Using the DAI savings rate - Assignment

I have recently dabbled with Oasis. I looked into Chai and it looked sort of dead as compared to when you mentioned it in your video. I will go into compound as I can acquire and allocate more funds to the MKR protocol. I also have opened a binance account and have to wait for approval before I can trade. This is all very new and exciting.

Hi All,

Can anybody help me with this please?

I’m experimenting with the kovan Etherum network (https://oasis.app/save?network=kovan) and everything was going smoothly until I tried to source some KETH and now cannot get past the following issue.


I’m most likely just being a totally numpty but, after several attempts, I cannot find the solution.
Any suggestions please?

Thanks

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Hey @SimpleSimon, hope you are good.

Check this reply, we some times faucet does not work properly, maybe you should try with another one :nerd_face:

Carlos Z.

I followed the steps to saving in Oasis in the previous lecture and I am disappointed to say that the gas fees were really high through every transaction (setting up metamask, saving ether, etc) then seeing my funds were increasing at 0% annual rate :neutral_face:… so that left me discouraged and unable to fully follow the steps in this last assignment. It was my understanding that these courses could be followed easily by someone with zero experience.

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ey @Cryptugalia , im also thinking to lend sUSD , how is your experience with AAVE vs Staking on Synthetic?. Also just wondering hhy APY is so huge on this coin. :thinking:

HI there Amadeao
thanks for a great course that is filled with excellent content! However I am a big newbie to crypto AND the markets. Any suggestions on books/youtubes etc… to understand this material for a complete NEWBIE??

I used the Kovan test network when trying out both the Oasis app and Compound. I noticed that I didn’t receive any cDai when supplying Dai on Compound (maybe it only shows on the mainnet?). As for ideas, perhaps expanding on the number of supply/borrow tokens on Compound such as Chainlink, Uniswap etc. or maybe implement/create a stablecoin that’s backed by a commodity such as gold instead of US dollar.

Thanks very much Carlos.
I’ll give them a try and let you know how I get on.

Thanks again,
Simon :+1: :grinning:

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Hi @amadeobrands! Thanks for the excellent course - I really enjoyed it!

There were some issues along the way (some things have changed regarding Dai since March, as far as I’m aware, so I’m presuming that’s why the DSR was set at 0% after I’d set everything else up), but I was able to do some Kovan transactions using the Oasis.app, which was great.

The Dai got stuck after I tried to save with it, but, again, I think that’s because of the changes to the protocol since the creation of the course.

I look forward to trying out some of the other DeFi protocols for lending and borrowing when my wallet is a lot heavier! :sweat_smile:

Thanks again!

PLEASE HELP.

I put about $300 in the DIA vault on Yearn.finance.

I can now NOT withdraw my funds. My total balance shows under “transferred out”. What is the meaning of this?

Hi,

I tested compound when it appeared but most of these protocols arent good using ETH Gas, most of the times the gas amount to deposit and to withdraw is to high which will make most of these deals bad.

Now this working on xDai chain and pegged to xDai would make alot more sense, since the fees are lower and stable, that would make deposits and withdrawals easier and accessible to everyone reaching more people.

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Completed the exercise using Oasis on Kovan Etherum network. The process was easy to follow.

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Ok I took a shot at it. Conveting Eth into some DAI and was going to borrow so more DAI using Eth as collateral to buy some loopring coins in zerion .

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have you checked the contract at etherscan.io?

tell me more about this

What a lot of possibilities there are in the exciting world of DeFi. I’ve minted some DAI and had some Chai and also looking at curve.

I think there is an opportunity to both profit from possible increase in the value of the locked assets and at the same time having the possibility to create some liquidity when needed by borrowing against them.

Unfortunately this seems to be a rather fruitless exercise at the moment as even the Kovan testnet version of Oasis has a 0% interest rate. Really don’t see why having a positive interest rate on the test net would have caused any issues and it makes it less useful as a test environment, but you can only use what your given.

I did at least mint dome DAI on the test net but so no point in creating a 0% interest CDP … I can’t even what my pretend balance going up!! :frowning_face:

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When locking Etherum in a Maker DAO CDP and then borrowing you collateral to another protocol do you see any interesting market opportunities?

  • Yes for example , its a way to lock your ETH as it will pump over the time , while you get DAI
    ,USDC or any other stablecoin for trading or even for holding , as Ethereum is supposed to pump more than % borrow APY (what you will pay for your new token).

ey @OkkerB , did you be able to figure out this? i wonder if those funds you sent have already been borrowed by someone , so you cannot withdraw them. When you would be able to withdraw? good question , i understand when those funds are back? Its an interesting topic…

A stable return on investment of 8% is amazing. But I second some of the opinions here. it is way too complicated for it to become mainstream. Maybe one of us in this course creates the usecase and app that simplifies things enough for mainstream use?