Purpose: Open CDP, generate DAI, park DAI.
I haven’t had this happen…
Did you work it out?
I generally use Metamask in the Brave browser or the dapp on my Android.
No.
Im familiar with MM and use it but not sure what happened here with Oasis.
I’ll just wonder is this is normal?..
All these protocols are great if you are rich and wish to pay high GAS fees. I have never opened a CDP with Maker or Compound. I started really experimenting with DeFi protocols when yEarn and Aave were hot.
I have a CDP opened in Aave and some DAI tokens earning interest on yEarn. I do not intend on interacting with other DeFi protocols for the time being. Principally due to the extremly high gas fees.
I will in the future, when Kadena and Cardano smart contracts will be made available, and some DeFi project running on them. The Ethereum dinosaur is very unimpressive and unadapted to the current state of things. From what I understand, their future upgrade allows for UP TO 100K TPS. Still very unimpressive when you know that Cardano’s estimates are 1 Million TPS and Kadena’s are 408K TPS.
But that’s how things work. Nokia was a leader in telecommunication. At its peak, the most innovative telecom company in the world. New actors came with better innovation and better products, better adaptability. To me, it’s just a matter of time before Ethereum disappears from the surface of the globe (5years?). Same goes for Kadena. I am not so sure for Cardano due to the high TPS (1million/s should be enough). If not, it will disappear too.
It is not normal that between Oasis and Metamask a charge is run without it being approved.
The ridiculous high gas fees for setting up a contract are common.
I set the gas really low and also try to do my contracts at less crowded times. They take longer and sometimes fail. The savings are worth the trouble for me.
Pop over to Honeyswap!
I feel you on that one.
No charge was actually processed. It just wont allow me to connect but again, I have used MM many times in the past.
I’ll just move on for now. Much to do.
Thanks.
I can see the importance of DAI and the exponential opportunities it provides. Cross boarder payments has always been interesting to me and I love that stable coins offer a non-political, middleman free, open and instant way of doing payment processes.
However until we see a more adopted scaling solution it’s almost impossible for 99% of people to afford just the initial setup fees.
I personally used the Kovan test net and grasp the concept easily. I still can’t work out why the DSR is 0%. I will stumble across the reason eventually.
Recently I saw a protocol on Ivan’s YouTube of multi-collateralizing several stable coins. I thought this was genius, it’s like stable coin inception for stability.
Given all assets are over collateralized, causing a deflationary market… I am curious to see the long term effects and how wealth disparity changes towards a deflationary market vs. inflationary. It’s a whole new real world game theory.
Firstly, I wanted to thank you Amadeo for the knowledge you are sharing! It’s still quite difficult to understand everything as I am a beginner in this thing!
Overall, this decentralized finance is a future i believe in. It can’t be ignored by everything whats happening in the world right now.
If we are talking about Maker DAO, it’s amazing that we can do so massive things like borrowing and getting a loan without a third man involved.
Still doing researches on new building blocks 
Awsome keep up the good work
Also my issue has been putting like 90 DAI in only, and needing to spend like 15+ to take it out,
This calculation determines to even do the “trades” I ll have to make 30$+ to just cover getting in and out, I considered putting 500 UNI in as its value is more then 90DAI but even this with the gas fees makes it unrealistic.
Going to be looking for the best and safest opportunity to start building ontop of roughly 2000$.
any idea please feel free.
Just a point of clarity. When you say we are interacting with a GUI and not the blockchain, then say we are interacting with the smart contract directly via Etherscan, this is not completely correct because Etherscan is also a GUI.
Thanks Amadeo I am learning a lot
I used kovan test network
I used compound and borrow 60 DAIs(ETH as collateral) , in oasis I used 30 DAIs for saving( I know I does not make any sense but is just for learn), and make some experiments on oasis trade.
sorry I cannot use metamask on Brave
I am not able to connect the COMPOUND app with METAMASK -
I am connected to site app.compound.finance as shown here -
It keeps asking to UNLOCK THE WALLET - any suggestions?
Thanks …
I think that crypto currency will eventually be the future of the financial system, but we still have a long way to go. The interest rates on some of these platforms are really good and with a lot of money it can create a huge return on your investment.
All of the options available to us in the crypto space for earning interest on our assets are fascinating. I believe it will be a long road for people to come around to learning how to stake and lend out their assets on Maker/Compound/Curve as so many people aren’t interested (even when it’s in their best interest) to learn something new.
We are all here at IOT Academy because we’re interested in learning and see an opportunity to be early in the market before the general public. I’m sure not many of us, if any, are financial advisors. Is there an opportunity to help other people (for a fee) that would like to earn money on their crypto but don’t want to learn how to do it themselves without putting ourselves at financial risk since it would be seen as financial advice? Sign waivers?
I’m an entrepreneur at heart and see through that lens first. I don’t see the world, or maybe at least Americans, wanting to learn to take control of their own assets.
I have been exploring after watching the lectures and reading people’s posts. Due to the high gas cost of using ETH as collateral to generate Dai, the necessity of watching over the liquidation price as compared to the current price of the ETH collateral, the variability of the Stability Fee, and the fact that I’m working and going to school and don’t have time to oversee the account, I’ve decided not to do it. I was using my MetaMask and saw the Kovan Test Network and I wanted to use some fake Dai to experiment in Oasis, but I didn’t find a way to do that. I’ve been learning a lot while exploring and reviewing and have come across some crazy “hole in the matrix” kinds of things like iearn.finance being the subject of an investigation:
Here is a graph of how much ETH fees have sky-rocketed since July, we’ve actually gotten a great break from it in October:
I see you’ve shown a way to use Kovan with Oasis, I’m certainly going to do that and report back! 
So, I’m wearing my big boy pants and partially started a vault, but I need more ETH to generate the minimum of 100 Dai to start a vault. I think it is worth the investment. Why? College books used to cost that much and much more, so I’m paying for the learning experience and who knows where I’ll go from there?! 
I’ll have to go through the machinations of getting more ETH in there now, but making good progress at last! 
(continued) Decided the liquidation rate issue will likely cause me to lose more money and I’ll already put a bit over $50.00 into the Oasis app. I’m not going further for now. It looks like Oasis will hold it there or eventually eat it. 
Since this does not represent any kind of “financial oasis” for me at the time and is instead more of a desert…Lol. I’m abandoning ship! I was warned, it was interesting. Anyway I’m pressing on with the exercise using one of the test interfaces then I’ve got to move on!! 
