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Topic: Has anyone used compound.finance? - page 2. (Read 247 times)

hero member
Activity: 2086
Merit: 761
To boldly go where no rabbit has gone before...
March 14, 2020, 01:29:42 AM
#7
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
jr. member
Activity: 149
Merit: 2
March 14, 2020, 01:28:00 AM
#6
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+% ?
hero member
Activity: 2086
Merit: 761
To boldly go where no rabbit has gone before...
March 13, 2020, 04:50:03 PM
#5
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%
jr. member
Activity: 149
Merit: 2
March 13, 2020, 03:29:52 PM
#4
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.
full member
Activity: 924
Merit: 106
homt.net
March 12, 2020, 02:33:14 PM
#3
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.
hero member
Activity: 2086
Merit: 761
To boldly go where no rabbit has gone before...
March 12, 2020, 01:41:02 PM
#2
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.
jr. member
Activity: 149
Merit: 2
March 12, 2020, 01:26:17 PM
#1
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?
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