Has anyone used compound.finance? - page 2.

btcltcdigger

hero member

Activity: 2058

Merit: 761

To boldly go where no rabbit has gone before...

Quote from: SiverSurfer on March 14, 2020, 02:28:00 AM

Quote from: btcltcdigger on March 13, 2020, 05:50:03 PM

Quote from: SiverSurfer on March 13, 2020, 04:29:52 PM

Quote from: ATSgrowth on March 12, 2020, 03:33:14 PM

Wait for the market stabilization because if you lend now, you can easily lost your cryptocurrencies because the value of your crypto collateral become insufficient. The best time for a loan is at the beggining of the new growth cycle.

Hi, I am aware of the volatility today but what does that have to do with compound.finance? I thought in this scheme I just store my DAI with them and get the unlocked interest rates ? Or am I missing something ? Thanks.

Not missing anything. The system works on a principle where you have to deposit more than you can borrow.
I've depposited some DAI and am getting daily interest. Atm due to market, interest is around 20%/y, but it's usually 8%

Thanks.

Which means that to borrow I have to over collaterize, and to save I just need to put my DAI in it and get the current 20+% ?

Yea, exactly.
I'm not sure its 20% anymore as it fluctuates, but that's the idea of it

SiverSurfer

jr. member

Activity: 149

Merit: 2

Quote from: btcltcdigger on March 13, 2020, 05:50:03 PM

Quote from: SiverSurfer on March 13, 2020, 04:29:52 PM

Quote from: ATSgrowth on March 12, 2020, 03:33:14 PM

Wait for the market stabilization because if you lend now, you can easily lost your cryptocurrencies because the value of your crypto collateral become insufficient. The best time for a loan is at the beggining of the new growth cycle.

Hi, I am aware of the volatility today but what does that have to do with compound.finance? I thought in this scheme I just store my DAI with them and get the unlocked interest rates ? Or am I missing something ? Thanks.

Not missing anything. The system works on a principle where you have to deposit more than you can borrow.
I've depposited some DAI and am getting daily interest. Atm due to market, interest is around 20%/y, but it's usually 8%

Thanks.

Which means that to borrow I have to over collaterize, and to save I just need to put my DAI in it and get the current 20+% ?

btcltcdigger

hero member

Activity: 2058

Merit: 761

To boldly go where no rabbit has gone before...

Quote from: SiverSurfer on March 13, 2020, 04:29:52 PM

Quote from: ATSgrowth on March 12, 2020, 03:33:14 PM

Wait for the market stabilization because if you lend now, you can easily lost your cryptocurrencies because the value of your crypto collateral become insufficient. The best time for a loan is at the beggining of the new growth cycle.

Hi, I am aware of the volatility today but what does that have to do with compound.finance? I thought in this scheme I just store my DAI with them and get the unlocked interest rates ? Or am I missing something ? Thanks.

Not missing anything. The system works on a principle where you have to deposit more than you can borrow.
I've depposited some DAI and am getting daily interest. Atm due to market, interest is around 20%/y, but it's usually 8%

SiverSurfer

jr. member

Activity: 149

Merit: 2

Quote from: ATSgrowth on March 12, 2020, 03:33:14 PM

Wait for the market stabilization because if you lend now, you can easily lost your cryptocurrencies because the value of your crypto collateral become insufficient. The best time for a loan is at the beggining of the new growth cycle.

Hi, I am aware of the volatility today but what does that have to do with compound.finance? I thought in this scheme I just store my DAI with them and get the unlocked interest rates ? Or am I missing something ? Thanks.

ATSgrowth

full member

Activity: 924

Merit: 106

homt.net

Wait for the market stabilization because if you lend now, you can easily lost your cryptocurrencies because the value of your crypto collateral become insufficient. The best time for a loan is at the beggining of the new growth cycle.

btcltcdigger

hero member

Activity: 2058

Merit: 761

To boldly go where no rabbit has gone before...

Yes, i have actually.
Been meaning to write a short intro and tutorial for it.
Interest fluctuates, but i't been 8%+ since i started, so really good.
And you get interest daily, which is nice.

SiverSurfer

jr. member

Activity: 149

Merit: 2

I am thinking of putting my DAI into compound.finance due to the high interest rates now, at about 20%. The interest rates fluctuate but it is not locked and I can withdraw my DAI out easily.

Has anyone tried it?

Topic: Has anyone used compound.finance? - page 2. (Read 228 times)