/biz/ - Business & Finance

imagine being OP and not being LINKPILLED yet

Celsius is not fuckind defi its literally custodial jew solution no matter how much kikes push it as narrative

https://defipulse.com/

Pic related. Defi was small in 2017, grew 400% in 2018 and 200% in 2019. After dipping on the beer virus it is rapidly growing again.

Outside of Maker, about 80% of this Defi is using chainlink. Most of the growth is in products using chainlink.

So yes it is quite bullish. Defi is growing extremely rapidly. Chainlink is a huge proportion of the total Defi market, and Chainlink's share is getting larger. Essentially, chainlink has a growing share of a rapidly growing pie.

>>19375646
Synthetix: Uses chainlink. Started in 2019, ballooned to be the second largest Defi product with $125 million as of now.

>>19375665
Aave. Uses chainlink. Started this year. Pic related says it all

>>19375646

Phew i like it. Tell me more Anon, i'm unironically writing an article on it to improve my knowledge.


so far i've introduced and compared DeFi to CeFi and show that chart from DeFi pulse


Why does DeFi need LINK? (more than garbage in garbage out)

Be as specific as possible.
God bless you Anon

Defi is literally homosexual finance solutions made by homos for homos. It is the equivalent of being a 10 year old boy and loving Britney Spears and Backstreet Boys music.

>>19375750

We're still figuring out whether DeFi needs LINK, and I say this as someone with six figures in LINK. So far though, other oracle solutions have failed almost immediately. DeFi might need LINK because:

>Flaws in the coding of a single oracle put millions of dollars at risk
>Outage problems can fuck single oracles, putting millions of dollars at risk

>>19375750
There are various types of Defi but the vast majority of them need oracles. If you're making smart contracts with hundreds of millions of value in them, you want the best oracles and that's chainlink.

There was actually a good example recently with bZx. Basically made bitcoin futures in the form of smart contracts. For example, lets say we trade a Bitcoin future in the form of a smart contract. You deposit $10,000 into the contract, I deposit $10,000. I want to go long $10,000 worth of bitcoin and you want to go short. It expires in a month from now. One month from now, lets say Bitcoin is 20% higher. The smart contract checks the price of bitcoin using an oracle, sees that its up 20%, and pays me $12,000 and pays you $8000, so i make a $2000 profit.

This is what bZx were doing. They had bitcoin futures which used Kyber oracles which referred to Uniswap. So far so good. However, someone figured out that bZx bitcoin futures were more liquid than the Uniswap bitcoin market which they were relying on. So they shorted bitcoin on bZx, then they shorted it on Uniswap. Because Uniswap was not liquid they managed to push the price of bitcoin on Uniswap down substantially below where bitcoin was trading elsewhere, and they made a $360k profit.

If they were using chainlink oracles with multiple data sources, this would not have been a problem. The chainlink network would have automatically discarded the bad Uniswap data.

You can read about it below. bZx ended up switching to chainlink.

https://www.trustnodes.com/2020/02/16/bzx-to-use-chainlink-after-flashloan-kyber-price-manipulation-of-tokenized-bitcoin

>>19374908
>>19375548
>>19375589
>>19375646
>>19375665

Either one of these services cost zero unless I were to make many calls. Let's compare. It costs me about $600 to make 10,000 calls daily... for either one of those APIs... chainlink costs about I think a third of a token?

1/3 of Chainlink, let's give you guys the benefit and say it's $1.00, so about .33 cents. Let's round down more. 30 cents. It costs me 30 cents a call.

10.000 x .3 = $3,000 for one day

vs

$600 for one day

Let's pick the shortest month of the year, 28 days. So in 28 days it would be...

10.000 x .3 = $3,000 x 28 = $84000 (a dev's annual salary)

vs

$600 for one month

Hmmm. Even if they got the cost of their API down to a fifth (which they won't) and the PRICE WENT DOWN (contrary to what the holders want), it would still, NEVER BE AFFORDABLE

FREEMIUM
R
E
E
M
I
U
M

>>19375750
>>19375891

TRESHOLD SIGNATURES

are for the ETHEREUM network.

AND IF THEY ARE IMPLEMENTED

It means waiting 30+ seconds for a call

Again... adding to the time variable.

Maybe if you niggers knew anything about comp sci you wouldn't spouse such nonsense you DON'T UNDERSTAND.

THRESHOLD SIGNATURES MEANS...

Taking a bunch of transactions
>your mom
>her nig bf
>your cuck dad
>your whore sis
>your neet ass

WAITING... and then grouping them together as one lump sum.

YES. It would reduce cost.

BUT... it would increase call time by about X1000 the wait.

THERE IS NO WAY AROUND THE CAP THEORM PROBLEM

MATHEMATICALLY IMPOSSIBLE

>>19375887
Nice try

Without LINK DeFi may aswell be CeFi
I know why, i just cant put it into clear words

It's about security. If the data inputs are trash then so will be the outputs. Without Chainlink the whole 868.2m in DeFi might aswell be in CZs pocket

Seriously i'm trying to help people understand (myself included)

>>19375903
The price of making a call will be set in dollars eventually not chainlink, so the price of chainlink will be irrelevant from the point of view of someone who is making smart contracts.

I assume when you say $600 for making 10,000 calls daily, you are talking about directly making calls to the API yourself? Or are you talking about another oracle solution?

Assuming you're talking about connecting to the API yourself, bear in mind that firstly you would not be able to implement that into a smart contract, and secondly we can assume as usage goes up it will get cheaper.

>>19375912
more like creamium

>>19375903

Link isn't giving you one API call, it's giving you anywhere from 7-21 at the moment, and can expand indefinitely. So multiply the actual value of what you're getting by that much. It won't make sense for low value devs to pull from the Link network for a long time, but Link isn't aiming for low value devs at this time.

>>19375932

Again, we're still ascertaining whether or not that's the case, but yes prospects are looking stellar for LINK in this space.

>>19374908
It really fucking depends on how easy it is for US customers to access good apps
MCDEX aims to be a decntralized BitMex and that is exactly what we need
But needs to be accessible to in the United States. A lot of these apps I have gone to and am like okay I would try this. And then I'm restricted unless I want to use a VPN.
Not worth the effort.

Anons - There is a rumor going around that Aragon Court (ANJ) and Aragon (ANT) will be listed on Coinbbase in July.

This isn't too surprising, because Brian Armstrong, Coinbase CEO and Founder, is a huge supporter / investor in Aragon.

Coinbase liquidity could make both ANJ and ANT moon quickly.

Don't miss out. Few understand the massive potential of ANJ and ANT.

Buy ANJ on Uniswap: https://v1.uniswap.info/token/0xcd62b1c403fa761baadfc74c525ce2b51780b18

>>19376149
fuck you

>>19375891

Thanks so much. Truly appreciate it!
Nice to find someone decent on /biz and not
"Sergey betrayed us, we were supposed to all be in this together"

https://medium.com/@chainlinkgod/scaling-chainlink-in-2020-371ce24b4f31
Threshold sigs are necessary for scaling for those billion dollar contracts. Truly a revolutionary addition to LINK and allows node operators to save on eth and up their profit margins

>>19375903
>18 decimals