I will have to drive a lot deeper on the subject, just trying a few different things I’ve already lost $100 some due to my mistakes taking too big a risk, luckily i have put a Lil in pool together so hopefully that pans out lol. Even though i started earning interest in compound it only took a sec to lose all that i have gained and more, guessing due to market fall. Will require a lot more studying.
Interesting that as of now you can get a Maker CDP with a 0% interest rate. Guess this is because of the price spike in Dai and they want to give people the opportunity to get these cheap loans to get more Dai into circulation to get price closer to 1.00
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Highly enjoyed this course! Would have never tried these tools out if it wasn´t for the great explanation @amadeobrands. I hope to keep practicing what I´ve learned and continue diving more into the DeFi space.
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@amadeobrands
Hello,
I managed to get 1 ETH for the testnet and also created a vault successfully.
But I didn’t manage to get the DSR-Demo working.
I have already Node.js installed on my computer and received the following output using npm and yarn:
However “npm start” and “yarn start” didn’t work so well:
What am I missing? Do I have to install (https://github.com/makerdao/dai.js/tree/dev/lib/dai-plugin-mcd) as well?
Thank you in advance for your help.
Best regards
Ouzo69
In the meantime I decided to figure out my problem on my own. In the following I will explain how I tried to solve my problems:
I setup an react environment according to this manual: https://www.tutorialspoint.com/reactjs/reactjs_environment_setup.htm
In step 9 this “Hello World” like in the image below didn’t work.
But I went on with the instructions and step 4 in “Using the create-react-app command” worked well.
So I created an empty “my-app” due to the manual and then I overwrote the code of this empty app with the code in the directory “dsr-demo-master”.
In the image below from the maker website it is shown how to install and import the @makerdao/dai module.
I got a compilation error, because @makerdao/dai could not be resolved.
Does anybody know how to fix this? Help will be appreciated.
In order to mitigate this error I changed the code of the web3.js file in the following way:
From
// Dai.js
import Maker from '@makerdao/dai';
to
// Dai.js
import Maker from '@makerdao/dai-plugin-mcd';
I am not sure if I should do this, but at least I received different error messages about missing modules, after executing “yarn start” in the “my-app” directory. Several modules were missing, so I installed them with the command "npm install --save-dev ".
In the end I got a browser window full of error messages:
▶ 21 stack frames were collapsed.
Module../src/index.js
C:/Users/ahansch/Documents/Ivan_on_Tech/DeFi101/my-app/src/index.js:7
4 | import App from './App';
5 | import * as serviceWorker from './serviceWorker';
6 |
> 7 | ReactDOM.render(<App />, document.getElementById('root'));
8 |
9 | // If you want your app to work offline and load faster, you can change
10 | // unregister() to register() below. Note this comes with some pitfalls.
View compiled
__webpack_require__
C:/Users/ahansch/Documents/Ivan_on_Tech/DeFi101/my-app/webpack/bootstrap:784
781 | };
782 |
783 | // Execute the module function
> 784 | modules[moduleId].call(module.exports, module, module.exports, hotCreateRequire(moduleId));
| ^ 785 |
786 | // Flag the module as loaded
787 | module.l = true;
View compiled
fn
C:/Users/ahansch/Documents/Ivan_on_Tech/DeFi101/my-app/webpack/bootstrap:150
147 | );
148 | hotCurrentParents = [];
149 | }
> 150 | return __webpack_require__(request);
| ^ 151 | };
152 | var ObjectFactory = function ObjectFactory(name) {
153 | return {
View compiled
1
http://localhost:3000/static/js/main.chunk.js:833:18
__webpack_require__
C:/Users/ahansch/Documents/Ivan_on_Tech/DeFi101/my-app/webpack/bootstrap:784
781 | };
782 |
783 | // Execute the module function
> 784 | modules[moduleId].call(module.exports, module, module.exports, hotCreateRequire(moduleId));
| ^ 785 |
786 | // Flag the module as loaded
787 | module.l = true;
View compiled
checkDeferredModules
C:/Users/ahansch/Documents/Ivan_on_Tech/DeFi101/my-app/webpack/bootstrap:45
42 | }
43 | if(fulfilled) {
44 | deferredModules.splice(i--, 1);
> 45 | result = __webpack_require__(__webpack_require__.s = deferredModule[0]);
| ^ 46 | }
47 | }
48 |
View compiled
Array.webpackJsonpCallback [as push]
C:/Users/ahansch/Documents/Ivan_on_Tech/DeFi101/my-app/webpack/bootstrap:32
29 | deferredModules.push.apply(deferredModules, executeModules || []);
30 |
31 | // run deferred modules when all chunks ready
> 32 | return checkDeferredModules();
| ^ 33 | };
34 | function checkDeferredModules() {
35 | var result;
View compiled
(anonymous function)
http://localhost:3000/static/js/main.chunk.js:1:83
This screen is visible only in development. It will not appear if the app crashes in production.
