Using the DAI savings rate - Assignment

Defi 101 Course
#415

Hi Amadeobrands

Incredibly good course

A journey in the DeFi rainforest for to weeks but now the sun is bursting through but still much to learn. All this is fascinating, but we must remember the old proverb “collapsing like lego” this is still young. I tried me on the playground but had some problem with MetaMask , be back there with growing coding experience.

Building on top hmm… …dapp with a pool of unsolved assignments to challenge and incentivized the growing open crypto world, not the least for the poorest one.

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#416

Hi @amadeobrands, I started using Uniswap because of this course a while ago - using the protocol both for providing liquidity and swapping tokens. Turns out I was rewarded handsomely with the $UNI airdrop happening over the weekend. :slight_smile:

So all in all it’s been a great experience, I finally understand what a derivative asset actually is and have a better grasp at DeFi in general. Much more to learn, I am sure, but this course is a great starting off point.

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#417

let me just get this straight. Slightly off topic however, Can i hedge a traditional financial asset i hold such as gold or the S&P? buying a traditional put option on gold or market index can be cumbersome and tedious, are there any crypto derivatives as of date that can provide a put option on gold price for example? or a Gold inverse / S&P inverse. I understand that using Opyn i can hedge my crypto CDP to avoid liquidation

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#418

Amazing man it pays off to learn :smiley:

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#419

Does anyone else feel like they fell down a rabbit whole without a ladder to get back out? I have went over these videos twice and my mind just wants to glaze over. I have read most of the links and am now working through these forum posts.

I wonder if it wouldn’t just be easier to post step by step photos of someone opening compound, chai, comp, etc. Perhaps it is already here somewhere?

Its probably just my boomer brain in this millennial universe! LOL. Looks like I have lots more work to do to try to keep up with you kids!!!

4 Likes
#420

Hello @russcontact, hope you are enjoying the fall into the rabbit whole :parachute:, it will go crazy once you go into DeFi 201.

About those step by step videos you ask, Amadeo sensei has been starting to upload some tutorials on youtube: Amadeo Brands - ON DeFi

Also, you could find a lot of channels and videos on youtube, about many subjects, Example: ethereum compound [youtube].

Hope you find this useful.
If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

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#421

thanks Carlos, I will look into it!

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#422

This is the best reply I have seen out here. thanks so much

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#423

Hi! I am stuck doing this assignment… I’m trying to deposit my DAI tokens into Oasis. But for some reason, I get stuck at “Deploy Proxy”. I’m connected with my Metamask account. When I click “Setup” button at “Manage Proxy”, It give me “WAITING FOR CONFIRMATIONS” and looks like it’s stuck. Am I missing something? Thanks in advance for your help!

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#424

Hello, I have exactly the same problem with Proxy as @fukudancer.
Can someone help?

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#425

I was able to connect with Oasis via my Cold Wallet (Ledger). I still have not figured out how to connect via Metamask. I tried to refresh the page, refresh the cookies, etc… I was testing things out and didn’t realize that it costs to set up in the beginning. The initial fee was about 0.05 ETH. In order for the user to make gains with APY, he/she should deposit at least 1000 DAI to offset these transaction fees. I hear people saying about the costly transaction fees dealing with DeFi related projects/exchanges. I’m starting to understand.

When locking ETH in a Maker DAO CDP to borrow collateral to other protocols like DAI is attractive. Most people in Crypto think ETH token will become more valuable in the near future. If you can borrow more stable coins by collateralizing your ETH, you might be able to make the profit even bigger. However, you will have to do risk management of how much you will borrow, so that you will avoid to get liquidated.

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#426

Hi @katarzynagr1, I couldn’t connect via Metamask but I was able to connect via Ledger Nono X (my cold wallet). Still trying to figure out the issue with Metamask. If you find out, please let me know!!

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#427

My head is spinning. All I got from the lectures was that I need to look into these protocols myself. It was really difficult to follow what was happening in the lectures.

2 Likes
#428

HI,
I actually gave up on Oasis and used dYdX for depositing ETH and borrowing DAI - waited only few minutes.

2 Likes
#429

Won’t be trying it out, gas fees are still high at this time. Perhaps when it’s at a lower fee I will give this a go. Thank you for the deep dive!

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#430

First problem I had was the transfer from the exchange. Apparently the exchange sent the coins via a smart contract and Metamask could not see it. So I set up a Mycrypto wallet and moved the coins again, and this time I saw them in Metamask.
Then, as I opened the DAI vault the stabilization fee was zero, which threw me off course, but I guess this is what it is right now.
Finally, I moved the DAI to Compound and supplied liquidity at 2.81% APY.
I looked at Blockfi which reports 8.6 APY on stable coins and 6% on BTC, I realized this is a centralized entity with rehypothecation practices, so there is some risk there as well.
All in all, I guess this is a matter of individual risk-reward evaluations.

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#431

I used Kovan test network and all went smoothly. Only weird thing was that I didn’t earn anything by locking DAI in the DSR smart contract. I guess it’s due to using the test network.

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#432

HÆ Amadeo,
thanks for the course. Not easy, but I love the idea of decentralization. I will repeat the lectures one more tíme and than Í will start with a little amount.

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#433

I’m in a pool on uniswap eth-dai to earn some free uni :grinning: . Gas fees to high to play around to much.

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#434

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Did anyone else get this issue?

1 Like