Hi there, can anyone explain what a Liquidity Pool actually does? In Idiot terms
Thank you all.
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I think Synthetix sound good. I will do more research bout it.
Thank you Amadeo for the teaching. 
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Hey @amadeobrands ive recently just triggered a Maximise Comp Mining transaction using InstaDapp. I think if this was done a while back i could of earned more but ive floated 100 Dai in there and Borrowed 200 USDC back and then supplied that back again. Very cool but also very risky, its pegged at a Dollar USDC so i am thinking not much of a risk in that respect.
i noticed Curve.Fi in the smart contract could you elaborate what has happened there? I remember in previous lecture in 101 you mentioned it.
a Copy of the smart contract is there for you to take a look. or for any one at that matter.
Good luck everyone and happy learning.
Rob.
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Some cool arbitrage opportunities Iād be / am looking into are: DMM: Governance [DMG] / DeFi Money Market (DMM), Ren (REN), Synthetix Network Token (SNX), Compound (COMP), Horizen (ZEN), Kava (KAVA), WAX (WAXP), Balancer (BAL), Bancor (BNT), Chainlink (LINK), Divi (DIVI), Celsius (CEL), Loopring (LRC), Aave (LEND), VeChain (VET), 0x (ZRX), EOSDT, pTokens BTC (PBTC), imbrex (REX), Request (REQ), Zerion, dYdX, InstaDApp, Incognito pDex,
Havenāt yet thought (since still not skilled) about what DeFi building block to build.
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I finally was able to deposit my 30 DAI into Lend to generate a 6% in deposit. I am slowly progressing. I was able to reverse the DRS DAI deposit that was generating 0% returns. Now much better to deposit in Lend at 6% rate average 30 days 8%.
Not really into building block, much more interested to find interesting return rates for my coins, without risking my coins.
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Thank you, Amadeosā¦ for taking us through the growing DiFi space. Youāre a wealth of knowledge on the subject. I look forward to the exploring this industry and use cases further. With the economic conditions and the reality of fiat currency and corrupt Central Banking systemā¦ I really donāt see how the DiFi industry and use cases wonāt explode over the next several years. Thank again.
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Hi Rob,
Nice Idea! My dad did give me some kind of rewards for helping (household chores or helping out others ) one per help. Once I have accumulated 500 or more, I can claim my desired gift limiting to price range for appropriate helps!
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Thank you that is a great question and good that you inspect these transactions 
Maximize Comp Mining from InstaDapp is use the Curve protocol to execute the swap as far as I see.
It is called cast spells and Cure is used in the spell as a swap.
You can also do all this from the command line or via your browser without a GUI
It is super amazing and crazy.
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i bought DMM on Uniswap and its doubled in under 3 weeks.
Great buy.
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Great stuff I most certainly will try it out.
Kind Regards
Rob.
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Hey @amadeobrands, is there a quick way to figure out via etherscan why a transaction is pending? Iām looking at the Balancer: Exchange Proxy contract and there are transactions that have been pending for hours and days. Could it be a liquidity issue for a particular swap? https://etherscan.io/address/0x6317c5e82a06e1d8bf200d21f4510ac2c038ac81
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Thx Amadeo,
now the basics are done and looking forward for the next courseā¦canĀ“t wait to create my first flashloan 
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When I started the course I thought the same idea!! Right now Iām playing League of Kingdoms and this is my first approach to a NFT but thereās a lot of opportunity.
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I am leaving this course a bit disappointed not in the materials or topics covered, I think you did a pretty good job guiding us through the forest @amadeobrands I will be forever grateful for that, but in the defi industry in general, I feel like this whole concept of collateralized debt, derivatives, swaps and flash loans is trying to replicate a failed system, I am concerned how vulnerable these protocols are in terms of hacking and how closely they resemble to the current market economics, not to mention how correlated they are to the stock market and how it affects them. Look at the suboptimal interest rates that are promised as of now 0% saving rate in oasis.app.
Not only they are hyper speculative assets but also their relationship to the current economic model is what makes me think that having a stablecoin as a bridge for financial instruments is a vulnerability for the whole ecosystem, why? because that makes the whole cryptomarket be in direct correlation with the money supply, so If the government prints more money the whole market becomes vulnerable to hyperinflation, thus bringing the whole crypto market down together with the economic system it promises to replace.
I do believe in blockchain and in all blockchains in general, however I would be more interested in NFT that are not vulnerable, nor tradable, nor correlated with any traditional market, I liked how OxFam used DAI to provide local communities however by having the USD as the coin of reference they end up reinventing the wheel using USD as their currency and subject to eventual inflation.
