I tried completing the assignment using the test environment suggested in the link, but it required me to input my actual bank card details, and I felt this rather strange for a sandbox-type test situation.
1 Like
Hey @AKotell, hope you are ok.
That is very weird, which link are you using for the compound vault assignment? you sure you have select the proper network (testnet, kovan or ropsten), because the assignment or compound does not deal with real money, we use the testnets so you dont have to use real money for this assignments.
If you have any more questions, please let us know so we can help you! 
Carlos Z.
Hi Thecil and AKotell, I think I experienced the same issue - when I entered the link to the Kovan test site (“https://oasis.app/save?network=kovan”) and then selected an option like “Start Now” or “open a Maker Vault”, it seems to go to the actual ‘live’ function. Actually i think I might have also accidentally burned some Eth making a mistake with a ‘live’ transaction before that (high gas fees and then a minimum limit of 2,000 Dai that can be generated to create a vault…) 
Hi All,
Currently it seems that the DSR is 0% and when using the Kovan interface you get a message saying that it’s not recommended because it incurs in gas fees. Same happens on the mainnet.
For all other protocols covered in the course the gas fees are so high it doesn’t really merit testing 
I have some ether and dai locked in a uniswap pool and have been struggling to find the right time to take them out to minimize gas fees (which at this point are somewhere around 100-200 USD to simply release my tokens).
This is definitely a big challenge for Defi built on ethereum at the moment.
THanks!
2 Likes
How did you access that older UI? I only see the new UI which only allows for 0% Dai Savings Rate
It seemed like the link went into a ‘live’ function for me and I’ve paused from there with the current ETH prices. I don’t want to burn any unnecessarily.
Well I tried to do as the assignment instructed but I realized that gas fees for ethereum are astronomical for an assignment task. So I did the next in the Binance Smart chain which is so cheap at the moment and it works to practice what we learned:
- I sent current BNBs from my Trust Wallet to the Pancake Swap Dapp
- Starting with BNBs I swap them for USDT and UNI then added liquidity to the pools BNB - USDT, BNB-UNI.
- The rewards will be given in the Cake token
- Then I added the Cake Tokens to a Pool that will farm Litentry tokens.
Was the most comparable thing I found for a cheap prices test, I promise I will do the Maker assignment as you requested as soon as Ethereum 2.0 is launched or when the gas fees get at a reasonable price.
1 Like
Liqwid.Finance defi project upcoming on ADA chain looks very interesting…
I know this assignment was posted quite some time ago near the beginning of the major price jump in Bitcoin and Ethereum. What are your thoughts on DeFi staking in the current crypto currency climate? How much longer do we have to wait for a launch of ETH 2.0? With the current fees and the onboarding of centralized exchanges into DeFi and the threat of regulation is it wise to wait for the altcoin boom to die out before staking with DAI? I also find it interesting how platforms are moving completely to Cardano from Ethereum. I hear most talk of new Dapps being crosschain so whould it make the most sense to develop a cross chain protocol?
2 Likes
So instead of using DAI and making deposits to be locked into staking I used a new platform with Binance Chain. I have been hearing great things from Ivan about Pancake Swap so i used some of my newly gained profit in BNB to gain liquidity in purchasing and staking in a pool on Pancake Swap. I invested about half of the CAKE token that I purchased to yield 0.01% of the pool. This liquidity allowed me to sign a yield farming contract to aquire more cake tokens. It is a high percentage yield APY but I figured why not take the risk because my initial investment was not all that much and mostly just part of my BNB profit that didn’t even exist a week ago. I also am looking into making a purchase of some Avalanche tokens and starting a stake in Pengolin on the Avalanche supported Dex. Maybe sometime in the near future I will focus on Maker Dao and converting my ETH into Dia and Compound staking but for now it just doesn’t make all that much sense for me to do it when the newfound diversity in Dex’s and ease of access in the Defi space makes other staking opportunities seem much more profitable.
1 Like
I like the idea. When it comes fully adopted it will be very interesting. The only thing is the access atm, people need to be educated properly to be able to use these tools. I don’t see the need to use banks anymore in the future.
It’s amazing what can be created, I used to work in the finance industry and my mind keeps getting blown away with the new concepts coming out.
Wow! So cool! DeFi Rulez!
Thank you for introducing us to this in your brilliant ways!
I played around with Compound and Oasis - only on Kovan for now until I feel I get the hang of it. Until now everything worked like a charm and the interest is growing my fake ETH and DAI. Unfortunately, ChaiMoney and YCurve do not support Kovan Testnet. Or am I missing something? @amadeobrands
I think the key difference here is that everything in the decentralized financed ecosystem is over collateralized whereas the financial crisis of 08 was due particularly in part to fractional reserve banking and therefore complete under collateralization of assets.
Thanks @amadeobrands for bringing us your knowledge in this course.
I have a question coming from Financial Risks in DeFi lesson.
Do you still recommend Oasis? Maybe I am not understanding something but it says on DeFi score that Oasis has a 0%rate. Why is it at zero? (it was at 7.7 during the time of the lesson recording)
1 Like
I did not mint any tokens but I did go into Oasis and check it out! very cool!
Do you think holding the private key for crypto will keep the general public from adopting crypto as mainstream?
In the governance section of MakerDAO, essentially is it like buying your way in to vote? If that is true, do the rich control what happens in the project? If MakerDOA is similar to the Federal Reserve, how is it different than what we have to today if the rich are the ones in control?
1 Like
I’m interested in finding a way to bring blockchain into industry. I’m exploring a way of populating raw materials and recourses required in real world industry, the a way Defi products have been able to evolve.
I wonder if the Defi protocol model could work in this application. I’m new to this, so I can’t be the only one that was wanted to try this or something similar. I greatly appreciate any input on this topic.
After giving it some thought I feel as if making these borrowing and lending transactions easier for the average person would add much value to the ecosystem. Perhaps there can be a protocol that aggregates the best lending rates such as y.curve and also allows for insurance to be easily bought along with your lending. Perhaps it can be included in the initial amount you would lock in. Essentially a one stop shop where you can lend and insure your contract all from the same platform which aggregates the best lending rates and insurance rates to go along with that contract.
Hey @MauBombay, @jumparo , hope you guys are great.
I was about to explain it but then I found this article which explain in detail about the Dai Savings Rate mechanism. I suggest you both to read it to understand why the APY is 0% for now. 
- https://ethereumprice.org/guides/article/dai-savings-rate-explained/
- https://defirate.com/dai-savings-rate/
If you have any more questions, please let us know so we can help you!
Carlos Z.
3 Likes
Hi everybody!
Amadeo, what do you think about the balancer protocol?
I have used aave in the past to lend some dai I traded on uniswap. Didn't really know where they came from at the time lol. Thanks for teaching!Also check the HTML skills I picked up following the JS course :rofl: :joy: