Investing

The RFD - Cryptocurrency Mega Thread

Deal Fanatic
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Dec 14, 2010
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deger wrote: I find it interesting how the interest earned from swaps and loans is relatively low compared to staking for governance tokens and selling it. They governance tokens have value mostly because there is another person willing to speculate on future value of the token. Bar that some token will pay out some earnings from protocol. Sure it allows one to participate in and vote on the feature direction of the company, but I don't think people are paying for this privilege but rather for speculation. As a governance token farmer you can choose to hold and speculate or cash out.

The other value I see is if the protocol's cash flow grows and more earnings are paid out to the gov token holders which should increase the token value. But given the high APY yielded from selling some gov tokens like CRV using yearn (90%apy), I can see why one could cash out now rather then hold.
Many are holding so they can let that compound. It also increases the voting power so that rewards can be directed to the pool interested to them. Plus, a lot of CRV is being converted to veCRV and locked to boost these returns. You can boost up to 2.5x, so some pools are paying 220% interest on stablecoins and 120% interest on BTC pool. It also allows the community to vote and determine where rewards will be spent, or other additions.

yETH vault is coming up, which will be a great way to earn interest on ETH so it can auto generate the money to pay for gas fees. And yYFI is being changed now that Aave has listed YFI, allowing one to lend and borrow to earn interest on the governance token (which should increase interest and price further, since there’s only a limited number of this token and it won’t be minted anymore, as per decision from last vote from the community).


Rod
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Newbie
Jan 1, 2008
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It blows my mind. I am trying to learn the basic and it keeps changing. So I can buy crv, lock it in for a 1 year and earn up to 2.5x more crv for staking lp tokens. A couple of days ago I didn't even know what ETH was and my initial impression is mstable, curve.fi, yearn have been around for years only to find they are months old.
Deal Fanatic
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Dec 14, 2010
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deger wrote: It blows my mind. I am trying to learn the basic and it keeps changing. So I can buy crv, lock it in for a 1 year and earn up to 2.5x more crv for staking lp tokens. A couple of days ago I didn't even know what ETH was and my initial impression is mstable, curve.fi, yearn have been around for years only to find they are months old.
Right, you can farm crv (not necessarily buy it), lock it (up to 4 years), and boost your return while having voting power to drive how the pool should operate.


Rod
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Deal Addict
Aug 1, 2006
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rodbarc wrote: Right, you can farm crv (not necessarily buy it), lock it (up to 4 years), and boost your return while having voting power to drive how the pool should operate.


Rod
More new liquidity pools coming out, check out the Spartan protocol from Binance:
The Spartan Protocol provides incentives to enable deep capital formation in liquidity pools, with safe and sustainable creation of synthetic assets.
Overview
The Spartan Protocol will be the first major liquidity project on the Binance Smart Chain. Supported both by Binance, as well the holders of tokens from 30 existing Binance Chain projects.
Spartan
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Jan 1, 2008
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Wanted to farm mta and crv but gas prices are preventing small fishes. There is no way around this right?

Also, when I withdraw from the yearn y vault I should get back yCRV correct? Its bit confusing withdrawal page shows xxxxx yUSD (xxxxx yCRV) which seems to say I'll be getting back yUSD.
Deal Fanatic
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Dec 14, 2010
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deger wrote: Wanted to farm mta and crv but gas prices are preventing small fishes. There is no way around this right?
You can either mint gas yourself or buy Chi to save in gas in 1inch. Real way around is for these strategies to start using L2, as they are available today, like zKsynx, OMG or LRC. Deversifi allows to trade in L2 with almost no gas, so hopefully these tokens get listed there.
deger wrote: Also, when I withdraw from the yearn y vault I should get back yCRV correct? Its bit confusing withdrawal page shows xxxxx yUSD (xxxxx yCRV) which seems to say I'll be getting back yUSD.
Correct, yCRV is like a pegged US$ coin with interest, also known as yUSD (not to confuse yUSD from Uma project which pegs to ETH). So you get back yCRV which really yDAI+yTUSD+yUSDC+yUSDT.

yVaults is the cheapest way to farm because the vault costs single digits in gas and you can swap to ycrv and back to stablecoins using uniswap instead of Curve, which is another single digit transaction.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

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Newbie
Jan 1, 2008
99 posts
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The problems of being your own bank... Your banking terminal can be compromised...

C&P from https://www.reddit.com/r/Bitcoin/commen ... y_careful/ :

WARNING!Please guys be extremely careful!
I hope my story will help some of you to never repeat my mistake.

I just got scammed the way I never even thought is possible ( some of you might heard about this but I never heard until today).

Decided to cash some money out thru Coinbase, logged-in and copied BTC wallet address thru built-in Copy function as it shows on the screenshot below.

Logged in Binance to sent the BTC to Coinbase and just pasted the address from the buffer without second thought. Pushed the transaction. 1hour later I realized that its different address and only first 4 symbols are same. Somehow my copy-paste buffer changed the address from right one to wrong one.

Money lost. No way to recover it. Please dont repeat my mistake do not blindly trust to copy-paste buffer , your computer could be infected with malware that swaps addresses and it will be too late when you realize that.

P.S:

Since Coinbase not showing whole address and first 4 symbols were the same it was very easy to overlook

P.P.S:

heres the "wrong address" https://blockchair.com/bitcoin/address/ ... 233jgmViXd you can verify with a screenshot that first 4 symbols are same and last 4 hidden.
Deal Fanatic
User avatar
Dec 14, 2010
6085 posts
6963 upvotes
deger wrote: The problems of being your own bank... Your banking terminal can be compromised...

C&P from https://www.reddit.com/r/Bitcoin/commen ... y_careful/ :

WARNING!Please guys be extremely careful!
I hope my story will help some of you to never repeat my mistake.

I just got scammed the way I never even thought is possible ( some of you might heard about this but I never heard until today).

Decided to cash some money out thru Coinbase, logged-in and copied BTC wallet address thru built-in Copy function as it shows on the screenshot below.

Logged in Binance to sent the BTC to Coinbase and just pasted the address from the buffer without second thought. Pushed the transaction. 1hour later I realized that its different address and only first 4 symbols are same. Somehow my copy-paste buffer changed the address from right one to wrong one.

Money lost. No way to recover it. Please dont repeat my mistake do not blindly trust to copy-paste buffer , your computer could be infected with malware that swaps addresses and it will be too late when you realize that.

P.S:

Since Coinbase not showing whole address and first 4 symbols were the same it was very easy to overlook

P.P.S:

heres the "wrong address" https://blockchair.com/bitcoin/address/ ... 233jgmViXd you can verify with a screenshot that first 4 symbols are same and last 4 hidden.
Absolutely. When you can make money permissionless you can also lose it permissionless. Malwares like this are very common now. It’s paramount to always check initial address digits and final address digits. A hardware wallet shows the real address on the physical device so you can reject if it doesn’t match to where you intended to send.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Deal Addict
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Nov 6, 2013
1350 posts
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Toronto
rodbarc wrote: Absolutely. When you can make money permissionless you can also lose it permissionless. Malwares like this are very common now. It’s paramount to always check initial address digits and final address digits. A hardware wallet shows the real address on the physical device so you can reject if it doesn’t match to where you intended to send.


Rod

One of the things I live about hardware wallets and why I advocate investing in those to friends.
Newbie
Jan 1, 2008
99 posts
22 upvotes
I'll buy hardware wallet a soon as a make the earnings in defi to cover it.

rodbarc wrote: Correct. For step 3, convert TCAD to a US stablecoin, then sell to fiat (C$) via PayTrie, which sends the funds (in C$) via interac transfer.

What are the conversion fees that PayTrie have for USDC to fiat C$?
I am not so crazy about holding USDC due to the dropping USD value in short term of 1 to 2 years.
Deal Fanatic
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Dec 14, 2010
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deger wrote: What are the conversion fees that PayTrie have for USDC to fiat C$?
I am not so crazy about holding USDC due to the dropping USD value in short term of 1 to 2 years.
1% fee, spot price. Don’t simply hold USDC, leave it earning high interest. I moved most of my USDC to DAI and put on yDAI, which is paying 470% interest on this stablecoin. That’s thanks to yeth vault, as over $46M DAI got minted with 215k ETH as collateral (~ $95M), the largest vault in MKR now. yETH deposits are now suspended until debt ceiling is increased again.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

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Deal Addict
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Nov 6, 2013
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rodbarc wrote: 1% fee, spot price. Don’t simply hold USDC, leave it earning high interest. I moved most of my USDC to DAI and put on yDAI, which is paying 470% interest on this stablecoin. That’s thanks to yeth vault, as over $46M DAI got minted with 215k ETH as collateral (~ $95M), the largest vault in MKR now. yETH deposits are now suspended until debt ceiling is increased again.


Rod

Crazy. However vaults page show 84.67% vs stats page 476%. Whats the difference?
Newbie
Jan 1, 2008
99 posts
22 upvotes
rodbarc wrote: 1% fee, spot price. Don’t simply hold USDC, leave it earning high interest. I moved most of my USDC to DAI and put on yDAI, which is paying 470% interest on this stablecoin. That’s thanks to yeth vault, as over $46M DAI got minted with 215k ETH as collateral (~ $95M), the largest vault in MKR now. yETH deposits are now suspended until debt ceiling is increased again.


Rod
Ok. I was going to hold this on Earn in crypto.com. Was more leaning towards depositing TCAD rather then USDC for this because of the bear sentiment on USDCAD exchange. I am splitting my investments on Cefi and Defi. For Defi I'd have to use USDC/DAI.

I did notice the super high DAI interest rates on yearn. I was trying to understand why is was so high with no luck last night. If DAI is deposited to the DAI vault then where is the ETH coming from that is loaned to get DAI. Sounds like the yDAI vault and yETH vault is integrated. I'll need to research more on yETH vault.

Eitherway gas prices are way to high for me to partake so just using cefi.
Deal Fanatic
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Dec 14, 2010
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JaiKor wrote: Crazy. However vaults page show 84.67% vs stats page 476%. Whats the difference?
Vaults page shows since inception. Yield farm page shows actual yield at that moment. It’s variable anyway. But very high now.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

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