Yes it is all about a web of value.
I do would recommend to first understand ETH and MKR Cosmos etc looks similer but you do need the fundamental knowlage to follow all completly.
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Yes it is a bit hard now … reasons are since you can now basicly borrow DAI for free wich is interesting.
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I am new to this but you can try this .
1.Find your send adress on eth scan
2.When you find your pending tx press on eth scan Click to see more
3.Find nonce and write it on paper or…
4.Now you must ( if you used eth ) send zero eth from your metamask wallet to your wallet
but before sending 0 eth to yourself NONCE on metamask must be the same as the pending tx ( you can chose nonce on metamask . )
5.Select the higher fee for tx .
6.Tx are canceled but fees are lost
like this
tx772 from A to B nonce 112 pending
send from A to A zero eth nonce 112 select tx fee higher
tx 772 is canceled
Second problem i had(kovan testnet) was not enough balance on metamask to pay tx fees even when withdrawing fees are payed from metamask.
good luck.!
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Hi Amaneo! Thanks for all your teaching and delivery. Big learning curve for me! Very much appreciated! Just working off my home PC and not real sure how to include the images like in some of the other students posts?
I have played around with the “oasis.save” DeFi interface. I’ve created a vault, locked up some ETH, minted some coins and placed them together with some Dai that I exchanged in my own wallet. I put this in the “oasis.save” account but the rate was registering 0.00%? I end up withdrawing it because I wasn’t gaining any advantage by locking/saving?
All was not lost though, I sure did learn a lot and am not discouraged to keep an eye on this medium to receive returns. I think in all the readings that I did, the community votes sets the OSR. Have I got this right or do dynamic algorithms determine this price? Thoughts?
Finally, I also explored the “app.compound.finance” dashboard and processed supplying some Dai into the open market. I’m much happier here as I’m presently receiving 4.5 - 4.7% returns market rate adjusted. Probably could have minted some Dia, coupled with purchased (CDP) and parked it up here for an increased return. I think its really cool to see the numbers rolling over each time a block is completed!!! 
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It took some time to find my way around this, but yeah… got there and minted some dai, parked them on compound and borrowed against some more. Wrapped some dai over at chai.money then unwrapped them because 0%. Did some similar things on the kovan network but mostly on compound, don’t think makerdoa works on the kovan network.
I can see that leveraging the borrowed money, while saving the original amount if the rates were favourable could be beneficial on it’s own. Additionally, if an investment were identified that had a lot of promise and that I believed in, then using the borrowed, or leveraged amount could provide additional profit.
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new ideas making a 3 button trading platform so we can drop confusion on swapping and gas fees xestra we can call it {abc} easy as 123 … isee lots of benefits of increasing your borrowing potential quick gains risks of course!!
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finally, got metamask on the kovan Etherum network insufficient balance to do anything tried to buy mana unlocked it but have too little cash
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The whole Defi idea sounds great and interesting.
I sent some DAI to Ether address, and have it available in the metamask wallet.
Approved Dai (small fee - ok )
next step was Deposit DAI in Aave.
The showstopper here was the high gas fee. (15 Euro)
Does this mean that these kind of transactions are only worthwhile when using large amounts ??
Otherwise the APY is not worth it…
Hope in the future the gas fees will come down a lot, in order to compete with the bank system…didn’t we want to get rid of the banking fees…at the moment this is worse i’m afraid…people losing interest…
Still, will study further to explore all possibilities.
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Hi Amadeo,
I gotta say its been an experience!
And, like some of the other students, I am going to finish the DeFi101 for now and move on to Javascript.
But am I now going to forget all about DeFi now I finished this course… I don’t think I need to answer that 
I don’t think anyone will be forgetting about DeFi shortly, or perhaps ever.
Its a lot to take in, but now I look at some of the comments people are leaving in some of the forums about Defi/wallets/unswap etc… and I know some of the answers… it feels good! 
I’m also really happy to get my head around Etherscan, what a wonderful thing!
And understand Maker, Dai, Uniswap, Compund, and Oasis a lot better and how it all works together.
Which is not to say there is still so much to learn… but more and more I see it is coding that is the root of all this. luckily I have a bit of experience in that field to at least get me started.
