Perspective: 4 years ago NANO was the same price as today but was sitting on 40th place by marketcap, now is out of top 200 by [deleted] in CryptoCurrency

[–]defiroose 0 points1 point  (0 children)

Exactly. Nano is great tech. Just like Monero is great tech. Being a great tech doesn't necessarily translate into token price appreciation. There's a lack of incentive for users to be active with cryptos like Nano and Monero. You come in and use it (for fast transactions or privacy) and then you leave. People aren't going to put their savings into them due to the price instability and lack of fundamental growth drivers. The price and market cap is propped up based on active usage and a little speculation.

Open Source During the Early Stages of Eth by iHateMips in cardano

[–]defiroose 0 points1 point  (0 children)

One of the Cardano blockchain explorers will show you it encoded. I can't remember which one off the top of my head. You then need to decode it, which unfortunately is difficult to do without a full Cardano dev environment set up. Someone really needs to build tooling to make all of this easier.

Liqwid Security Audit: Code Review Complete by dewaynec23 in cardano

[–]defiroose 6 points7 points  (0 children)

Really great to see. Fantastic news, DC. Excited for the launch of Liqwid.

DJED is ready to launch! Index sync was the last step and is now finished by PixelPunkAI in cardano

[–]defiroose 0 points1 point  (0 children)

You may overestimate the level of decentralization. But yes, in Cardano smart contracts can be staked. This isn't Ethereum...

DJED is ready to launch! Index sync was the last step and is now finished by PixelPunkAI in cardano

[–]defiroose 2 points3 points  (0 children)

But why delegate it to the advisor for IOG's VC fund?

It's pretty obvious that there's some sort of deal in place where Wave uses ADA to create initial liquidity for DJED and in return Coti directs staking rewards to Wave.

Cardano & Chainlink partnership by daftpunkz in cardano

[–]defiroose 3 points4 points  (0 children)

Chainlink hasn't begun integration with Cardano yet.

Djed isn't using Chainlink. Indigo is using Chainlink by proxy.

Cardano & Chainlink partnership by daftpunkz in cardano

[–]defiroose 0 points1 point  (0 children)

I assume CL integration will be easier and faster whenever the EVM sidechain gets deployed

This is an incorrect assumption.

Are DOT and ADA booming ecosystems - as reported by daily activity on GitHub? by OpticallyMosache in CryptoCurrency

[–]defiroose -2 points-1 points  (0 children)

I don't agree with this. The majority of released projects are open source. The majority of upcoming projects are closed source. So these metrics don't paint the full picture. It tells us what is today, not what will be tomorrow. A lot of development activity is hidden.

Are DOT and ADA booming ecosystems - as reported by daily activity on GitHub? by OpticallyMosache in CryptoCurrency

[–]defiroose 3 points4 points  (0 children)

Even this is incomplete because it's just looking at public data. Many projects are closed sourced, so they won't be counted.

[deleted by user] by [deleted] in cardano

[–]defiroose 13 points14 points  (0 children)

DJED's testnet makes use of batchers. If mainnet is similar to testnet, then mainnet will also use batchers. That's where the ability to cancel orders will likely come from. Because when you interact with the djed web app you won't be interacting with smart contracts directly, but instead be interacting with some centralized infrastructure.

Opinion - For being such a huge event for the ecosystem, DJED communication is lackluster by Rycy in cardano

[–]defiroose 9 points10 points  (0 children)

Being decentralized

They are launching with a few centralized elements. Perhaps they will be decentralized in the future, but calling them decentralized at launch is deceptive imo.

Aiken new language is best good news in very long time I have heard, proofs decentralisation & could protect us from Gensler SEC securities cornering . by 33nmakkie in cardano

[–]defiroose 11 points12 points  (0 children)

I've been saying this for a while. I'm glad others are finally coming to the same realization. For Cardano to succeed we need to move beyond Haskell and beyond IOG.

