Topic: ⭐️ HyperDAO ⭐️ 🔥 Decentralized Financial Services Ecosystem 🔥 (Read 1838 times)

Listing on Bittrex
https://coindar.org/en/event/hyperdao-hdao-listing-on-bittrex-27932

I just came with the idea of using CDP Smart Contracts to generate HyperUSD putting ETH as collateral. If I use around 20-30 ETH as collateral to generate around 40-50% of HyperUSD considering that is wise to use a range big enough to avoid being liquidated.
In this way I am taking a long position on ETH hoping that the halving will create a bull run in BTC and consequently in ETH.
If the price of ETH actually goes up I can always generate more HyperUSD, around 8%.

Those HyperUSD could be used as a line of credit to generate more passive income as compounded interest.

hDAO / tezos ====> https://www.hicetnunc.xyz

 

weeeee

Speculation and popped bubbles are also part of the process of mass adoption. What it matters is that innovation has not stopped and HyperDAO and other decentralized financial systems are proof of that.

Well, I think this is just the early phase. And most of us here are speculators, others are researchers or traders. We still do not know if the public will be able to digest this new technology in the next few years. HyperDAO just like all the other DeFi projects are still in a very experimental phase. This is a market in its infancy.

Something that may help will be a proliferation of assets coming to DeFI in the near future.This includes fiat currencies and tokens derived from real world assets, like real estate and even precious metals. Thus creating more assets that can be connected to create new kinds of assets.

: I think like DeFi projects, like HyperDAO and even MakerDao still have a long way to go.  There are so many steps that need to be taken to bring the advantages of Decentralized Finance systems to the masses. Here is a list of things I consider Hyper should take into account:
a.   They need to create interfaces which are amicable and easy to use by the lay man. Although they still should maintain privacy, multi-sign contracts and access to distributed blockchains. But they should remain in the background. The user probably needs an interface pretty much replicating what other main stream applications offer.
b.   Keep in mind that the average person is not a trader, does not want to do prediction market and maybe does not understand the movement of the financial markets and its dynamics. What they probably want is a system that allows them to do peer to peer transactions without all the fees involved by centralized institutions. Of course lending, interest income, wealth management, and collateralized loans are excellent and can only help the ecosystem growth.
c.   Create the bridge between centralized fiat and decentralized cryptocurrencies by means of stable coins, working intensively on making the public aware that they can create saving accounts, generate passive income (more than in the traditional banking system), and that they can also take loans by means of created ETH collaterals.
I believe that when DeFi offers an application so easy to use like other mainstream companies, like Amazon or Uber, we will see an influx of the public into this emergent market.

2020 will be the year for privacy coins, just like 2019 was the year for DeFi, and 2017 was the year for ICOs.

 All DeFi lending is overcollateralized. That would be truth only if the price of ETH drops fast enough such that loans cannot be properly liquidated.

A good question would be who is going to assess credit requests in DeFi? If there are not assessments irresponsible capital borrowing will eventually happen. This is dangerous and can lead to major financial losses and collapse of many DeFi projects when borrowers are unable to pay back.

Maybe because DeFi is the new hype buzz-word. But remember that these are all centralized projects with extraordinary trust issue. They are at peril of collapsing just like the failed projects of 2017.

Seems like 2019 was the year for DeFi. It even outperformed BTC in growth. I am wondering if this trend will continue during 2020.

Seeing it like that it makes sense. I think now I understand why there was so much noise about the Tether bomb.

What something like that would do to ETH price? Not sure, but you are basically reducing the supply of ETH tokens. ETH has no inflation rate and it has to be mined. I guess it should increase the price of ETH. That would mean that you would require less and less ETH to generate more “fiat tokens”, they will most likely acquire it on exchanges listing eUSD. The advantage it has, just like HypeDAO is that burned or collateralized ETH can always be verified, making the creation process fully transparent and auditable on Etherscan. No third parties involved there.

The current valuation of ETH is around 18 billion, and Tether’s around 4.7 billion. Imagine if 4.7 billion of ETH had to be locked forever “burn”. That is approximately 25% of ETH total supply. What would something like thatwould do to ETH’s price?

You did not mention the other way to create “Fiat-tokens”, and that is proof of burn. I am thinking about eUSD, a stable coin created by sending ETH to a provided eUSD smart contract. The burning process means that some eUSD are minted according to how much ETH at current market value is sent to a smart contract where it will be locked forever. That is a smart way to migrate crypto, in this case ETH into “fiat tokens”.

This is IEO is FAKE see reference https://steemit.com/scam/@jackzee/okex-launch-fake-ieo-hyperdao-don-t-fall-for-scam

Definitely, but I am still wondering why so many of these projects were born dead. I still remember the time when there were only one thousand projects or something like that. It can make anyone skeptical.

The first thing we have to understand is that blockchain is a revolutionary technology but it has been hyped and distorted. This distortion was part of a social phenomenon created by the euphoria of 2017’s bull market. Seeing a number of assets grow continuously over a period of 2 years created cognitive bias in many individuals. They associated speculation and manipulation with technological mass adoption. They were so convinced that blockchain was about to take over the world, something which was not truth, at least not at the moment. It was not truth either for most projects as we continue to see a massive purge in the space.What is probably truth it that blockchain represents nowadays what the Internet represented to people in 1994-1997. Nobody knew what Internet really meant except for a small group of innovators. Nonetheless, eventually Internet was able to infiltrate in every single pore of industrialized societies. The same will happened with blockchain technology.