I have already tried this purely out of supporting this new Eidoo offer. And to be honest I was surprised I had to pay fees at least thrice, when I converted into ETH, and ETH into DAI, and DAI into cDAI. Why do we have to pay fees when converting DAI into cDAI? I think that is unnecessary. And by the time I go back into ETH, I will have to go through these layers of fees again.
Another concern, do you think 8% maximum annual interest is attractive enough? In a year, by merely HODLing almost any coin in the top 100, you will already gain way more than that. And with all those fees that I paid, I might have a negative net return from it.
And finally, I am still seeing the old dilapidated ANN. Please give Eidoo a decent ANN it honestly deserves.
All the fees you are paying when doing the Swaps are on-chain transaction fees, so you are paying the Blockchain fee. Eidoo charges you no extra fees.
The rate is expressed on a yearly basis and changes every time according to the liquidity available in the pool. The less is liquidity, the highest the rate.
Obviously, the integration of the DeFi system is not a service for traders. It is meanly for the people who want to use FIAT (with wire transfer) to gain interest. Consider that all the bank now apply 0% interests (or in some case negative interests)
We've made this great that helps everyone start earning cDAI. It's fast and easy, what do you think?
https://helpdesk.eidoo.io/hc/en-us/articles/360034922632-How-to-earn-interest-with-cDAIAnd about the ANN page, you are right, it needs to be changed and we will make another one really soon.
