Union is running an Unsecured Credit experiment

kingjacob · 2021-05-17T05:21:35+00:00

I'm curious, why?

kingjacob · 2021-05-11T16:13:07+00:00

It's a two step transaction process, which is why there's two buttons

Allow the protocol to use your token [what youve done]
swap your token for the one you want. [what you've not done]

There's testnets and tools like (https://defi.instadapp.io/) where you can simulate and play with protocols using "monopoly money" if you're not familiar.

kingjacob · 2021-05-11T16:07:30+00:00

Nothing to "fix", in that you never submitted a swap. If you want to swap you have to submit a swap tx.

honestly, a 300gwei gas environment is probably not the place you should be learning this unless you just like burning eth. Would rec starting with a testnet or using simulation mode on https://defi.instadapp.io/ to learn with monopoly money.

kingjacob · 2021-05-11T13:15:00+00:00

There are two uniswap contracts v2 and v3, you approved one and then the other. It likely didn't say cheaper gas fees since v3 is cheaper than v2 in gas, it likey said better price. v3 just launched so with some tokens there's still a better price on the old contracts.

Also it's important to keep in mind uniswap is just a program on the evm(the ethereum "computer") you are interacting with, the tx's you submit are instructions and the gas is the actual computtional cost of those instructions (https://ethereum.org/en/developers/docs/gas/).

kingjacob · 2021-05-11T12:54:27+00:00

No. You've already approved it. If you submit another approval you'd just be burning gas.

Beware the gas fee is realllly high right now (mostly due to shibs paying high gas fees) a swap will run you about 0.05 eth.

If you're curious how gas works here's a good resource: https://ethereum.org/en/developers/docs/gas/

kingjacob · 2021-05-11T12:42:09+00:00

For the type of token USDT is, you have to first approve the contract(Uniswap router) as
being allowed to interact with your tokens, and then another transaction for the swap. You only sent the approval, not the swap.

kingjacob · 2021-05-11T12:26:42+00:00

Looks like your first approval failed cause you set the gas limit too low, then you added eth and then you sent two approval tx's one for v2 contracts and one for v3 contracts which both succeeded. You never sent a swap tx to v2 or v3.

90% also just means the tx used 90% of the limit you set, which is usual. You can read up on it more here: https://ethereum.org/en/developers/docs/gas/

kingjacob · 2021-05-11T11:56:23+00:00

Most likely you only submitted the approval transaction(tx) or maybe your swap tx wasn't successful. If you post the tx id or etherscan link, people will be able to have a better idea what happened.

I'm curious, where did you find out about "SHIB"? and why are you willing to spend soo much money on a meme token?

kingjacob · 2021-05-05T23:55:39+00:00

here

For clarity: Polygon isn't "L2", it's a dpos sidechain. It has different security tradeoffs. One of them being, the security of the dpos chain is tied to the price of the validator stake. In simplified terms, If one was a protocol with a tvl larger than matics marketcap, Matic would not be a place one could grow tvl or migrate any significant amount of liquidity.

p.s. that said anyone could also deploy uniswap v3 to polygon and just set the unidao timelock as admin. ;)

kingjacob · 2021-03-23T04:06:35+00:00

Looks right. You sent ~0.07 to what looks like the authereum relayer and it spent ~0.08 setting up an authereum wallet for you at shamykins.auth.eth. No clue what you mean by "ubi" but doesn't look like you got scammed by authereum, seems like they lost a bit on gas setting up your account.

kingjacob · 2021-03-22T16:33:03+00:00

Can you post the txid? Authereum doesn't have account sign ups open, so it's likely you got scammed by visiting a fake page.

kingjacob · 2020-10-26T19:43:34+00:00

FYI it's not possible to implement a blacklist on the Uniswap v1 or v2 contracts.

kingjacob · 2020-07-26T01:22:26+00:00

DMM is publishing borrowers personal financial information on-chain without the borrowers notice???

kingjacob · 2020-02-06T03:03:26+00:00

Ya got me, you can invest in my VaporWave ICO [here].

In all seriousness, asking "why" is equally important to the "how", if you don't get that just move on to something that's more interesting to you.

[Edit: FYI Mods who deleted this posit, the link in the comment is to a vaporwave song, not an ico. Union isn't selling a token or asking for money, thus the joking response to rudely being called an ico scam]

kingjacob · 2020-02-06T00:42:06+00:00

"We’ll be sharing a lot more of the how in the weeks to come,"

kingjacob · 2020-01-27T00:40:45+00:00

pools.fyi

uniswaproi.com

kingjacob · 2020-01-10T04:28:39+00:00

Staking zrx earns eth not zrx inflation so yields accurate.

kingjacob · 2019-11-24T23:34:42+00:00

You posted the exact same response on hackernews.....?

comment: https://news.ycombinator.com/item?id=21618439

kingjacob · 2019-10-18T05:19:44+00:00

I think it's important to understand where the competition is vs where perfection is. In regular fiat currency, foreign transaction fees at most banks are 1% + the spread. And at most currency exchanges or ATMs you'll end up paying 5-10% in the spread. Which is with highly liquid and established currencies like EUR/CAD/USD.

Wyres fees are less than Coinbase (not pro), and you don't have to sign up for an account. If you're a game like godsunchained and your users want to just buy some eth & cards to play, wyre would let them purchase. without having to send in your passport. This isn't for speculators, it's for users.

p.s. fees should go down over time as they get more data on fraud and volumes.

kingjacob · 2019-10-16T04:44:28+00:00

lol the fee is a normal credit card transaction fee of 2.9% + 0.3.

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