I would like to explore the concept of local geo-blockchains which tokens are backed by real world assets, real world actions and real world interactions, and that serve as building blocks of a new society not only a new āfinancial systemā. Still donāt really know how or if something like this exists but if you know something similar to this please enlighten me.
Really eager to hear your opinions in this matter, and again thanks for the well crafted, insightful and comprehensive introduction to the DeFi ecosystem @amadeobrands, you are awesome. 
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There is a lot of over-hype on FlashLoans etc ā¦ people think they can invest $100 and get $1000 in return ā¦ this never will happen.
The innovation and significant sits in different parts of the industry.
I would recommend also doing DeFi 201 here I will go deeper into more fundamental parts and I think the significant and importance of this industry will then become clear.
DeFi right now has a wale problem and with less then $10K you would not really get it and makes no sense apart from research ā¦ It will become more accessible overtime and more and more services will become avilibol and the traditional CeFi will switch more and more to DeFi ā¦ Right now we need real world assets on the blockhain Iām working on something cool that I will release soon.
Overall please check DeFi 201 ā¦
Hope after that that you will have a changed mind.
Thank you.
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Thanks so much for the amazing course. Can anybody explain to me why anybody would lend money when they have to put in more collateral than the amount they borrow?
Like what is there to gain from that for the person borrowing? Why would they not just use their own coins in the first place? Would love to have a clear example of why anybody would use this. Will make it much easier thinking about new building possibilities.
Thanks in advance guys!
Max
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Will do for sure, really eager on learning more about this, because I do think the underlying technology is great and has a lot of promise, please keep us posted on the awesome projects you are working on
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Im just like you, a little bit worried about the direct correlation with the printed money supply. But it is maybe just the reason that Im not deep enough in the DeFi space-knowledge yet, and do not understand how it can solve the problem. I have also the feeling that in a fully Crypto adoption the hyperinflation in the traditional CeFi will follow and cause problem in the DeFi space. Looking forward to learning more so I can fully understand the possibilities to solve this kind of problem so we can avoid that this happen.
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Yes exactly this, the more I research, the more I feel that there is an intrinsical risk in adopting a stablecoin as a base for this whole ecosystem, It makes the market directly correlated to the inflation of the underlying asset, plus subject to events like black swan and what happened to $DAI and Maker DAO by liquidating at 0 ETH cost.
Even Dai controlled by Maker DAO is not really a Fully descentralizad organization and controlled by a couple of dozen of people and the huge VC firm a16z.
More on this on this Twitter thread:
Essentially I think as @ivan says, humans are greedy by nature. I feel that this defi ecosystem and crypto speculation in general is deviating the attention from solving problems that really matter with the awesome tech that is blockchain, To re-implementing economic instruments that have caused troubles in the past.
Look at the 2008 crisis, caused by Misused derivative instruments, Futures and swaps, all this gambling game is what makes the ecosystem unstable and unusable, look at the outrageous gas price currently, if volume increases in this fragile chain of interconnected blocks of deFi then Gas cost will increase, making it super hard for the average Joe to even step in the game.
Honestly I feel that blockchain tech has far better use cases other than especulation, like for example, free speech, governance, surveillance from people to end corrupted governments, democracy, tax payment tracing to ensure that resources go to social causes, new exchange protocols and none of them require asset speculation nor trading.
I do think that DeFi has potential in areas such as insurance, but as long as we have a correlation to an asset that will hyper-inflate such as the dollar then the house of cards will remain fragile and all the building blocks of this ecosystem are in risk of falling apart.
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So far what I understand is some of the products like compound and balance that DeFi has come up with are equivalent CeFi financial products like mutual/Index fund except that here the NAV value (DAI, CHAI) is fixed to $1 and the growth in the fund is achieved when the underlying token mix perform well which is similar to the growth tied to the stocks portfolio in the mutual/Index fund case.
The risks are similar to when the stock exchange/capital market/world economy crashes in CeFi or here the entire ETH/BTC/some other ecosystem or the entire crypto space crashes
Defi Insurance space must operate similar to the above products except for additionally providing monetary help against fatal happenings.I havenāt found any DeFi examples
DeFi exchanges operate via smart contracts; scout for liquidity across multiple sources and find the best rate to fill the order.
DeFi games are no diff from CeFi except they are on the blockchain
There must be some DeFi products for options, forex market, futures, metals mining, auto ins, health ins
Auto liability insurance could be easily provided on the DeFi with some govt help
What do you guys think?
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