Keep learning in the DeFi space

Defi 101 Course
#104

Just ZAP it and make profit
https://defizap.com/zaps :wink:
DeFi 201 comming up :smiley:

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#105

Thanks for that, I will play around with it. :face_with_monocle:

Looking forward for the DeFi 201. Will I need coding as perquisite.

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#106

Hello, do you think is safe to put your erc777 token ($pbtc) in a savings account to gain interest while the token follows the price to the moon :crescent_moon:?
And if yes ā€¦ 1inch could do the swap from btc to $pbtc?
Thank you Amadeo ā€¦ you and Ivan inspire souls to believe in a better future.

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#107

Very good to hear this thank you so much :slight_smile:

#108

Thanks Amadeo for introducing us all this new ecosystem I am all ready using Pool Together and I like it a lotā€¦

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#109

Great :smiley: Some new cool update are coming to pool together be sure to follow there blog and try to under stand the code :wink:

#110

Hi @amadeobrands i noticed that you havenā€™t included the y.curve.fi in the DeFi Excel List that you maintain. any particular reason? Iā€™m absolutely fascinated by it. By the way what did you say the developers name is again?

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#111

It is in Beta ā€¦ so do not invest to much but it has the highest Yield at the moment.
BUSD ycurve seems most stable.

There are some Red flags so watch out :frowning:
But overall it is very experimental.

#112

Thanks for the additional heads up. Now i understand better. Thanks

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#113

I think fusing the ability for normal banking applications in CeFi to make normal Funds Transfers between customers accounts between different banks using the DeFi and DAI to reduce the cost of transmission may be useful. In 2017 i designed a payment interface for the T24 banking application for a bank in London including a cost model in the design. This enabled the system to dynamically determine how to effectively batch transactions and determine which channels to use e.g. BACS, CHAPS, Faster Payments to use inorder to keep the bankā€™s customer transaction cost minimal. This was because of the prevailing low interest rates being paid on most customer accounts. Transfer Cost would exceed Interest Earned. With the present world economic situation and that of the financial crisis looming as a result of the Corona Pandemic, low and negative interest rates will likely be a common issue in many countries. The need for this solution will help the banks minimise Funds transfer cost on to customers as the cost will exceed the account interest rates.

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#114

@amadeobrands iā€™ve seen the process

  1. Convert ETH to WETH
  2. Trade WETH for DAI
  3. Place DAI in DSR

Is that correct? I cannot believe that the GAS Fees at each of these stages can be so ASTRONOMICALLY High. This is unbelievable. The amount of real ETH that could be transferred on the normal exchanges and Blockchain for the same GAS amount would have meant i was transferring hundreds of thousands of dollars in ETH. This is very discouraging to see in OASIS. I stopped the DSR test because from starting with $51.00 worth of ETH, i now have 44.56 USD worth of WETH and would have ended up with less than 37.8795 of DAI to put in the DSRā€¦that is sadly discouraging. Am i missing the process? If not, does having to wait for enough interest to be earned to return the GAS cost not negate the process for people with small amounts to invest? How does this make DeFi suitably accessible to the unbanked especially in underdeveloped countries?

2 Likes
#115

Iā€™m struggling to wrap my head around this as well. To me for this to work on a large scale there needs to be a reset. Although it seems we are almost at the point of no return and a reset is guaranteed, I doubt that is in the scope of this lesson.

Of course, other parts of the discussion revolve around arbitrage, which in the end, to me, means someone loses and seems a very close parallel to the (failing) system we have today.

That said I do like the freedom and the ability to conduct transactions without middlemen.

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#116

Amazing work looking forward to more!

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#117

Gas fees are high since the network is used a lot witch is good and bad ā€¦
Remember as I said It is about security not speed ā€¦ when we have security a faster infrastructure will be build out.

Right now ETH 2.0 is on itā€™s way.
But see it like this lets say you want to deposit your funds in an account where you will get %6-7 this will likely be a broker or something the fees there would be much higher ā€¦ and also the risk would be higher so I think where we are now is already amazing progress ā€¦

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This stuff is very complex and we all need to work together in a constructive way to make this work.

#118

I love this course . I am completely new to this space without no programming experienceā€¦ But I am learning a lot and all is thanks to you Amadeo.

Now I have better understanding how this is workingā€¦ I will learn more and would like to land a job in this industryā€¦Maybe not like developer but more marketing management role.

Do you have any suggestion for me how to entry this spaceā€¦you can send me directly to : [email protected]

Thank you for your great overview ad reference point .Rene

2 Likes
#119

I would like to discuss the issue of GAS fees being to high to use the DeFi cause i noticed as well as i made every test with my own funds (so i ā€œfeltā€ the cost :slight_smile: ), i think is understandable the concern shown in the topic but I also think that we are still in early days of DeFi so we canā€™t expect both high security, low fees and high scalability. There will be more blockchain in the future with maybe/probable improved performance but till that moment we need to handle the current system as it is(and also ETH 2.0 should come out one day and things could change). This DeFi space has an incredible potential long term that maybe we donā€™t even realize right now so itā€™s good that is always growing and expanding.
In emerging economies the illegal borrowing lending market is incredible giant (i saw a lot of ā€œpoorā€ people in philippines borrowing money from others people , interests i saw were like 10-20% a MONTH) , so the fact that one day they could have a trustless secure system without middle men to borrow money is great.

Itā€™s possible also that the DeFi on ETH will always have his own case usage as BTC has a specific case usage (store of value etc) and others crypto have their usage case so in the end Iā€™m not much worried for the ā€œhigh feesā€ at the moment.

We are in that early days in general that still most people donā€™t understand the value of the blockchain itself, the fact that cannot be manipulated/censored/stopped etc is still overly underrated from the mainstream.

Thanks for the course Amadeo , looking forward to DeFi 201 .

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#120

So the deadline has passed for the assignment?
Thanks for the info. Great to see what you guys are doing in Philippines.Hopefully I can do the same once for Morocco.

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#121

Hi Amadeo,

I would like to ask why I didnā€™t get a certification for Defi 101 like I did for Bitcoin and blockchain and Ethereum 101?

Regards
Izzy

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#122

i would really want to know if is should change my bitcoin for the $pbtc and make it work in the eth protocol.

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#123

You should have.
When completing the course you should get one.

1 Like