Keep learning in the DeFi space

Defi 101 Course
#144

I am currently using Nexo.io as one of my wallets for Crypto.
When you park Bitcoin or Ethereum there they will give you a credit line against your crypto assets. The credit line can be in the form of money to your bank or a stable coin.

  • The Interest they charge on the loan is 5.9% per year (APR).
  • You can earn 8% by parking the stable coin in your wallet with them.
  • After fees that may not earn you that much so what I did was.
    I borrowed USDT and sent it to Binance.
    I then purchased more Bitcoin at Binance and then sent it back to my Crypto wallet with Nexo.
    I was then able to tap into a little more of a credit line with the new Bitcoin and rinse and repeat.

What I find most interesting about the credit line they present you is that they have different levels of credit they will issue for each coin.
For Bitcoin its about 55% and for Ethereum its about 40% and it keep going down from there on other Crypto assets. It shows there level of confidence in each Crypto asset. Even there own coin NEXO, they donā€™t give you much of a credit line for holding it, but they give you a discount in fees if you hold some.

It seems like how an insurance company asses risk. Its interesting to see how they rate the coins and I factor that in into my own investment analysis.

2 Likes
#145
2 Likes
#146

Iā€™m interested in

openBazaar.com

Would love to see a decentralized way to buy goods and services.

1 Like
#147

DeFi 201 :smiley:
I explain it there and buy wines, socks and a house on the blockchain.

4 Likes
#148

Ciao Amadeo,
Thank you for putting this course togetherā€¦and giving me headaches :-). Iā€™m trying to play around with the things you show in the course at the same time to practice and to get an understanding of it and it works quite okay so far. That is when I donā€™t get stuck in getting my transactions approved.
However the challenge in the 100 Dai excercises I canā€™t get through without some extra info:

  1. Which code do I need to download on your github link?
    I guess that is it. Once I understand 1. I hope I can figure out by myself how to run the code on my computer (mac).

Thanks it advance and keep up the good work
Emmanuel

1 Like
#149

https://thort.space/480907003/invite_code/_SmgIIJhPYTe7nfnxcIvtH

This link expired?

1 Like
#150

Yeah, I am very set on intermingling Machine Learning with DeFi to hopefully automate flash loans, I have not seen a project to do this yet.

Also, would it be possible to send a unlocked editable version of your spreadsheet listing all of the DeFi and CeFi links and descriptions, I am finding that an incredibly useful piece of this course and would like to add my own notes to it as I discover and explore new ideas from the information on the spreadsheets you linked.

2 Likes
#151

Thanks Amadeo, really enjoying the course. I am trying to put all the broken pieces of ideas together atm. I have some ideas for the Gaming industry and how we can unite some of the popular games like Robux etc to go with a global trading coin where my little kids and move between games and trade there assets on the Blockchain. I am aware of Enjin Coin but im not 100% sure it is all there yet.

Secondarily i would like to reward my daughter by doing house chores and doing well in school via this token/coin where she can use this to possibly purchase more assets in her games. One of my issues is how to programme a smart contract to register or trigger an event she did, ie helped out with her little brother or possibly got good grades in school. really interesting stuff and i am eager to learn so much more about it.

I hope im not being silly asking this on the forum, but its been helpful for me so far.

Cheers Everyone.

3 Likes
#152

I liked the course. It was easy to understand, but it can be difficult for mass adoption at the moment. I feel ETH or some other token will be the front runner if it is shown explicitly what it is, how to use it, and why should the user use it. I personally enjoyed the experience using DEFI ecosystem for the first time. Thank you so much @amadeobrands for explaining this course to me. I will take the DEFI 201 course soon and review what I have learned in this course.

2 Likes
#153

Hi Amadeobrands

This was a great course. I cannot stop telling people about Defi now lolā€¦
It is time to get into the programming end of it for me now as I see many many opportunities.

3 Likes
#154

Amazing :smiley:
Soon will release some new content:
Please subscribe.

