is there a decentralized smart contract version of blockfi yet where i can just supply liquidity and get periodic interest/fee payouts to a wallet of my choosing?
Is there a decentralized smart contract version of blockfi yet where i can just supply liquidity and get periodic...
Aaron Thompson
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Joshua Fisher
You mean DeFi?
Ethan Wilson
It's decentralized but it's not. Unless I'm missing something, I don't think they're any more or less secure than just using BlockFi.
Parker Young
blockfi can just take your money lol
no wtf why does no one ever understand what i'm asking when i make this thread its not complicated
Thomas Collins
what? you're talking about defi
defirate.com
Chase Hill
Well, BlockFi uses the money in lending and borrowing to make your interest. Same concept with DeFi, only it's automated. Same risk of insolvency however. Not your keys.
How much is DeFi paying out on BTC?
Adrian Carter
Surf.finance and their whirlpool is exactly that unironically. Also, look into their harpoon. Galaxy brains.
Nathan Collins
that's literally defi wtf
Aaron Evans
Interesting concept, nonetheless it's bleeding to zero.
John Rodriguez
none of these things support any kind of automated batched payouts so users aren't paying a transaction fee each time they withdraw money. imagine supplying a token pair to something like uniswap but the contract lets you designate a % of the fees to automatically pay out to a wallet of your choosing on a schedule of your choosing.
Mason Cooper
I suggest you DYOR before making a baseless assumption. The harpoon alone is self sustainable and doesn’t require any outside investment to succeed. Biz will keep buying rugs rather than a coin where the devs gave back $2m a few weeks ago. Go figure.
Sebastian Phillips
BTC doesn't have smart contracts yet, best you can do is WBTC, which unfortunately is centralized.
The risk of insolvency of a P2P lending protocol is inherent, DeFi simply removes trust from the equation.
Jason Rogers
This.
Connor Diaz
yea but it doesn't have the features i want yet
i'm more interested in supplying liquidity to something like uniswap than lending my corns
Jack Campbell
what features
Cameron Cook
>best you can do is WBTC
renBTC exists and unless i am mistaken isn't centralized in the same way as wbtc but i guess nobody uses it yet
Gavin Rivera
Ah I haven't dug too deep into RenBTC, I'll have to read up on it. Thanks for sharing, user.
Ethan Russell
renbtc is centralized btc is just held by devs. Better to use wbtc as it's at least a company.
tbtc is the only decentralized tokenized btc
Charles Baker
see
preferably to some kind of layer2 wallet. rn i could make around ~500 a month by putting some money in uniswap but it still seems retarded after fees. the closest thing im aware of is supplying liquidity to loopring but i havent looked into that at all yet because almost nobody uses it as far as i can tell.
the only other thing im aware of is supplying liquidity for bitcoin coinjoins and making fees that way but it is far from automated and i'm not willing to have that much of my corns on the line to do it. i havent checked on it in a while but i'm pretty sure id have to keep a ton of corns in a hot wallet.
Owen Butler
why do you want automated payouts? sounds dumb, it's better to reinvest unless you actually want to withdraw
Angel Bennett
really wtf that's not how i thought it worked at all
Noah Gomez
they call it a temporary phase or whatever
but the reality is that it's extremely dangerous
Logan Brown
imagine uniswap but when you supply liquidity you get to chose having a % of your fees automatically paid out to you on a periodic basis without you having to make an eth transaction. i see no reason why this cant be done.
Sebastian Gonzalez
>whitepaper is in comic sans and has a pepe in it
thank you for this
Gavin Lopez
Both Flare and ETH2.0 will resolve the problems with fees. As I understand it, there are no transactions on Ethereum that don't require gas, so the fees are inevitable. I could be wrong.
Matthew Fisher
>As I understand it, there are no transactions on Ethereum that don't require gas, so the fees are inevitable.
this is correct but what i'm saying is the contract itself would be doing a batched transaction to contract participants. i assume this is what the surf.finance thing is doing but the """whitepaper""" does not say.
Evan Miller
also look at loopring what i'm trying to explain might make more sense in that context.
Kevin Jenkins
do these defi platforms not just stream your interest constantly to your wallet?
the reality is that everything in ethereum requires gas and unless you hand over all control to some other party you will need to pay for any kind of transaction, but you could make a smart contract that sends your batches when gas price is low
John Anderson
>platforms
Eli Harris
I get what your saying now, although it seems like batching transactions is only one type of solution to your problem. I think DeFi on a high throughput, low fee chain like Flare will make things a lot smoother.
Just read up on loopring, it sounds like they have DeFi in mind. Maybe they will integrate into their wallet at some point?
It's important to remember how early we are right now, DeFi pretty much just started off in the past couple of years. Personally, I'm not going deep into it until it's evolved a bit further.
Asher Morris
>Personally, I'm not going deep into it until it's evolved a bit further.
same i'm just trying to get a feel for where things are really.
>I think DeFi on a high throughput, low fee chain like Flare will make things a lot smoother.
the scaling issue is going to be much more of a hurdle for smart contract platforms than bitcoin. this is part of the reason i'm looking for solutions that have payout batching beyond just being a lazy piece of shit