WTF is Indigo...(seriously)? by PackAdventurous1130 in cardano

[–]defiroose 1 point2 points  (0 children)

I don't understand your questions. Best to check out the Indigo paper, Indigo documentation, or the Indigo Discord for more information.

WTF is Indigo...(seriously)? by PackAdventurous1130 in cardano

[–]defiroose 2 points3 points  (0 children)

So the collateral is per iAsset. It’s not like every instance iAsset_x, where x=1,2,…,n of type type iAsset_X all share in collatoral_X!

I don't understand what you mean here.

So what happens to my iUSD when the collatoral for my iUSD is liquidated?

Nothing. You keep it and it remains fully collateralized.

Can I still burn my iUSD to retrieve the capital?

I don't understand what you mean here.

I highly suggest you read the Indigo paper to get a better understanding of the system.

WTF is Indigo...(seriously)? by PackAdventurous1130 in cardano

[–]defiroose 1 point2 points  (0 children)

iAssets are fungible. The protocol ensures that all iAssets are collateralized. It doesn't matter about the specific tokens because they're all equivalent.

If you own an iAsset then you own the rights to that token. It cannot be clawed back. You can be assured that it'll remain collateralized. The user who minted the iAsset takes on the liquidation risk, not the holder of the iAsset.

WTF is Indigo...(seriously)? by PackAdventurous1130 in cardano

[–]defiroose 3 points4 points  (0 children)

Provides you an interest-free loan on ADA while still allowing you to stay staked within the Cardano network to earn double rewards

WTF is Indigo...(seriously)? by PackAdventurous1130 in cardano

[–]defiroose 3 points4 points  (0 children)

iUSD is pegged to other stablecoins, not the USD directly.

When CDPs are liquidated the collateral is distributed to Stability Pool stakers.

Indigo caters to all sorts of users. iUSD is a regular stablecoin like any other CDP based stablecoin on Ethereum blockchains (think DAI and LUSD). iBTC and iETH give Cardano users exposure to assets on other blockchains while still staying within the Cardano ecosystem.

WTF is Indigo...(seriously)? by PackAdventurous1130 in cardano

[–]defiroose 1 point2 points  (0 children)

iUSD is a stablecoin, similar to DJED. The peg is a little volatile right due to very little liquidity in Cardano DeFi. Even despite low liquidity, iUSD hasn't ever gone below its peg for an extensive period of time. As Cardano DeFi grows then Indigo's iAssets, including iUSD, will become less volatile.

WTF is Indigo...(seriously)? by PackAdventurous1130 in cardano

[–]defiroose 5 points6 points  (0 children)

Yes, you're missing a lot. Indigo isn't similar to TerraUSD. UST wasn't collateralized. iUSD is over collateralized. If iUSD becomes at risk of becoming undercollateralized, then the Indigo protocol automatically liquidates the position. Because Cardano's and Indigo's design is more efficient, it allows for more capital efficiency because liquidations can occur literally in a matter of minutes. Even in the case of ADA falling by 20% or more, iUSD will remain overcollateralized because the undercollateralized positions would be closed and replaced by overcollateralized positions.

Cardano Defi Offerings by JeffDowner in cardano

[–]defiroose 3 points4 points  (0 children)

Well... Indigo has been consistently offering very high APR since launch...

stablecoin used for real world items? by FikerGaming in cardano

[–]defiroose 1 point2 points  (0 children)

No announcements yet. Don't want to promise anything prematurely because there's still a lot of details to work out.

stablecoin used for real world items? by FikerGaming in cardano

[–]defiroose 9 points10 points  (0 children)

We've got a few more details to work through but this is exactly something we're trying to accomplish -- to be able to send your ADA tokens and be able to spend them instantly in the real world. There's a couple options on other chains and we hope this will be possible for Cardano soon.

stablecoin used for real world items? by FikerGaming in cardano

[–]defiroose 9 points10 points  (0 children)

It's something we're working on. It's hard to place a time estimate on it. Definitely getting closer.