Open your browser’s developer console to further inspect this error. Click the 'X' or hit ESC to dismiss this message.
Compared to the beginning I really made some progress. However at the end of the day things still are not running, which is very frustrating after all these hours I invested in the solution of my problems.
If you can help me or give me a hint to solve my problem running the DSR demo, I really would be very grateful. Maybe many have some deeper knowledge about JavaScript and have an idea where to look at next.
Best regards
Ouzo69
2 Likes
I deposited 30 Dai in Oasis on 02.05 but I do not see any interest accumulated . Is that correct?
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This is all really interesting and it so great to see how the ethereum blockchain is being used so creatively and with obvious functionality already in place!
I am wondering about how the gap will be bridged between this technical level we are currently at and mass adoption. I mean will I be able to spend DAI for daily transactions for food or fuel or rent payments?? How can we extend what we currently have onto two way fluid crypto to fiat transactions? Would it be the case that we need to build the infrastructure in crypto accepting forms? For example stablecoin only online retailers?
I see this space as very experimental at the moment and there is some uncertainty about where we shoulod be going. Should we look to replace traditional finance for example? Or should this be a smaller off the beaten track area of finance, limited to quirky folks online. I mean how useful is a 5% interest rate if ultimately it is complicated to ever spend the earnings in a functional way? How would I buy groceries with DAI? Or gas or a house?
Cheers,
Jamie
2 Likes
Really enjoyed this section. So happy to see the blockchain growing and offering so many great utilities. Honored to be a part of the growth.
I moved some ETH into Oasis and Maker Dao. They are offering 0% interest now, since the COVID-19 crash. Chai is at 0% too. I read this at DeFi Rate:
Last night, members of the Maker team proposed an immediate Executive Poll to try and stimulate Dai supply as a means of rebalancing the system.
“Dai is facing a severe liquidity crunch. The Dai peg has been trading as high as $1.10. Dai generation from Vaults is low. Many in the community are buying Dai in order to participate in this upcoming Thursday’s MKR auction. Some are accumulating in order to pay down Dai debt in preparation for another downturn in the Eth price. There is an extreme ecosystem-wide shortage in the Dai supply.”
More info here - https://defirate.com/maker-dai-shortage/
I also opened a small collateralized debt position at Maker Dao. I minted a conservative number of SAI keeping my collateralization ratio at around 277%. I moved my SAI to Kyber and purchased KNC. I might cost average into KNC in the future, using my DSR at Oasis.
I found the CDP Portal at Maker Dao to be less than perfectly intuitive. I was a bit unsure about the differences between Close CDP, Pay Back and Unlock. There were no tooltips to guide the user along.
Thank you,
Claude
2 Likes
In my opinion, yes we Certainly should replace traditional Finance. Immediately!!
FIAT should go the way of the “Stuck in the Mud” concept, and people who dont find the exit strategy of Digital, Immutable, Public Blockchain, financial technology.
Of course thats why I am here BuidL Yeahh yeah
I can easily see a future where the stores, landlords, even banks will take and use a Handfull of Digital Tokens, like Bitcoin, Ethereum, Litecoin, and Dash
some of the DeFi Contracts have yet to really go through the tests of Time so, its a waiting Game
Its a fight to the Top at the moment
2 Likes
will be back to test, with your videos i can easily go back and follow your instruction, and that surely amazing! anyway i am thinking about how every token/coins always rates in Dollar, cant it be in the future with the other more exact (supply and demand) values, such as the energy or mineral and the resources around used around them in real time, will it happen?
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This is an interesting topic but the whole process of using MakerDao and Dai is way to complicated for anyone not in tech and not financially literate.
2 Likes
Hello Amadeo, great to see all your interactions in here!
Seems like there are quite a few MakerDAO apps, Oasis is pretty basic but probably easiest, Zerion interface looks nicer, DeFi Saver has leverage, so does InstaDapps! Do you see a clear “best” here?
Thanks for all you do.
2 Likes
There are definetly some interesting opportunities with CDP. 8% interest is amazing… I mean If I made a $1,000,000 convereted it to dai and put it in the lending pool I would be making $80,000 a year without lifting a finger… If Im not mistaken. Another benefit of colateralizing your tokens to borrow dai would be to buy a seperate asset that will appreciate enough for you to pay back the loan and make a profit while your initial collateral continues to appreciate.
