/dog/ DeFi & Open Finance General - Smug rally edition

Link to yesterdays post: General information on DeFi and Open Finance

> defiprime.com/
> defipulse.com/
> loanscan.io/

What the fuck is DeFi & Open Finance?

It's the fucking next paradigm shift within Crypto.

No, really.

Loans, borrowing and lending possible at quite comfy rates. Sit back with little risk and see your USD appreciate. Or be some kid in Mongolia, Ulaanbaatar with a phone while investing in Synthetic AAPL or TSLA swaps. We'll see mortgages and pretty much anything else that a bank will offer be represented in DeFi and Open Finance; within just a few dozen trussless smart contracts. Question is not if, but when. Get familiar early.

> What's missing?

Off-ramps and Oracles

> How early are we

BTC in 2009 early. Prepare for some catastrophic failures.
But still go all in. Some of us will make it beyond their wildest dreams.

Attached: dog.png (893x1070, 326K)

Other urls found in this thread:

trackato.substack.com/p/quo-vadis-mkr
zerohedge.com/crypto/ecb-official-stablecoins-pose-risks-public-policy-priorities
devpost.com/software/synful-futures
twitter.com/NSFWRedditVideo

Unironically what do? Buy maker? Leave a couple grand in dy/dx?

Lots of options. You could buy some DAI and loan it at the best rates, which currently beats most banks. You could buy Kyber; as they are one of the largest liquidity providers and KNC is used to pay for cheaper fees. You could buy DGD, as their gold pegged token will become a DeFi gold standard if its up to Maker. You could go balls deep into Augur. Or you could go balls deep into Synthetix, while trading Synthetic contracts on their platform, or lend money to yourself on SNX without the possibility of being liquidated.

Probably forgot half a dozen options, but its hard to keep track off when DeFi projects keep popping up at every weekend hackathon. Alternatively, if things are still unclear, you could also just stick to LINK since all these DeFi projects in the end will be in need of Oracles. So far most of them are already partnered with LINK.

And well of course, go margin trade in the decentralized way without being blocked for residing in burgerland. Margin trading on smart contracts will also stop exchanges running of with your funds. You'll be trading on dy/dx while your funds will remain in your wallet. Hard to beat that.

I took this serious until you mentioned link. Fuck off loser

> Doesn't understand the importance oracles play.

Never gonna make it.
Just a sign of how early we are in this game.

Where do you expect these exchanges get their accurate pricing data from?
Oracles are a necessity. And whether you like it or not, LINK is the standard there.

LINK is the bridge that will connect all decentralized finance and asset protocols, brainlet.

trackato.substack.com/p/quo-vadis-mkr

If you are confident that DeFi is what will bring crypto to the mainstream, what would be accumulating now?
I expect LINK, MKR, RSR, and KNC. What else? EVX? NEXO?

btw there's #defi:matrix.org but it's currently dead. Would be nice if you could put it in the OP for the next thread so we can get some activity.

hard to say, considering that most of the DeFi systems are build up by dozens upon dozens of contracts which all may fail individually and rek any of these systems; it is a mine field. I'd create a portfolio where there is DeFi diversification. Re-balance monthly, keep an eye out on new projects. Stay in the loop about DeFi in general, right now there's not much more interesting in the scene.

My stack:

> MKR, LINK, KNC, DGD, MLN, SNX, REP.

Still need to read up on EVX and Nexo. But without doubt there will be dozens more to come.
As far as risks goes;Crypto by itself is a risky investment, DeFi is peak risk within Crypto.

OP here, now at work. Sure, I'll add it, keep the links and info coming, I'll try to make a more proper daily thread as info comes to me unless someone else wants to pick it up.

If you’re bullish on DeFi, buy ETH. Open a maker CDP. Mint DAI. Convert DAI to ETH on Eth2Dai. Deposit leveraged ETH into your CDP.

If ETH tanks, buy more with fiat and deposit into your CDP. If it moons, mint more DAI and repeat the leveraging process.

Also buy link pee pee poo poo

>link bad reee

Holy based! Thanks user. Today, I read something on biz that was not pozzed.

The safest bet is LINK. The best risk/return bet is also LINK. You retards with your shitcoin tier projects meanwhile you have the golden fucking goose in front of you spammed 24/7

zerohedge.com/crypto/ecb-official-stablecoins-pose-risks-public-policy-priorities

After having accumulated 10k-100k LINK its time to move on to other projects too. At some point you'll be a multi-billionaire if the oracle tells the truth. But there are other riches out there too.

I got my link bag fren. Diversifying is not a meme.

Defi is definitely risky due to the lack of a decentralized oracle network. If a contract gets hacked, you money goes bye bye.

How tf would Chainlink oracles protect someone from the contract getting hacked? Chainlink is great, I know. But this Link maximalism is retarded.

I hate to ask to be spoonfed, but could you possibly direct me to some literature tht breaks these steps down in a way a brainlet can understand.

I knew of a guy who was using his ETH through DAI to to p2p lending, but I didnt quite understand the process of how he did it, never had the opportunity to ask the guy again.

Many thanks user, I also held DGD for a good while because it was backed by something tangible.

Defisaver.com has a feature called “Boost” that can automatically do what user is describing.

I meant a centralized oracle being malicious by providing incorrect info to the smart contract.

Thanks, but maybe I should read in more depth for better understanding of the process, also I ask for literature just to save me some time reading through irrelevant info, we do drown in too much information these days, hard to find something uniquely concise.

>DeFi projects keep popping up at every weekend hackathon
exactly. this shit is going to be a dime a dozen. there is absolutely no reason why any one will take over the market. it is an interesting development that will be available in a shit-ton of iteratons on every fucking platform.

>If you’re bullish on DeFi, buy ETH
stupidest advice possible. DeFi CAN and WILL exist on every fucking platform in hundreds of iterations.

Seems like a good thread to talk about a hackathon project that really stuck with me, but largely flew under the radar
It was called Synful Futures and it came second (I think) in one of the Chainlink hackathons about a year ago.
>devpost.com/software/synful-futures
It's basically a smart contract that allows people to circumvent capital controls and "buy" stocks in overseas jurisdictions. Read through the simple description on that page to see how and why it works.
It blows my mind how a relatively simple smart contract that can call a stock price (using Chainlink) can singlehandedly completely bypass capital controls mechanisms that prevent people from jurisdiction A buying stocks in jurisdiction B. Not only that but the contract can be onsold which essentially creates a futures product. This is just a hackathon project, imagine what is going to happen when the really disruptive forms of this technology are deployed.

Yep

this is unironically why I bought REN. The ability to seamlessly interact with multiple blockchains via eth smart contracts and allow defi companies to accept and pay out in ANY crypto in a trustless fashion.