I have a lot of info to remember. Im not good in math, but it was fun and challenging, especially with metamask. I had to add funds on it.
Question. How can I withdraw the chai latter on?
1 Like
Question> Do you have to have DAI to deposit> Because I just have ETH. And I had to Deploy a proxy and unlocking Dai for the first time… that is normal?
1 Like
Do I have to buy DAI by it self? I just have ETH on my wallet?
1 Like
I do not really know very well what I did. First I transfered 1 eth to metamask that I link for maker dao, compound, oasis. First I have enter into Supply contract in Compound for a 0,22% for 0,5 Eth, then a CPD mint for 0,45 ETH obtaining 30 Dai which is 300% collateralized. Then I put those day as deposit to generate, but I believe is 0% rate.
Not really see those 8% gains interest, but mostly getting 1 USD fee on gas per transaction cost. Probably I am doing something wrong, I will check tomorrow how it goes …if generating anything
1 Like
I dove right into the courses in my Study Plan with great enthusiasm and high motivation until this course, unfortunately, which I thought would spark my interest even more given all the hype into DeFi. The concept is still very interesting when I listen to crypto YouTubers talk about the developments in the space, but these lessons have only got me confused and lost, and I had to look elsewhere to get more enlightened and for better understanding.
This assignment is not what I’m prepared to do at this point with all the uncertainty that I’d have to sort out either on my own or by raising the questions to my personal mentor. I won’t plunge into something I don’t understand 100% and which I feel totally uncomfortable doing. So I’m taking a breather from the subject and proceed to the next lesson/course in the hope of reviving my fascination into blockchain development before it dies down completely.
1 Like
so far I have been able to play with oasis.app and metamask testnet account and that went well although I don;t know
why the DAI savings rate was stuck at 0%?
chai.money won’t allow testnet money which was the only other protocol I tried to borrow the collateral into. Have to look at some other way to further evolve this idea of interesting ways to borrow the collateral into other protocols.
Anybody has any ideas of which other protocol besides oasis.app that allows testnet account?
Thanks
1 Like
Gas fees at this moment are unfortunately high.
But normally fees should be a bit lower.
You can also use the test net to get a better understanding without paying fees.
1 Like
Does the borrow rate gets locked in when a loan is borrowed in DeFi? like a fixed rate loan? or is it a variable rate per block until the loan is paid?
or is it that both types (fixed and variable) are supported in DeFi and it depends on the contract terms?
Are there any examples for both the types right now in DeFi and how do you find out that information when borrowing?
1 Like
Done.
DeFi is pretty cool but there’s quite a learning curve. Gonna play some more, but did I already miss all the sick gains? All I’m getting is 2.4% APR for this DAI.
1 Like
Great job!
Stick around keep studying as you see the interest moves around a lot if you check: https://loanscan.io/
It is a bit more of an effective play.
On AAVE you can use interest rate swaps to set a good fixed APY
1 Like
Thanks. Quick Question. I borrowed a bit from Comp to try and get some $comp tokens. I thought that’s how you attain them as a reward? But I didn’t get anything and not exactly sure how that works–am I doing something wrong?
1 Like
This is an audit of all transactions and fees related to the homework:
This is a break down of the fees:
#0 - Enter Market using ETH as collateral in Compound(activation fee, only once)
0.0032868385 Ether ($0.79) 🙂
#1 - Swap 0.11 ETH for 25.93 DAI in 1inch.exchange
0.007711454 Ether ($1.85) - 7.13 % of total DAI 😥
#2 Enter Market using DAI as collateral (activation fee, only once)
0.002870719 Ether ($0.69) 🙂
#3 - Approve DAI to enter Compound* pool (activation fee, only once)
0.001641246 Ether ($0.39) 🙂
0.012190982 Ether ($2.92) - 58.4% of total DAI 😭
Total in Fees: $6.64 USD only to be able to compund 5 DAI, honesly don’t really know what did I do wrong. I feel like 
I ended up paying more in fees than the promise of 3.04% anual ROI for my DAI, these fees make me wanna DAI.
On top of that I saw that Oasis app offers 0% interest on savings, why did that happen, any insight?
Please help me to point out what did I do wrong? i am getting the feeling that running the Ethereum network with such high fees is not sustainable nor scalable, please, please 
prove me wrong. I wanna believe!
3 Likes
I have been active for a while in Defi, did not know about the insurance part of it. very good stuff!
1 Like
I think you will get them automatically the next time you interact with the compound contract. Otherwise you can go to the voting section and collect them but gas fees might be higher than comp earned if you do that. You will get more comp the longer you borrow/lend
2 Likes
Damn, Gas fees are pretty high these days. Makes you think twice before using the network just to play around!
2 Likes
Other than that, excellent course so far. Just finished the 101 and learnt a TON. Just skimmed through the 201 cursus and excited to learn some more. Goood job!
1 Like
Nice DeFi 101 course, thanks Amadeo. Im sitting here and wondering about the stability of the “stable”-tokens linked to the US dollar. For me, with Donald T in front of the printing machine the dollar feels like everything else than a stable one. How do we solve that inflation in Dai and how is the possibilities with other FIAT-currencies? Is it not possible and even better and safer to create a Dai linked to, for example the Gold standard etc, so its not risks the inflation?
2 Likes
Hi! I would like to see a smart contract protocol to build on top, that takes over existing home mortgages in traditional CeFi by wrapping BTC as collateral and staking it for yield in the protocol. So the protocol would take over fiat debt based on my crypto collateral, until i withdraw it.
I am not sure how but this could be huge =)
1 Like
well I put 1 eth on my meta mask then went to radar relay to exchange for some dai and it just tells me I dont have enough funds
1 Like
The rate of return is in relation to the fees and/ or interest that the borrowers pay. Since the course video these rate have come down substantially and we are at 2.56% for Compound and 0 % for Oasis. At these rates it seems not terribly interesting for the retail investor given the risks.
The one question and risk that I see is Government intervention. Basically in the last 20 years the we have entered in a plutocracy between the large banks, some of the largest multinationals, increased by the the 2008-2009 meltdown and the current covid disaster. In each case it has resulted in higher government supervision and control in particular for the individual investor and the small entrepreneur ( try opening a bank account in Switzerland) . Therefore the blockchain network and the DEFI is everything that governments hate. How is this perceived in the community?
2 Likes