Is this fucking shit safe??
I just moved my life savings onto there so I can earn a bit of interest.
I now fear I've made a grave mistake & burnt a ton of gas in the process...
am I fucking fucked
WHAT HAPPENS IF THESE GUYS DIE TOMORROW AND EXIT SCAM? IS MY MONEY GONEZO?
Thanks Zig Forums
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are you haaving fun?
Pfft I've parked hundreds of thousands of dollars there for months.
It’s safe
Thank GOD.. Thank you
AAVE is the real deal, I'm also invested there.
Interest might not be as high as others, but its definitely way safer.
AAVE handled march just fine.
coinbureau.com
AAVE is the real deal fren
wicked, thank you!
fuckin awesome, much appreciated dude
It's genuinely a blue chip app with a great team. There's even an audit you can go read.
It's only when you start putting that same money into unaudited smart contracts that you become truly degenerate beyond saving.
yessss
Sounds great, it was recommended to me and its obviously a great interface, love how you can literally see your cryptos increasing before your very eyes.. Great system, my only fear obviously is the site disappearing one day along with my funds.
What happens if Aave disappears tomorrow?
the best part, they dont have your funds.
Your funds are in an (audited) smart contract.
The only danger would be if everybody at once wanted to withdraw their funds. There would be no enough liquidity due to borrowings.
BUT, that's why they are implemented the safety module, which will reward people that lock in their AAVE token which will normally give them higher interest, but some of their AAVE could be sold to market buy liquidity in case of the pool running dry (which should never happen).
Put your life savings in crypto ? Are you stupid or what ? Just go to Aave discord and telegram and ask if they can guarantee the safety of your fund or not .
I have millions there for almost 8 months
not even a bank can guarantee everybody's funds 100% dickhead. Governments have had to bail out banks many times. And they do go bankrupt from time to time.
The front-end could disappear but the contracts that govern Aave are all on-chain, that means they live forever on the public ledger. You can interact with the smart contracts directly and there'd be no problems. Unless an exit scam was baked into the contract but that's what audits are for.
how much have you earned? I'm also curious if there's some consensus on how yield farming is treated for tax purposes among the cucked burgers whose exchanges narc on them to the IRS
From the interest itself? Not much, earned lots from farming and the use of loaned assets. Yield farming income is treated much like mining crypto income.
unbelievable. what a great app. really appreciate the replies lads
stfu jewnigger
safe until its not user, good luck
aave platform is simple and 100% safe to use, and lend is a good investment. blue chip defi project.
Cool, thanks for the info. I have a few hundred grand I earned in crypto and it's the first year I'll have to sort out taxes for trading. I'm using a LIFO (last in first out) method to calculate my capital gains so that I can trade a third of my stack and have the other two thirds be considered untouched long term holds taxed at a lower rate. I'd like to deposit a third into an Aave smart contract to earn with, and then continue trading the third of my stack designated as short term hold.
I want to keep that base 2/3 of my stack I've held long-term treated as un-traded long term holds. I'm just not sure though how tax code will treat an Aave deposit. If I deposit 1/3 of my stack and the IRS considers it to be the same third that I've been trading this past year, and then I turn around and continue trading a third, I would be taxed like I've actually been swinging 2/3 of my stack. But if by putting funds into Aave it's treated like I'm just shifting money between two of my own wallets and earning interest on it, I could be pretty certain that I could then go trade what would legally still be my short term hold swing stack.
I guess the easiest way to pose my question if whether or not an Aave deposit would considered an "out" event in the LIFO logic and my Aave deposit would technically be my designated swing funds.
>sold to market buy liquidity in case of the pool running dry (which should never happen).
What happened in march to these lending pools? I feel like significant moves in btc like we saw can utterly wreck you if you have assets locked.
Up your health factor to at least 5
depends. Does your national tax code sees crypto to crypto as a taxable event? If no, no.
Wait, depositing aave does what?
I know It doesnt have an apy
Some did run dry AFAIK, but AAVE handled it just fine.
no, not just depositing LEND.
LEND will be swapped for AAVE in the coming weeks, then you can chose to lock it in the safety module for extra rewards (and risks), or you can deposit in the liquidity pool like any other asset.
BTW, LEND doesnt have an APY because the swap for AAVE is pending, AAVE will have an APY.
I'm a cucked american, so yes. But I would be shocked if they can't make an allowance for something like this that's obviously not trading oriented
If the IRS goes to put a flashlight up your ass and you didn't included the trade in calculating your cap gains you are fucked. Your choice if you are going to play on risk or be a good goy
I mean I can't get away with moving this amount of money I've made in crypto unless I report. I plan to do it with complete accuracy, I'm just not sure how this event is treated.
lmao
never go all in but AAVE and AKRO are both legit defi projekts
PNK is about to be considered a defi project too watch it
just treat it as if you had sold LINK for fiat, pay cap gains on that trade, and your aave position is now a new position, so to speak if you are lifoing it is your last in. I know its retarded, but that's what the law dictates