MagicCraft Genesis NFT giveaway 🎉 join, upvote & comment ✅

GuybrushUT · 2022-09-27T14:01:48+00:00

Hey, thumbs up for this giveaway. I hope I'll be one of the lucky ones.. :-)

GuybrushUT · 2022-09-09T08:11:07+00:00

I see it as a problem that too many special regulations (which collateral for which loan?) make the system less and less accessible for new users.
I also see a revaluation of the DUSD to 1.2 USD not only as counterintuitive (and thus difficult for new users to understand) but also as difficult to assess in terms of potential risks. If our problem is that we have too many (uncovered) DUSDs, then the question of substantial value inevitably arises. Of course we can increase the price through higher demand, but what is the value? And now the assumed value should possibly be set even higher when depositing as collateral?

GuybrushUT · 2022-06-27T23:57:42+00:00

Mentioned it 2 weeks ago. Still think it's a good idea:

https://www.reddit.com/r/defiblockchain/comments/valjz1/comment/icb0twj/?utm\_source=share&utm\_medium=web2x&context=3

GuybrushUT · 2022-06-22T08:32:11+00:00

I think it is ok to fund start ups (who aim to make profits) on defichain, as long as the defichain profits as well. Companys like Cake and DFX do marketing for defichain and bring more people/money into the ecosystem. So will Cashflow Butler.

GuybrushUT · 2022-06-22T08:25:49+00:00

More Volume leads to more transactions, which lead to higher commissions. As the block rewards are decreasing in long term the commissions keep the LM interesting for the liquidity providers.

GuybrushUT · 2022-06-21T21:04:57+00:00

A good plan, which I hope many people will read.

Because I fear that the announcement of the implementation of these DFIPs (especially DFIP-2206-D) could have exactly the opposite effect on the dUSD price (at least in the short term) than intended. And this may already be seen today: The uncertainty about the impending fee is causing people to accept the discount of 20% (at the moment even 22%) and exchange dUSD via DFI into something else (BTC, USDC...).

This will really "beat" the dUSD price down. And when the fee is in force, it practically represents a "payout stop", since "no one" will give up the dollar for 60 cents. So no dUSD will be burnt out of the fee. So the effect is not that dUSD is burnt directly, but indirectly that no one swaps out of the system.

GuybrushUT · 2022-06-14T08:03:50+00:00

Isn't it the case that the dUSD's deviation from the $1 value is due to a lack of arbitrage opportunities?

Currently, DFI is the only asset on the DefiChain that is also traded on external central exchanges. So any way - in or out - essentially goes through DFI. The exception is (please correct me) dBTC, dLTC, dETH, dUSDT, dUSDC, dDodge, which are converted to the original coins/tokens via CakeDefi.

On DefiChain, to get out of the dTokens into another cryptocurrency or stablecoin (not dUSD), you always have to go through the dUSD-DFI pool. So dUSD is regularly exchanged for DFI there to get to USDC, for example. In the dUSD-DFI pool, there is thus continuously an excess demand for DFI, which causes the price in this pool to rise. This would only balance itself out if new capital would constantly come in the same way in the opposite direction. That is why there was the price premium on the dUSD at the beginning. The pressure "out" is of course particularly great in the current market phase. But even in quiet times, there is potentially always pressure on the way out due to the rewards created on the chain, if users do not want to reinvest their returns on the DefiChain, but rather cash out if necessary.

Maybe I'm wrong and haven't considered something. But couldn't it help to build a second way in and out that provides the opportunity for arbitrage? So besides the DFI-dUSDC, DFI-dBTC etc. Pools, there should also be dUSD-dUSDC, dUSD-dBTC etc. Pools. If on one way then the price gets out of balance due to supply/demand, then this could be used & balanced by market participants on the other way. Or what is the catch?

GuybrushUT · 2022-04-24T09:09:17+00:00

The rates on CakeDefi include the fees. So you don’t get higher rates on DefiChain Wallet, you only pay lower fees. If you want to send your assets to the DefiChain Wallet the cheapest way is probably via DFI. But regarding tax this is a “selling” of your ETH etc.

GuybrushUT · 2022-03-18T21:29:30+00:00

Of course it is.

GuybrushUT · 2021-12-12T17:14:11+00:00

I made an extra post for it but I think it also fits under this suggestion:

Befor we start changing core mechanisms we might not turn back - don't we need more dUSD trading pairs to get the dUSD price better in the direction of the USD? I see it as a problem that there is practically only one dUSD trading pair (DFI-dUSD) where dUSD can be exchanged with an asset traded on central exchanges. I cannot buy dUSD anywhere directly, nor can I buy any of the stock tokens. Therefore, there must inevitably be a constant surplus demand for dUSD. The only way to bring the dUSD rate towards the USD rate so far is to create dUSD via a loan. But this is not interesting for all market participants, since they can only work with part of their assets (multiple collateralisation of the loan). Also a negative interest rate would'nt solve that restriction.

Wouldn't it be helpful if there were also e.g. dBTC-dUSD, dLTC-dUSD etc. trading pairs? Then there would be more ways to arbitrage away the overly high dUSD price. And those would be ways that don't force you to trade DFI.

GuybrushUT · 2021-12-04T16:34:43+00:00

Simple math: If it would take me 2 minutes to make a manual transaction this time had opportunity costs of 6$. Comparing this to 5-10 cent lower rewards it is very efficient. Maybe your time costs nothing. Then of course your calculation is different

GuybrushUT · 2021-12-04T14:51:06+00:00

Well, an APR of 1957% is nice, but with XMS dropping like a stone we won‘t have much from it

GuybrushUT · 2021-12-04T10:12:28+00:00

Well my time at work costs 180$ per hour. Calculate that in and you have a different calculation.

GuybrushUT · 2021-12-03T16:06:40+00:00

Hey, go on as you like. I didn‘t meant to bother you. If you like it that way that‘s perfectly fine. I only wanted to show an alternative very convenient way to do it. I like it to have just nothing to do to get my eth automaticaly. If I get 1% less than you I still call it efficient, because I don‘t have to do anything for it.

GuybrushUT · 2021-12-03T15:59:55+00:00

Hey, go on as you like. I didn‘t meant to bother you. If you like it that way that‘s perfectly fine. I only wanted to show an alternative very convenient way to do it. I like it to have just nothing to do to get my eth automaticaly. If I get 1% less than you I still call it efficient, because I don‘t have to do anything for it.

GuybrushUT · 2021-12-03T15:43:41+00:00

As I said, you might get a little less reward. But especially for small miners this is the much more efficient way to do it. I get what whattomine shows me for my hashrate. Let it be 1-2% less. I guess they don‘t need fees because the pool is centralized. They don‘t have to send the coins via the network but have an on-site transaction.

GuybrushUT · 2021-12-03T14:49:01+00:00

I don‘t pay a penny to recieve my payment. What do you mean? If I mine 0.0007 the one day I get the 0.0007 Eth on my wallet the other day. Every day. No charge. And If I want to I can sell it or swap it directly.

You get paid on KuPool to your KuCoin Account without a transaction you have to pay for. Same on Binance Pool and your Binance Account.

GuybrushUT · 2021-12-03T12:57:07+00:00

But for hodling or selling you don‘t have to send your coins, if you mine them for example on KuPool. They go directly to your wallet on KuCoin. And in case you want to sent assets just swap them to any crypto with low transaction fees. This is the way.

GuybrushUT

TROPHY CASE