Using the DAI savings rate - Assignment

Defi 101 Course
#66

@Web2Hotel has a GREAT breakdown right above you! NICE I will copy his message but please reach out to him/her as well.

Teamwork makes the dreams work!

I decided to use a testnet because I lost already too many real tokens trading… :relieved:
Sorry to use the forum as a notepad to report step by step my first time in defi…
I created a GitHub account, switched Metamask to the Kovan blockchain used the https://faucet.kovan.network/ giving my address in that test network,
in https://oasis.app/?network=kovan connected the MM wallet, clicked start, deployed proxy (spending 0.009476 kETH), allowed Oasis to manage my kDAI (0.0011 kETH). Clicked borrow, get-started to open your first Vault to start generating Dai, selected ETH-A as collateral, Depositing
0.97 ETH, Generating 56.15 DAI, Collateralization Ratio 228.16%, Liquidation Ratio 150.00%, Liquidation Price $86.82, Liquidation Fee 13.00%, Stability Fee, 4.00%.
Clicked open-vault, confirmed on MM AMOUNT + GAS FEE 0.986637 and with the transaction:
https://kovan.etherscan.io/tx/0x22e7eef8c393313d1fa70348bc7b1e70af0b853e9e5385f710195a9b16b629f4
56.150 DAI appeared in MM.

#67

very nice! i like that u sed it as a note pad lol

1 Like
#71

Hello everyone, was able to open a vault, generate DAI, put it into savings on the Oasis Kovan test net ! I’m curious if anyone knows how long the DSR on oasis will be at 0%? While those who deposit Dia receove 0 interest, Does this mean without a stability fee that you can create a CDP and generate Dai at no interest (a 0% loan)?

I know this has to do with the rapid dump of ETH a few weeks ago where they had to do this. I’m getting ready to dive into the many articles about MKR.

#72

Amazing opportunities on defi except the liquity but over time will be more participants. Just used uniswap to swap eth for dai and pledge on Aave smart contract and receive a bit of interest after withdrawing a see a bit of fees normally below $0.50 and varies in different DeFi dapps cost. Using high gwei will speed up the process of exchange. Now I need to do more research which token to pledge for 30 days or more and borrow from it to make a short term trade and pay back later. :nerd_face: :100: :muscle:
Metamask is connecting pretty good after disabling the brave wallet function. So things are progressing slowly but surely.
0x0F995d2c681d854661B35319F8DF0D8048b1a44F

#73

Hey @amadeobrands. Here is an idea for Maker and Compound. When we move to Eth2.0, why not use collateral for staking and increase interest for suppliers and decrease interest for borrowers? Or even put it as an option for people to improve their ROI.
What could be the possible risks of such a scheme?

1 Like
#74

Hi Amadeo,

What do you think is the reason behind 0% interest on Oasis?

#75

If you have enough ETH I think it is interesting. I don’t think it’s difficult to start saving, lending or borrowing in DeFi, but that’s just me. I tried teaching my dad how to, and he told me he was going to read more about it. The field is new, and there’s a lot to improve, it will be amazing to see, and even more amazing to be a part of it. Thank you @amadeobrands . I might shoot you an email or a DM to see if you might be interested on giving a speech on DeFi here in Panama, a growing economy with lots of improvements to be made, implementing DeFi here would be great.

#76

Sounds like an issue in the java script to me. Hmmmm

Im Still investigating

Keep us posted I’m sure you’ll have a breakthrough soon

#77

That is amazing stuff man :smiley:
Keep in mind this is still very dangerous and now with current price movements you got super lucky congratzz :D:D

BUT WATCH OUT IF ETH DROPS YOU CAN GET A BIG LOSS.
I use https://defisaver.com/ to keep track of every thing.

#78

Please do watch out to not use real funds for this …

#79

Amazing always would like to support especially when it is for people that want to move away from their corrupt financial system.

#80

hello Amadeo , great course !
so I will just state what i have done as it has been a bit confusing…
so first I open a makerCDP in which I stake 1 ETH and minted 100 SAI ( it gave me sai and told me to migrate them to DAI but the migration server was unavailabe and told me to use some decentralized exchange . Had some problem with uniswap and went to 1inchexchange and swaped 100 SAI for97 DAI
then I go to compound and I enabled the DAI as collateral and put all my DAI in the pool and got 2.85API and I saw I got the cDai now
what did I do wrong ? thanks in advance :slight_smile:

compound
compound1920×1080 247 KB

1 Like
#81

Hi All,
just a single question. I’ve opened a vault on oasis (kovan testnet) and borrowed 30 dai from a 0.6 ETH colleteral. I tried to repay directly (just what to check how much it costs if I start and repay directly), but oasis just let me repay a maximum of 10 dai ??? Any idea ?
Or is it just a testnet problem ?
Thanks a lot.

image

Ah, problem solved.
I wasn’t able to repay all plus the minimal created debts of 0.000003 (which are not shown in the Outstanding DAI debt amount) and it seems that 20 dai is the minimum vault size. Thanks anyway ;-). Sometimes it is helpful to talk/write about problems.

4 Likes
#82

I’ve tried with oasis and compound.
Deposited my ETH and generated Dai from it.
Because now DSR is 0% but i did not realize until i deposit my money, i’m not making any money.
However, Compound is still having 3.58% so i have put my Dai there instead.

A lot of fees involved though due to the actions to open vault, etc but overall good learning experience.

3 Likes
#83

I dropped some cDAI into my contracts as a way that the contract can earn!

problem is that cDAI was not in my idea when the contract deployed therefore the earnings will be stuck as well as the cDAI, but its a way to make the contract earn money, just need to get a way to have transfer of the tokens and eth out of the contract

have a look
0x8825026b162401CC50F2a614A1c2354aA59e8496

1 Like
#84

its a work in progress but each erc-721 should be (can be) / (fully custom) a store of value erc-20’s

0x73cc407fbae89d69f20cf15d51aa98171dc5703c

can drop the cDAI in or whatever you want like just pile in some erc20’s then send it to your friend or whatever , keep the tokens outside your own or your business wallets

just a way to do things

2 Likes
#85

any thoughts on HEX? what i like is that its independent of oracle like my Work

SecurityToken series

#86

This is so much fun! Can’t wait for DeFi 202. In the meantime, I am going to read through all the material you have linked throughout the course (I wanted to watch the videos first to get a comprehensive overview).

Now I am going to do some (de)financial experiments. :wink:

2 Likes
#87

Hi Amadeo

Thank you for informative content. Well I dont see any other market opportunities. Was thinking about desentralized betting but I see that Augur is big on that.

1 Like
#88

I love all the work that is being done on DeFi. It makes the whole concept of saving and lending money so transparent. I think it seems complex at the moment but I think eventually developers will figure out a way to simplify this (I think this will be key to widespread adoption). For me personally this feels like a fun game to play with money but we need to be careful. If DeFi technology gets adopted on a large scale I feel like there will a bunch of future careers that will open up like DeFi financial advior, Defi algorithm experts, etc. I feel like if we can establish a track record of safety in this space and improve security overall, this would appeal to very large amount of people.

2 Likes