Does wBTC help here?
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Thanks, this answers my question.
By the way, there are crazy rates for BAT on Compound at the moment.
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Hi,
just a question,
If you just enable BAT to the compound protocol and put some bat there, its creates a cBAT token.
The cBAT coin will be in your wallet and your control right ?
But to regain control you have to go to compound to take back the collateral.
The question is more about the safety of your own coins. I am new in defi but want to fully understand the potential weak points of controlling coins
At this point i believe that you always have full control of your coins but that the cTokens live on the compond blockchain (= ETH blockchain), so that is what you have to trust …
am i far off here ?
Thanks
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Thanks a lot! Now I got it!!
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Why would someone want to take out a loan if it requires you to tie up your cash plus 200% as collateral and have the worry of a liquidation with a penalty over your head?
I truly don’t understand the point.
If you have something like real estate which is not liquid - that is where I understand the value in taking out a loan and use that as collateral.
Please explain.
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I want to test use the kovan Etherum network. I clicked the link and ended up on the Oasis website. how do I go on from there to test it out without attaching a wallet since I don’t have any crypto yet.
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Hello everyone.
So i tried my first Defi trx.
Moved ETH from crypto.com to Metamask, ($0.71)
From Metamask to Uniswap, where I changed some ETH for DAI ($1.07)
Lent DAI in Aave ($0.38)
TOTAL SPENT 2.16$
The DAI in Aave deposit are 47$ and actual rate id 3.77%/year.
So far I am losing because of the fee. In order to have a profit from this trx should just hope that the interest rate is going to be higher? Am I doing something wrong?
Thanks @amadeobrands
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Hey @amadeobrands
Thanks for the useful intro to defi. It’s helped to bridge some of my own knowledge gaps about the space.
I swapped $50 of Eth for Dai in Oasis then used y.curve.fi to convert to USDT which I deposited into Aave to earn some interest. In the end I took that back out and swapped back for Dai. I now have £51 of Dai so made a small profit even with the tx costs.
Looking forward to defi 201.
Spencer
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I’m still trying to wrap my head around this stuff… so excuse my stupid question…
why does one lock up 150% ETH collateral to generate a small amount of DAI ?
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Hello @Emmett
In Legacy system to borrow money you need provide proof of income or some assets what can work as a collateral. Here in trust free decentralized system you need collateral with is at least 150% of a amount you want borrow, to cover system in case of you are not able to pay loan back. If value of your collateral is decreasing you need pay more collateral to the system or repay loan to avoid liquidation etc.
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Hello @amadeobrands
I was playing a bit with few protocols.
First swapped 0.35 ETH for $85 in sUSD in uniswap then deposited into Aave to earn 10.94%.
In future i will try made more complex trades.
Imagine is a Bullrun and you dont want to sell your ETH but you see some market opportunity and you need DAI. This scenario showing why you need those protocols.
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isn’t oasis where one opens the actual maker cdp ?
Also, does chai work on the kovan network ? I dont see an option
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You have to weigh the risk-reward ratio.
Personally I would rather put up BTC as collateral
and take my chances than sell my BTC.
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Hi Amadeo,
I opened a vault on MakerDao, tranfered Dao to Compound and I’m earning some interest. What troubles me are the high gas fees… why this high? Yesterday the market was highly volitile and the fees where round 10 usd… can that be the reason?
Its cool that there is no bank involved… I can manage my own savings.
Improvement for new starters is a kind of the old wizard option which can create the first vault. Thanks to your course It was not a big hurdle. But the interfaces should be more basic for starters… you know step 1,2,3 in Jip en janneke language 
Thanks for your course… i will definitely start wit DeFi 201!!
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Hi Amadeo!
Thanks for the course I’ve downloaded metamask and sent myself some KETH to play around with on Oasis and have successfully bought some DAI locked some in the DSR!
Looking forward to when I can do this with real-value crypto! 
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Hi Amadeo! On the test network I staked some ETH, converted to DAI and pooled it for 0% interest, obviously incurring small fees along the way. Now I don’t have enough DAI remaining to pay back what was borrowed. Am I correct in assuming that the 0.000001 DAI difference would be made up in interest accrued?
Also, does anything happen if you disconnect the test wallet when still owing DAI?
Thanks,
Jack
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You can just disconnect on the front end … on the back-end (Blockchain) all is still connected
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Thanks @amadeobrands - so how do you settle the smart contract on the test network and disconnect from the blockchain without gaining interest from the Dai? Do you just get more ETH form the faucet and convert it to Dai?
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Hi @amadeobrands - How do you remove a testnet wallet from compound? Does liquidation occur in the same way on the testnet? There’s no interest rate and I can’t disconnect my wallet as it’s 0.0001 dai below what it can pay back. How do I resolve this and disconnect my wallet please?
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Oasis and Chai offering low interest rates?
I am now looking in to Compound Protocol.
Best
Rob.
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