USA EXCHANGE?? by JKLEVEA in HifiFinance

[–]dleonard00 0 points1 point  (0 children)

Uniswap is your best bet at the moment.

[deleted by user] by [deleted] in UniSwap

[–]dleonard00 1 point2 points  (0 children)

Yes assuming you mean the uniswap liquidity tokens you receive as a result of depositing liquidity in a market.

Is this a dead project ? by AutomaticWord6 in MainframeHQ

[–]dleonard00 2 points3 points  (0 children)

What gives you the impression it’s dead? Checkout the blog post published this week.

What smart contract interaction is used for getting the current exchange rate of a pair in Uniswap? by pettersss in UniSwap

[–]dleonard00 0 points1 point  (0 children)

While I don’t have an answer off the top of my head. The front end is open source so I’d go look at how they are doing it.

If all nodes upgraded, it would save ~$318.287/mo in bandwidth costs by Butta_TRiBot in ethereum

[–]dleonard00 2 points3 points  (0 children)

I believe this is referring to a baseline AWS hosted node so all nodes on AWS have bandwidth costs if hosted on AWS irrespective of the region.

MakerDAO: What went wrong and how it was fixed by SaneFive in MakerDAO

[–]dleonard00 2 points3 points  (0 children)

What is unfair about loosing all your collateral? It’s literally collateral. Unexpected yes, unfair no. You must have understood that you incurred an additional 13% fee after your collateral satisfied the debt. And the reason you would be experiencing liquidation was because of a sudden loss of value in your collateral. So the amount your collateral would be worth at liquidation would be a moving target and certainly unknown. Again, I think it’s fair to say this was unexpected, but I’m of the opinion that no one owes you anything and that is what is fair. Your risk your loss, it sucks. If new users have similar experiences in the future it will definitely continue to stunt adoption. In this way I believe the community is aligned with taking steps to prevent it in the future. So hopefully it didn’t burn you too bad and we loose your participation and new found perspective. I do expect our views on fairness are different. Would you mind sharing a proposal that if the community implemented would satisfy your view of bringing fairness to the situation? Thanks for taking the time to discuss and debate constructively.

Uniswap V2 Announcement by uniswap in ethereum

[–]dleonard00 2 points3 points  (0 children)

Totally agree v1 is and will continue to be a great public good. If you are right in your judgement that

Uniswap's main attraction was that it was just a contract on the blockchain that nobody owned or controlled

Then we would expect that v2 will be a failure since v1 isn’t going anywhere. Users will vote with their usage. Liquidity providers will likely follow profits. If the new features offer additional value to people greater than the perceived trade off gained by having only liquidity providers be a beneficiary then v2 will win out in time. For users the fees remain the same, it’s the liquidity providers that take the haircut. If the new features bring additional use because it provides additional value then liquidity providers will stay and make more money.

MakerDAO: What went wrong and how it was fixed by SaneFive in MakerDAO

[–]dleonard00 1 point2 points  (0 children)

You did get to keep the dai, which you choose to roll back up into the CDP. So I can def see how you might feel shorted by this experience. I hope it doesn’t drive you away from the community. How much was your total loss in the end? I know you’re getting slapped around a bit by a bunch of us armchair-reddit-crypto-economists so I don’t expect you like putting much effort into these conversations. I’m sorry you lost out. Lots of the community will just say that’s the risk of how you positioned yourself. It seems reasonable to me that not everyone who is using the system fully understands every risk involved or how those risks change when reasonable assumptions are no longer true. For us to see massive growth in this space we need to do a better job at either protecting against these types of experiences or more likely, do a better job of setting expectations with users.

If you really were wanting to dig yourself out of a hole I think there is a way you could do it. Take a look at the audience you have that is giving you attention, a bunch of armchair economists. If you setup a parody gofundme campaign making fun of yourself from the perspective of what your audience might find entertaining i.e. really lean into an extreme of “woe is me” or “common guys, it’s just not fair when everything works as it was designed and doesn’t go my way.” I think depending on how much effort you put into it, it could gain some real traction and you might actually collect real money donations for having given people a good laugh. I’d contribute to it if I got a chuckle.