Thank you
Rich
I think all industries could have a use for creating their own token. If a store like Target could allow customers to save their “Target tokens” and make a little extra. I think this can lead to brand loyalty.
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The DeFi protocols is very interesting. Thank you Amadeo!
I wanted to explore some CDP and Chai today, but the transaction fees are ridiculously high. Even though the transaction below is confirmed but I didn’t get my DAI for some reason. Maybe it requires additional transaction but it didn’t go through? Anyway, I will wait until the traffic is down.
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I locked up some ETH for some DAI on Coinbase mobile wallet a yr or so ago as part of their free DAI to learn program and in going back to look at it, it appears to no longer be supported by Coinbase so would this mean that I am still able to go to Etherscan and interact with the contract to redeem my funds like you did or…?
I wanted to ask before hanging myself out to dry trying… Lol 
I see this being huge because if they offer more interest than you pay on your credit card or get an institutional loan and invest that money into Crypto DEFI projects as collateral and earn more interest than what you’re paying for the CC or institutional loan.
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Gas fees are high to open a vault on Oasis. Should i generate Dai another way? My ether balance is $90 USD. I don’t want to use half opening a vault…right now that is. What do you think @amadeobrands?
p.s. Great content in DeFi 101!! Looking forward to 201!
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Hi Amadeo,
Thanks for the deep dive approach. I think I got the picture of its power!
Yield farming is not for me; however, I would try it out for the assignment’s purpose, if the gas price (gwei) wasn’t so high and the current market so brewing.
When it comes to useful DeFi, I would really like to see a compelling solution that addresses the issue of inheritance/wealth transfer.
Scheduled proof of life? If failing, lend the assets (liquidity) to a pool, earn interests that will compound while the time lock (min. 1 year?) is on? Then the claiming phase of the SC; transfer the assets to the heirs’ multi-asset wallets? And what about if a person wants to change his/her testament several times along their lives? And what if one of the heirs dies before the claiming? A cascade of, and interconnected, SCs until it finds the rightful heir/heirs alive in the succession mesh?
Do you know of anyone working on solving this real case problem? Thanks.
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Hi Amadeo, I just hanging over those juicy pages, and just doing deposits to cancel them, when i see those fees. I should to do that when is cheaper.
Thanks for a nice content!
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I registered account at GitHub and then went to
to get KEth for Kovan Testnet.
Transaction Hash:
0x62fbfc076aa29aafe90ee8cac1b5ec1e7cde700bc5b5cd767ec1958d0e793d49
From:
0x003bbce1eac59b406dd0e143e856542df3659075 (epheph)
To:
0x5a5a767a01dfd4b9ae8127a7b40b3612b2cc864c
Value:
3 Ether ($0.00)
Then I went to https://app.compound.finance/
and supply it with 0.5 eth and parked it as collateral
Then I borrowed 20 DAI
Transaction Hash:
0x86f9342bbe41496e4be81acac3f2269e462f11dbea8c88af5a69ad377282e61d
And then went to oasis
and deposited 10 DAI (DAI locked in DSR)
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Nice 
Very 
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It’s obviously a bad time to be transacting with current gas prices, but I have gone through the motions of connecting wallets and running with transactions right to the point of rejecting them before spending the gas. Also, I see the APY’s are all at zero percent for the moment. Is the saving/lending space dead, or is recovery on the horizon?
The Defi space is quite fascinating, and I’d certainly like to get involved more and figure out how to enable the millions of unbanked in South Africa.
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That was an interesting exercise. Thanks! Crazy gas fees right now meant it wasn’t affordable for me to toy with real money. Which I think had it been affordable would have been more straight forward, and as such I dont think I’d have learnt as much. First attempt using a test-net. * Really requesting money from a real faucet that has not monetary value, to carry out a real transaction that isnt really real is super surreal.
Watching those figures continuously roll up higher in supply balance, in real time is also surreal. Looking forward to playing around some more!
Guess theres room for aggregators of all kinds. With gas fees of $75 + bundling a number of orders together and taking a small fee could be an interesting market opportunity.
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