāt strictly defi but yield farming needs the defi space in order to existā¦strange timesā¦right now the hype is so much that the gas prices to get involved are way to high to consider unless you are already a crypto whaleā¦Boxmining has reported paying up to 5000 dollars in gas fees in one week recentlyā¦
Is the idea of defi good? Yes it is great! Is it currently a way to help Mr Normie normal guy with little to zero liquidity in fiat or cryptoā¦not muchā¦
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Anyone notice that the link mentioned by Amadeo in one of the early DeFi videos now has a warning message from the South African Police Services?
iearn.finance
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You make a good point. Unfortunately my current understanding of this problem so far is limited. Could it be the fees in executing all the various actions needed on the different blockchains, interacting and commingling to perform the TX or even something to do with lagging information from oracles. Hopefully I can be of more help next time around.
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Yes, you make an interesting point. The code is new, and the market for it even newer. I think there is a flash loan scenario because of the oracle data that could be exploited to mank money buy renBTC then un-mint the renBTC into regular BTC than sell BTC. I do not know how to pull this off, but the price difference can be as high as 3%
@amadeobrands How can I learn the steps to try and do the flash loan scenario above?
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