4 Likes
#155

Amazing course that was SOOOO PACKED with information. I had no idea how built out the space already was. Iā€™m going to dig in deeper and learn more about all of the protocols connected with each other. Thanks for this great course!

2 Likes
#156

I think part of the reason some people take loans is for Tax reasons, like if you own BTC for more than 2 years in some countries you donā€™t need to pay capital gains tax.

2 Likes
#157

Maybe when I fully understand this (thats a while away yet) that perhaps I could create some sort of a hedge fund underpinned by a smart contract. That smart contract could perhaps pool money together to open a CDP.
The aim I guess would be to offer a simplified/less complex process for defi newbies so that they can earn interest and transparently see where their money is invested (while talking a small percentage for myself for the value offered)

2 Likes
#158

Thank you @amadeobrands for the courses and the reading materials Iā€™m really enjoying them!!!
Iā€™d like to ask you a question, Iā€™m working on a very simple and basic use case. I have developed a service where I use an smart contract on Etherium. In order to use the smart contract, I need to charge my service in crypto, to avoid price volatility I need an stable coin. My question is, according to your experience, if I need to lock DAIs for a short period of time ( 24-48 hours) in which DeFi protocol would you do it?
Thank you for your time and as soon as I watch again DeFi 101 Iā€™ll continue with DeFi201 :slight_smile:

1 Like
#159

Hello @amadeobrands

Thank you for explaining everything in great detail in DEFI 101 course.
Im very interested in that what way Defi will go in future after tokenization. Protocol with allows you to bring off chain data like your Payslips, invoices, work agreement etc as a collateral. Then creating agreement on chain, connected to Insurance protocol of choice with will be putting on you extra few % APR so that Liquidity is provided, security is provided and everything can be decentralized.

2 Likes
#160

Hey @amadeobrands

Iā€™ve had an idea Iā€™ve been holding on to - this seems very applicable!

Companies promising buy now pay later, and credit lending centralized companies will soon shrivel close to extinction with central banks printing trillions by the month, inflation rates will fly through the roof and inevitably the economy will all come crashing down as the cyclic routine continues.

Instead of companies fronting the cost of consumers loans of their high-ticket items, what if there was a way to create a contract - or savings plan - with the retailer and upon final payment complete the transaction.

Smart contracts could set up a contract between consumer and retailer, with the consumer choosing their length of savings plan, i.e 3/4/5/6 months.

The contract would need a minimum of 2 other signatures as a guarantor of payment, should the consumer be unable to make the payment.

The item would be ā€˜held/soldā€™ on the day of the 1st payment date on the smart contract, with the RRP of the item remaining constant until the final payment. Once the retailer has received the final instalment, the transaction will be completed and the item released. (Sent to consumer)

Smart contract would be able to:

  • Calculate monthly budget of item
  • Automatically create weekly/monthly instalments from consumer to retailer
  • Release item to consumer upon final payment, automatically shipped to their address
  • Exception - 2 other guarantors if consumer unable to pay in exceptional circumstance

Buidl budgeting scores:

  • How many times have you budgeted to purchase something?
  • How often have you kept to your monthly budgeting
  • What is the percentage you are budgeting
  • Higher score allows consumers to budget higher-priced items over longer periods of time.

Would love some feedback from anyone whoā€™s just read this on the thread! :smiley:

2 Likes
#161

Thanks for the course I would like to know more about how the interst for lending is calculated and how GAS fees are calculated

2 Likes
#162

Thank you @amadeobrands once again, great course. I have a good idea and want to be able to work with my kids and learn more about ENJIN Coin and be able to create a reward for my daughter in payment for doing good things in the house and in school. I would like to reward her with a global token that interacts with any other game like Roblox, Minecraft, Fortnight where she can use this token to trade to what ever game currency. Really intersting topic to think about. I would love any help on this mate.

Take care and see you on 201 very soon.

1 Like
#163

Even though a great deal of the material was difficult for me to take in, thank you for the course!

A majority of the material about MakerDAO and Compound was difficult to understand, but I am still glad I have an understanding of the general facts about DeFi.

1 Like