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/biz/ - Business & Finance

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21745282 No.21745282 [Reply] [Original]

How does this yearn.finance shit actually work? Got some yaLink couple of days ago and its aLink value hasn't appreciated at all. The ROI is supposed to be very high but I haven't seen any yet.

>> No.21745313

>>21745282
No wait scratch that. It has appreciated 5 aLink in 24 hours. Very nice.

>> No.21745400

...you guys have no idea what I'm even talking about, do you?

>> No.21745521

>>21745400
of course, you deposit yearn deposits LINK into Aave, takes out a loan with the collatoral as stablecoins, then does some risky shit with high ROI make more stablecoins to buy more LINK. Simple.

>> No.21745657

>>21745313
So where can you swap the earned aLink to real link?

>> No.21745898

>>21745400
Yep. I put a suicide stack (10K links) there for shits and giggles and I'm already living off that

>> No.21745919

>>21745898
What is the risk of you losing your stack?

>> No.21746026

>>21745919
Unbelievably high.

>> No.21746060
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21746060

>>21745521
Yup. I swapped my Link for yaLink directly on Zapper.

>>21745657
On Aave

>>21745898
Nice. With current ROI I could live off my stakings as well. Not staking more for now, as it's still quite risky in my books.

>>21745919
yaLink is based on a chain of DeFi services, such as Aave and Curve. Any piece of that chain is compromised and you risk losing your stack. Wouldn't put your whole stack in, but it's a very interesting experiment.

>> No.21746159

>>21745919
I don't care if I lost them anyway this is just degenerate stuff. I'm already rich thanks to Link so 0 fucks given

>> No.21746377

>>21746159
It's degenerate as fuck. It's also something that trad finance jews have been doing for decades.

>> No.21746403

I threw LINK onto AAVE but I am confused as to where you get aLINK for dropping into the vault? There is no mention of aLINK on app.aave.com ?

>> No.21746474

>>21746403
I think you have to do it through yearn, aave uses a* tokens internally, not publicly. Yearn uses the AAVE API to interact AFAIK, but don't take my word for it, I've never used either.

Just researching.