Thanks Amadeo, very interesting courses. I am away and I can’t do this on my mobile. I will send my assignment next week.
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Kovan network gives me an error connecting my Metamask wallet while the gas fees in Oasis are $22. I don’t feel like paying it for homework’s sake
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I think it is a very exciting prospect to earn interest on your ETH using maker and compound. I deposited my ether into a CDP vault and generated some DAI. Compound then offered me a 14% return on my DAI which is far more than any bank will offer in the current climate. Also ETH has outperformed my native currency the pound sterling by 77% since the years beginning. When traditional finance discover they could have made 77+14% in 6 months with DeFi they will be unable to resist our revolution.
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you gotta switch to kovan testnet in metamask
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I figured that. Thank you!
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Using the DAI savings rate - Assignment, July 28th 2020
So I tried Using Kovan test net to test the Oasis. I failed at using Kovan, so I went ahead and explored oasis and compound. These systems have great potential, but as of now the fee where every high. I ended up paying $20.00 in fee’s using both sites. I also noticed Dai savings rate was at zero. In compound it was at 9.8 apr.
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I was able to tinker with DAI savings rate, for this assignment.
It’s intriguing to witness all this in realtime… …I was able to also verify Smart Contracts; vetted the address. Defi is definitely putting central traditional banking (finance/loans) on notice!
Great exercise!
Verified via Etherscan.io
Vault to start generating Dai.
Get Started
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Ledger
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0x0cc50…95d1f
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Connect to Ledger Nano
Wallet Balances
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ASSETBALANCEUSD
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DAI0.9833$0.9833
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SEND
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ETH0.0296$9.53
TransactionHash:0x4a1bc7d6cc0d7df8e66acc248418fffd4d6efa8b583f7a0268e378e14a0af620
Status: Success
Block:10551573 3594 Block Confirmations
Timestamp:13 hrs 8 mins ago (Jul-29-2020 01:43:19 AM +UTC)
From:0x0cc50ca6a317774ca8dab888b08099da83795d1f
To: Contract 0x4678f0a6958e4d2bc4f1baf7bc52e8f3564f3fe4 (Maker: Proxy Registry)
Value:0 Ether ($0.00)
Transaction Fee:
0 . 02665242 Ether ($8.64)
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HI all. How do I get DAI into may Metamask without paying horrendous gas fees?
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Hello Tanja,
I purchased Dai at Coinbase, only because Metamask was rejecting my credit card for some odd reason. I transfered the Dai to Metamask. I also recommend you purchase some Eth, to pay for those gas fee’s. I feel you on that one, the fee’s are getting as high as mortgages 
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In the end I did the same. Noo how do I continue from here. I clicked “get started” but I dont have enough funds to execute it. Also I am not sure if I really have to …
I dont see this:
Your answer is not visible anymore. Can you help with my questions which I wrote above.
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Also… the chai transfer did not work, It took my transaction fee but its not brewing, I still have the same amount of DAI in my metamask wallet. I tried a second time today, nope.
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I listened to the deep dive section 3 times now, tried it all for 3 days… I couldnt get the stuff done, all it dos is take my ETH as one needs to make so many transactions and GAS fees are too high… Its great innovation, but fees are too high right now.
I think the 1 hour lecture would be better to be split into several small lessons with one exercise for each platform. Also, it lacks basic explanations as you are very much into the detail. For example I don’t see what your goal and objecitve is and why we are doing things by clicking around. Please explain the overall first, then go into the detail.
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So just because I hold my keys, it doesn’t mean that I can’t lose my investment. I think many of these projects make the suggestion that you can stake your coin for good returns, but don’t give enough emphasis on the possibility that you could lose that investment and it’s not all win/win.
Or have I completely missed the point here?
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At this moment DAI has 0% intrest on MKR it self.
better use https://app.aave.com/ this still overs higer APY ±8%
This is due to that AAVE will give you Flashloan and other pool fees.
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I put some Dai in to oasis saving to only find out that I don’t get interest on my Dai right now. Is that right?
Were can I check the rates?
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Can somebody please help and let me know what I am doing wrong?
I had been using Metamask without any issues but in the last week any time I try to carry out a transaction nothing happens. I have tried to swap tokens on uniswap and it just says transaction pending but this goes on forever, even if i select a high level of gas. I have some Dai in Compound and I tried to withdraw that and again nothing happens
When I click to view on Etherscan it looks like there is no transaction.
Can somebody please help because this has been going on for days and its so frustrating.
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Seems to be working now. I cleared browsing data and cookies from my Brave browser and messed around with advanced settings in Metamask. Not entirely sure which of those fixed it.
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For the assignment I got some test ETH to play around in the Kovan testnet. Used that ETH as collateral to get some DAI. The savings rate was 0 in Oasis, so I connected my Metamask to Compound. I managed to supply my DAI as collateral, but I don’t seem to get the cDAI in my Metamask wallet. I wonder where the problem is?
Anyway, looking at the current rates at https://defirate.com/lend/?exchange_table_type=lend and high Ethereum gas fees, if I played with my real money to get yield at this point as a beginner lender, I would look into the centralized lending pools like BlockFi and Crypto.com to get 4 - 9 % yield for my BTC, ETH and USDC.
I hope the DeFi playing field gets more mature because this world of dApps is fascinating. Looking forward to learn more and will definitely take the DeFi 201 course. Thank you for the course, Amadeo!
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Before the Course I had a very low knowledge on DeFi with the course I understood a lot more about how it works.( sometimes it is just unbelievable)
I did the Maker Dao protocol and did the same exercise you did on the course everything went well
Thanks very much Amdeo
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I’m putting this assignment to the side for now. Foremost I am a bit technically challenged lol. Secondly, the scope of this course is very interesting but also very challenging from a cognitive standpoint for me.it’s just a lot to wrap my head around. I slept through econ and fiinace classes lol. also the transaction fees on eth are extraordinary right now, which does highlight a potential future issue. Looking at Cosmos right now, i think they have a good vision of an “interstellar” ecosystem inclusive of many projects and warrants some further investigation and time input. I will be back!
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I’m going to do my best to ask a unique question that will probably showcase how little I understand.
I managed to go into Oasis.app and set up savings (0%) and then withdraw it. Felt great. I then did the whole borrowing thing, got some DAI. Then got it all back to ETH. Burned a solid $40 in gas, but it was a learning experience. So I’m feeling all good about this and then I start reading this forum thread. I see many questions about “how come the DAI interest rate is 0%?”. This goes back to May. And would worry me, so I guess my multi-part question is:
A) Is the 0% interest rate on DAI or ETH. I’m guessing it’s 0% whenever ETH is on a steady rise, which it has been. Do I understand this correctly? Then I started worrying about what happens when ETH slides in price. Is that when Maker governors decide to raise the interest rate?
B) I’m assuming that the Savings contract is really the foundation for all of DeFi. If there’s 0% interest on the saving, what’s the incentive for staying in Maker? Why doesn’t the whole thing collapse?
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