11% on a stable coin?

And if I understand correctly yearn is decentralized and audited so no chance of internal shenanigans/hacks right?
What’s the catch? I could earn $11k easy by placing 100k and let their algorithms run? I don’t get it seems very easy to make money this way, banks won’t give you 2%
What’s the catch?

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>Audited means exit scam safe
lol stupid frog posters

the catch is whether or not you're telling the tax man about it

There is no catch, we're threatening the existing financial system and when scalability is fixed you're gonna see some serious shit

I hope that stablecoin isn't Tether.

theres always a catch. you fucking something up or a chink government hack. im using celsius for btc. 4.5%, got 4 btc so far and about to put in more
referral code 1902366418 for 20$ to cover initial transaction fees then you're golden

It's literally just arbitrage which will go away as defi gains more adoption

It isn’t I’ve been scared of tether for years now, not committing 100k into it
Also, it’s centralized, I’m more of a dai man myself
What exit scam? I receive DAI in exchange for DAI? Can they just withdraw my money from the pool? With which mechanism?

I guess the only risk is the US dollar losing more or similar value in a year than what you would gain by staking, while holding BTC could potentially greatly surpass that. I would split it. Or maybe only reinvest the interest into BTC.

I’ll probably split it into DAI/USDC/ETH/BTC in equal parts

Actually no ETH is probably not a good idea as a long term given the fact it’s not capped
Let’s do DAI 30% USDC 30% BTC 40%?

>Can they just withdraw my money from the pool? With which mechanism?
You have a lot to learn, fren. Kek.

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also promo code TRUST for 50$ btc with 2k deposit. thats 70$

>11%
No, it's more like 20%. Deposit your DAI get yDAI (10%APY), then deposit yDAI get yCRV (10%APY). You can do both at the same time with a single 'zap' transaction. You're just betting that none of a basket of different stablecoins fail, and none of several lending protocols fail at the wrong time.

I just realized I could just offer liquidity in DAI-WBTC I’d probably earn more

Not really, I’m a solidity dev myself, if you can show the now this that allows it then do it

Where'd you learn solidity out of curiosity?

if any of the individual strategies involved in the vaults overall strategy have an exploit in the smart contract, or if any of the underlying stablecoins lose their beg, you lose literally all of your money before you can blink

thats the catch

There is some risk in holding WBTC over BTC, still better than holding Tether though.

At the solidity university of faggotland
Do you want to keep being a faggot or contribute to the conversation?

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lose their peg*
there is also decentralized insurance currently (pretty new concept), but that hasn't stood the test of time yet. If a big (multi hundred million dollar) hack happens and $COVER or any of the other insurance protocols fail to pay out, then everything just goes to 0 and won't recover for a couple years, most likely

Seethe, faggot
>guis what does proof of work mean

Is there EVER been a contract that operates for more than a year, then all of a sudden gets exploited?
Any example of that in the past?
Because there are already millions, if not billions, to earn from exploiting it, I find it hard to believe that none has been tired
Plus a hack that size is it really a risk? ETH has already shown it will fork and snapshot in case that happens

>I could earn $11k easy by placing 100k
in a year?

>ETH has already shown it will fork and snapshot in case that happens
the fork was a one off, there have been hundreds of millions of $ stolen in ETH and stablecoins since the eth fork and they haven't even considered doing another one since then.

more than a year? Im not sure. But plenty are hacked after a few weeks/months. Also, code changes, so even if there isn't an exploit now, one could be introduced in any of the stablecoins/smart contract strategies in the near-far future.

See It has already happened
We already recovered

Yeas so what I don’t like to look at graphs and be s

You're believing what you see at face value. Think outside the confines of what they say is occurring: imagine it was simply an illusion. Imagine they aren't legit.

Man you haven't been in/following crypto too long have you?

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Yeah so what
I like to enjoy life rather than looking at graphs all day

You mean Cronje with Yearn or Vitalik with ethereum? Because I can read a contract and understand if it can be hacked or not, but what you’re saying is the evm and the compilers are themselves hackable?
Why do I have to make the effort to go into the technical here and you have to post fucking romance book covers, this is not how any of this works

The catch is:
1) On most of these exchanges you pay anywhere up to 4% on the initial purchase as a transaction fee.
2) Capital gains tax applies to crypto
3) You pay tax on interest earned
4) There is usually a conversion/cash out fee at the end as well.
All that said, it's still a big plus.

>You mean Cronje with Yearn or Vitalik with ethereum? Because I can read a contract and understand if it can be hacked or not, but what you’re saying is the evm and the compilers are themselves hackable?
Senpai, hackable? What if it was coded from the start? What if, say, what you read wasn't what was occurring? If it was an illusion? Jason Parser, for instance.
>Why do I have to make the effort to go into the technical here and you have to post fucking romance book covers, this is not how any of this works
New to Zig Forums, are we? Kek, thanks, that was a good chuckle. I needed that. I'd like this quote to be a banner here.

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