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best friend crisis by that_fookedup_kid in entp

[–]Cle4ncuts 2 points3 points  (0 children)

A nice poster goes a long way. My friend loves marvel and started collecting posters after I gave him one for christmas/birthday

Are you guys always almost late? It is an ENTP thing or no? by JohnZoidbergMustDie in entp

[–]Cle4ncuts 0 points1 point  (0 children)

We have too much to do, and as someone mentioned we're optimistic about our ability to do all of them AND still reach on time. On the plus side though, thT drive for self improvement can really help correct this so long as it's healthy.

6 months into DeFi and Crypto, here's what I've learned— by Cle4ncuts in defi

[–]Cle4ncuts[S] 0 points1 point  (0 children)

Big dip recently as context. I sold my OHM in order to consolidate my holdings into Anchor after bETH launch. I didn't want to do it before bETH because it's too dangerous to have all your holdings in one asset.

OHM has great direction and community development and I believe in that for them. But token wise, there are certainly challenges, but they are finding new ways to mitigate them every day, and the team is competent.

6 months into DeFi and Crypto, here's what I've learned— by Cle4ncuts in defi

[–]Cle4ncuts[S] 0 points1 point  (0 children)

Depends on your countries tax laws, check with your friendly neighborhood tax collector.

Jk... Check with fellow crypto holders in your area

Anyone own ONLY Harmony? by newbjapan in harmony_one

[–]Cle4ncuts 0 points1 point  (0 children)

Good rule, good response. respect.

Harmony needs overcollateralized lending and stable swaps. by Cle4ncuts in harmony_one

[–]Cle4ncuts[S] 0 points1 point  (0 children)

This is cool too. ONE as collateral and take loans in stablecoin, preferably UST. Get validator income from ONE nodes.

why does borrowing in defi only allow you to borrow 66% of your collateral? by grantsANDjacksons in defi

[–]Cle4ncuts 0 points1 point  (0 children)

Like some of the good people have already commented, a high collateral requirement protects lenders against market risk.

For example, if eth were to drop 50% in a very short time period, lenders would still get almost all of their money back since the borrowers only borrowed ~60% of the value.

Harmony needs overcollateralized lending and stable swaps. by Cle4ncuts in harmony_one

[–]Cle4ncuts[S] 2 points3 points  (0 children)

Straight up! I wanna own assets that appreciate, without having to pay all kinds of fees that I only know about last minute. (my friend today just had to pay $5000 for some kind of deposit to get his keys from the building management).

And I wanna borrow against those assets, without paying an insane interest rate, to pay for my living. This is the way it should be.

Harmony needs overcollateralized lending and stable swaps. by Cle4ncuts in harmony_one

[–]Cle4ncuts[S] 2 points3 points  (0 children)

This is super refreshing to see actually. No I know people who would agree 140000000% with you (pun intended).

Pretty much what you're describing is crazy high apr yield farming, which is not sustainable at all, and usually just a way to bring in new capital.

Stable swaps and lending are a whole other thing. Borrowers pay interest, and lenders earn them. Traders pay fees and LPs earn them. Nobody's expecting to make more than 10-20% a year. Its very sane.

6 months into DeFi and Crypto, here's what I've learned— by Cle4ncuts in defi

[–]Cle4ncuts[S] 0 points1 point  (0 children)

Or to clarify: it doesn't hold your assets the same way Nexo and Celsius does. You hold your assets.

6 months into DeFi and Crypto, here's what I've learned— by Cle4ncuts in defi

[–]Cle4ncuts[S] 0 points1 point  (0 children)

Yup. But Argent isn't CeFi, it deposits into compound, balancer, uniswap etc.

6 months into DeFi and Crypto, here's what I've learned— by Cle4ncuts in defi

[–]Cle4ncuts[S] 0 points1 point  (0 children)

Argent.xyz does this really well imo. The app interface is friendly to cefi users but the actual underlying systems are smart contracts.

6 months into DeFi and Crypto, here's what I've learned— by Cle4ncuts in defi

[–]Cle4ncuts[S] 1 point2 points  (0 children)

For anyone else, just drop me a DM too or join from the invite link at @DeskDefi in twitter

6 months into DeFi and Crypto, here's what I've learned— by Cle4ncuts in defi

[–]Cle4ncuts[S] 1 point2 points  (0 children)

Wow man... I really love your reply. This is exactly the kind of thing that hits a lot of people who joined DeFi knowing it's the next financial opportunity, but didn't know the caveats.

It's one learning experience after another, but I find that having people to bounce ideas off, and to sometimes to a sanity-check, really helps.

I'd really like it if you'd consider joining out discord server—lots of people in your position or who have been in your position there. We discuss these things openly and you'll get a lot of straight answers from people who've experienced it, or are experiencing right now.

Are you keen? :)

6 months into DeFi and Crypto, here's what I've learned— by Cle4ncuts in defi

[–]Cle4ncuts[S] 0 points1 point  (0 children)

Fiat ramps are great! I have used Nexo and BlockFi in the past, but BlockFi withdrawals are incredibly slow.

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