4 Likes
How come the Maker Dai savings rate is at 0.00 right now? the problem with all this is its all dependent on gas prices. theres an abundance in slippage through gas prices per transactions.
I love all these protocols, I’m especially interested in Synthetix. the idea of being exposed to BTC in the Ethereum Defi space is not only exciting but may open up a great deal of liquidity. This course is very informative and eye opening
2 Likes
I definitely agree that DeFi is the way forward and I am really excited about how the world can be and is changing with everything that is going on in crypto at the moment.
I have this thought in the back of my mind - I work in mechanical engineering and you would be amazed by how many of my colleagues look at me like I am reckless and crazy for being invested in bitcoin (let alone cryptocurrencies like ETH!). I wonder how the world is going to adopt this new and better technology when so many people seem to be asleep to the changes that are going on. Even in tech savvy fields like engineering the vast majority of people that I have met are really ignorant. They’ll invariably respond with “Bitcoin crashed and is worth nothing now”, or “Its too late to buy bitcoin” or “That’s just a ponzi scheme, you should get out ASAP” or “I’ll need to read about it, but…”.
Of course, maybe this is a great sign for us. Maybe we are still super early and will become very wealthy with our “reckless” investments… 
4 Likes
Hi Amadeo,
Thank you for your valuable content.
Just created some DAI by depositing ETH.
And now my DAI is working for me with a savingsrate of 2%
The opportunity that I see here is building a user-friendly GUI on top of the oasis Dapp.
And then make smart contracts that give people the opportunity to make 0.5 % interest on their deposits. f (x) = (x-0.5%)
It will be a better return than the bank and both parties are happy.
This is of course an idea for a risk free environment.
Maybe when the DeFi space is a bit more stable and mature this could be a realistic opportunity
2 Likes
I had a great time using the Kovan Test Network to interact with the Maker DAO and Compound smart contracts. It was amazing to see how I could use the Dai I borrowed from Maker DAO to be used on the Compound network, which had a better savings rate. I plan to play with it more before I am confident enough to use actual tokens.
I appreciate the contributions and knowledge being shared by the community. There are
1 Like
Many thanks for the DeFi 101 course.
-
Are n’t we going to end up with centralised brokerage houses dealing with DeFi applications on
behalf of less knowledgeable clients all over the world? -
Many DeFi pilot programmes will be required for the average DeFi applications user to trial and
provide feedback to DeFI applications developers for mass adoption to take place.Idea: My immediate idea is for us to create new DeFi building block Applications on top of all DeFi
Applications/Protocols that can promote, organise and carry out these pilot programmes and
trials. -
Idea : We Create new DeFi building block Applications that directly link across to the present
Centralised Financial Sectors and Financial Media Outlets and encourage customers to
transfer over to DeFi applications, in order to provide a service and promote mass
adoption of DeFi.Regards Bifin.
3 Likes
I’ve learned a lot in the past few days! Thank you @amadeobrands. Waiting for DeFi 201 now 
I’ve used the Kovan test network to interact with oasis and compound. I will interact with real ETH in the future for sure but for now, I just wanted to test.
Minted 1 KETH to the Kovan address: https://kovan.etherscan.io/tx/0xa05bb63cf95ebe89db6b301f4ea93c77b420186df39c8310d1c17df3cf7cbbd9
Then used Oasis to borrow some DAI (35 DAI with a collateralization ratio of 300%):
And finally interacted with DSR and Compound and locked some DAI there:
3 Likes
When locking Etherum in a Maker DAO CDP and then borrowing you collateral to another protocol do you see any interesting market opportunities? Or do you have any cool ideas of new building blocks that we can build together let’s discuss it in this forum thread. No. and no. I wish I could. [lfsvamaral] that was incredibly helpful!
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I have minted some Dai on Oasis. I created a CDP. I parked some Dai acuring interest in Oasis and now in Compound through Kovan. Not exactly sure what I"m doing. And it’s happening! lol. I don’t know how to access the site without using the link below the coarse. I get virtually same screen. but it won’t accept my wallet When i attempt accessing site on my own? Works fine when I use link below assignment. I don’t know how to take pictures of pages like to show my etherscan info like Ifsvamaral did. that was very helpful for me. I am not comfortable or fluid in my use of this yet . Yet progress! lol. Don’t know if i can replicate in the real world? I think this is enough to satisfy the requirement for the coarse. Although I would like to play/learn more. I also created a type of Dai in Oasis under “trading” it shows as a different Dai in my metamask wallet from the Dai I put in the DSR? I don’t know how to convert it back or anything. Any advice would be appreciated. @amadeobrands This coarse was the most challenging thing of done in years…maybe decades…lol…amazing info. thank you!
1 Like