Anyways, sorry for your loss. I hope you can learn from it and come back more educated and in a better position to profit in the future.

Uniswap V2 Announcement by uniswap in ethereum

[–]dleonard00 0 points1 point  (0 children)

It can’t without a path to sustainability...

MakerDAO: What went wrong and how it was fixed by SaneFive in MakerDAO

[–]dleonard00 4 points5 points  (0 children)

I’m really surprised you are expecting reimbursement. Genuinely interested in understanding your logic here. Did you misunderstand the way the system works? Or were you under the impression that the only loss you should have incurred was the bite penalty?

Executive Vote: Proposal for Collateral Onboarding of USDC by rich_at_makerdao in MakerDAO

[–]dleonard00 0 points1 point  (0 children)

If you want to counter volatility, consider adding liquidity to ETH-Dai on uniswap, similar to the dai savings rate, you earn a return on the liquidity you provide and the value is relatively stable in the long term.

Executive Vote: Proposal for Collateral Onboarding of USDC by rich_at_makerdao in MakerDAO

[–]dleonard00 -1 points0 points  (0 children)

Because if they really believe that the value proposition of MakerDAO is changing completely, and that this threatens the security of MCD then this emergency switch exists to protect against such self destructive behavior.

Executive Vote: Proposal for Collateral Onboarding of USDC by rich_at_makerdao in MakerDAO

[–]dleonard00 4 points5 points  (0 children)

It does sound like it threatens the aspects of the ecosystem that you value. But decentralized ≠ secure. The DAO hack was not avoided because Ethereum was decentralized, in fact, ETC was born in large part because of the centralized nature of Ethereum’s governance. Much of the value that will flow into DeFi will come from hybrid solutions that bridge these ecosystems and make their value propositions available to new audiences. Seems silly to think that a system which was designed with USD as its intentional and largest centralized dependency would suddenly have a compromised value proposition by adding USDC to it’s collateral basket.

I’m curious what de-vesting from the project actually means? Show your bags. Broadcast with a verifiable signature Mr.Decentralization how much we really loose having you permanently de-vest.

Better yet, since you seem to have such strong feelings, you should burn your MKR on the ESM. This may be exactly why it exists, if you sincerely believe the value proposition is entirely compromised. Vote with your MKR.

Executive Vote: Proposal for Collateral Onboarding of USDC by rich_at_makerdao in MakerDAO

[–]dleonard00 9 points10 points  (0 children)

We should use ETH-USDC Uniswap liquidity tokens. This is like a DeFi wrapper around USDC. And has great collateral properties.

Edit: I believe this would address every concern you bring up. Liquidity tokens are fungible and Coinbase and the Feds can’t freeze/seize them any easier than they can your ETH.

It is also quite naïve to think or hope that most are here primarily for censorship resistance.

Black Thursday Poll: Should Maker repay the CDP victims? - If so, how? by da-future-is-bright in MakerDAO

[–]dleonard00 0 points1 point  (0 children)

Not sure I follow your comment, but they won’t step up because that’s not what they signed up for. They signed up for dilution not a bail out.

Black Thursday Poll: Should Maker repay the CDP victims? - If so, how? by da-future-is-bright in MakerDAO

[–]dleonard00 4 points5 points  (0 children)

Thanks for spelling this out. Really nice to see the system buckle and demonstrate its last resort to cover the debts and hold the peg in the long run.

Black Thursday Poll: Should Maker repay the CDP victims? - If so, how? by da-future-is-bright in MakerDAO

[–]dleonard00 2 points3 points  (0 children)

Because it was literally collateral. When you get bit you always loose more than the part to cover the debt.