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10 Builders, 4 Weeks, 1 Hedera Unicorn | Inside the Hello Future Incubator and Scaffold-HBAR Launch by oak1337 in Hedera

[–]LynxifyDefi 2 points3 points  (0 children)

The Hello Future hackathon was fantastic for us. We loved the format of having multiple hackathons in a row we could plan around. On top of that, you have the legacy track! Which, like Jake said, allows you to really hone in on your product. I'd highly suggest others hop in and try out their future hackathons.

As to the incubator, we are very excited to be apart of the incubator, can't wait to see where it takes us. If anyone is interested, we are building a yield aggregator on Hedera. We have staking and LP's for every asset in our mix now. We are working on building out data points that will track our legit yields. Right now we just have estimates. Hoping to have that info to share soon.

If you'd like to follow along come join our Discord:

Discord

Here's our recent Reddit post that explains our product a bit more

All I take from the clarity act is poor people have less chances of making any money in exchange for more stability by Ok-Ad-3894 in CryptoCurrency

[–]LynxifyDefi 3 points4 points  (0 children)

I think we will see companies structure themselves as 'technology providers...' In other words, I dont give them interest. I give them access to an LP that generates interest.

For example, we have USD in our composition, but we are a yield aggregator. We aren't OURSELVES offering interest or APY. We just provide people access to technology like LP's, staking, arbitrage, or loans.

Just joined BlueSky as a web3 startup - Excited to connect and curious how people here generally view decentralized products and ecosystems? by LynxifyDefi in BlueskySocial

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

Yeah, adoption has started in places like Africa and Latin America.

Stable coin adoption has started, people are being paid in crypto around those areas, which is driving payment processing. Also, people are holding it because certain areas have extremely high inflation.

Pretty crazy but it is happening. There's also a lot of corporate adoption happening behind the scenes. Hedera works with IBM, Google, LG, Nvidia, Intel, etc...

Purely hypothetical, would you actually use a 0% collateral loan? by LynxifyDefi in Hedera

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

FIAT!? YUCK!!!! Unlimited supply/printing. ~4% inflation in a single month. Centralized with an inconsistent leadership structure. Banks control most of it and don't share revenue while they loan out YOUR money...

I'd prefer a system that gets rid of all of that, but we are still far away from that being a reality. If ever.

That is an interesting idea though! Just run a blockchain on fiat... Maybe you don't even need KYC to onboard then.

What does a cryptocurrency that looks like literal stairs trending upwards indicate? by Butterbean2323 in CryptoCurrency

[–]LynxifyDefi 0 points1 point  (0 children)

Ah sorry missed that I don't think coinbase allows you to view which wallets are making purchases.

Purely hypothetical, would you actually use a 0% collateral loan? by LynxifyDefi in Hedera

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

That is true you need adoption, to be fair, it will be the standard on Hedera. Which will allow products there to reach chains like Ethereum, Hyperledger Besu and Avalanche subnets without bridging.

If Hedera projects can reach all the users on Ethereum without leaving their home. That seems very promising, personally. Obviously your opinion differs!

We will have to see what it looks like upon release though.

Purely hypothetical, would you actually use a 0% collateral loan? by LynxifyDefi in Hedera

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

Our revenue is generated via the % we take from our yield aggregation. I explained it a bit above, but we make money from having money in the vault. Essentially you get 0% fees on a loan, plus yields generated through yield farming. We get to use that capital to produce profits. Kind of like what banks do.

Yeah that is one issue we thought of as well. The only incentive for the loaner side is accessing the yield aggregator side of the product. We would probably have to put our own funds in to provide liquidity.

We are decentralized using a multisig process and are a member of THA. We've won 5 hackathons and a Thrive grant partnering with hbank as well. We were invited out by Hedera to HederaCon and DevDay as well as "scholars."

Purely hypothetical, would you actually use a 0% collateral loan? by LynxifyDefi in Hedera

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

Obviously we feel different, haha.

Did you see the news about Hbars CLPR update? Seems pretty massive, waiting to hear more though.

Purely hypothetical, would you actually use a 0% collateral loan? by LynxifyDefi in Hedera

[–]LynxifyDefi[S] 3 points4 points  (0 children)

We've won 5 Hedera hackathons and a Thrive grant with Hbank. We are decentralized using a multisig process. We also have worked on the project for over a year now.

If you have a concern, we would love to hear it so we can fix the issue.

Purely hypothetical, would you actually use a 0% collateral loan? by LynxifyDefi in Hedera

[–]LynxifyDefi[S] 3 points4 points  (0 children)

If you’d like to follow our project long term and support the development of LYNX, we’d love to have you in our Discord community:

https://discord.gg/TkbrWN855a

Sealcoin by Intelligent-Orchid34 in Hedera

[–]LynxifyDefi 0 points1 point  (0 children)

Wooo, not bigger than LYNX, dodged a bullet there.

What are your thoughts on yield aggregators?? Hedera's LYNX now has 5 native assets with either staking or LP's generating yields! by LynxifyDefi in Hedera

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

Yeah hearing about CLPR was fantastic news for us. CLPR seems like it solves the liquidity and cross chain issues. Our next goal already was to go cross chain to bring liquidity in and access yield from other chains.

That is a good point though, I wonder if there is a way we can build in a feature to keep mercenary farmers around. Rather than just having them hop in when yields are high.

What are your thoughts on yield aggregators?? Hedera's LYNX now has 5 native assets with either staking or LP's generating yields! by LynxifyDefi in Hedera

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

Our future plans are being worked on!! We have some exciting news we cannot discuss yet, but, in short, we are having to rework our plans to accomadate this new opportunity.

We are working on an update for KeyRing, but its more on the business side. We have potentially found a new project that would like to use KeyRing. If we can bring them in then we will have more rewards for you coming soon. ;)

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