YVault for LINK is live!

there's a difference between a smart contract bug which could cost billions and a cex.

Someone has put 36K Link already on it. The fucking mad man
etherscan.io/tx/0xf18c520eebb7de3ff17eebe210ac973cf6ee65a7df1f688ea20300f8dd0fbb2a

Holy shit it's real

I don't have enough test to do it before an audit, but I am already longing LINK using AAVE to borrow USDT and buying more link, just not automatically.

rrb

i have zero clue how any of this ‘defi’ shit works

It's simple, you put your token and the exact equivalent in ETH (or sometimes stablecoins) in a smart-contract.
The funds are used as liquidity and loans, the fees/interests paid by the traders/borrowers are given back to you.

It's not much different than putting your money in a saving account of a bank (where they already use your deposits, at leverage 50, to do all that shit).
This is good because you can offset a dump in price with fees, the catch however is that if the tokens/ETH you put rise a lot in value then you make less money than simply holding, so it's a good deal in a crabbing market, not so much in a strong bullrun.

I only tried with pocket change though, we already saw people getting violently rekt by flashloans and there is always a chance of smart contracts being bugged/exploited.
My guess is that people putting a lot of money on these platforms are either a bit too greedy or already worth few millions.
In few years however it will probably be much safer (but the returns much less too).

Attached: DeusExec.jpg (640x885, 98K)

But vaults are slightly different to my understanding. yVaults are a permanent leveraged overcollateralized long position in LINK

bump

then what does that tell you

I was talking about mostly Compound, Uniswap and all that stuff, I'm not super familiar with Yfi yet but from what I've read it's a hub allowing you to use all of these platforms in one place.

What you anons think about staking linkies on hotbit?

Stake on Crypto.com I’m making over $500 in link a week on the earn program

The added risk is just the stablecoins that LINK is used to borrow (and the contracts and the platforms it runs and lends stablecoins on). It's a long because it buys LINK with profits, but it's not leveraged.

whats the catch with this?

>not your keys not your LINK
>LINK is locked for a time and you can't move it

No you're not. You don't even own any link. Crypto.com has your link.

but has anyone ever lost their linkies

Bnt v2 has solved impermanent loss and they will allow deposits to aave. We're going next level

Nope, it's probably fairly safe. But I'd trust cryptography more than I'd trust a bank. And if it's $1000 EOY you don't want to miss EOY...

You're a niggerfaggot

It's a scam site, don't listen to this faggot user. Keep your linkies to yourself. Shame on him for betraying linkies

I've been staking on crypto.com for 9 months now I want to move from there because it's becoming way too mainstream and scammy, meaning that ponzi is gonna explode soon. Hotbit being relatively unknown makes me think I can ride that ponzi for 6 months and make some gains

Bitconnect and Mt. Gox ring any bell for you?