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/biz/ - Business & Finance

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22118887 No.22118887 [Reply] [Original]

yETH vaults just went live and /biz/ is asleep as usual. you retards don’t have a clue what this means.

>> No.22118931

>Lock ETH
>Bug discovered in the contract code

Anon loosing money

>> No.22118971

>>22118887
How much ETH needs to be deposited in order to drop the APY to 10%?

>> No.22118988
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22118988

> anon deposit eth

>> No.22119132

>>22118931
>idiot

>> No.22119258

>>22118931
>what is nxm

>> No.22119274

Not even 8 hours and already 40k ETH in the vault.
Yearn will double their TVL this month.
Praise Andre and buy YFI.

>> No.22119284

>>22118887
you're not even earning ETH are you? kek

>> No.22119314

>>22119284
it borrows dai using eth and farms crv, which is then sold for eth

>> No.22119316

yCRUG pair news dropping this week!

>> No.22119345

>>22118887
For anyone wondering what OP's on about

https://yearn.finance/vaults

>> No.22119372

>>22118887
Fuck YFI really is going to the top 10 isn't it? Compound got there as a bare-bones pile of bullshit and everything points to YFI somehow being undervalued STILL.

>> No.22119444

>>22119372
of course it's undervalued, don't look at the price like a brainlet, but at marketcap. Now look at top 10. Is ripple worth more than yfi, something that generates income from fees? Bitcoin cash, sv? Litecoin?
The answer is obvious

>> No.22119464

>>22118887
What's the address faggots?

>> No.22119465

yfi is the best defi out there, that being said its massively overvalued as is

>> No.22119511

>>22119444
nice trips
i cant believe those shitcoins are still in top10

>> No.22119625

>>22119465
it's massively undervalued

>> No.22119680

>>22118887
i put money in this shit before it was on the UI. biz has been sleeping on everything lately its really sad

>> No.22119702

>>22119258
acually, what is nxm? Is the ETH you put in YFI guranteed, as in will you get a refund if it pulls a YAM and loses your shit?

>> No.22119787

>>22119274
30 minutes later, 10k ETH more in the vault
you can do the math

>> No.22119814

>>22119702
nexus mutual. insurance for smart contracts. yfi is covered bitch

>> No.22119826

>>22119680
how do you do that?

>> No.22119846

y ethvault is only 80% apr. im getting 300,000% apr on KIMCHI

>> No.22119850

>>22119814
okay wait. So this shit pays 10% + intrest on ETH, and you're fully covered in case something breaks?

>> No.22119877

>>22118887
Cronje is a piece of shit. Labels it "extremely risky" on his twitter and doesn't bother to explain any of the risk. Not even on the UI, which says NOTHING other than "70% APY, deposit here".
There are huge inherent risks here. If ETH goes down at all, your ETH collateral begins literally begins to vanish. But let's spare the details for the yield farming mob.
>>22119850
Nope.

>> No.22119899

>>22119846
>300000% on KIMCHI
If I wasn't in clownworld already I would have batted an eye at this.

>> No.22119923

>>22119680
>degen etherscan-frontrunning a contract specifically created to give steady and stable returns with strategies that have been vetted to be safe long after their point of highest return
>doing so while there is a 5 digit apy meme farm available

>> No.22120016

>>22119877
it's not that risky, there's one hour before oracle updates on makerdao (by design), all it takes is a bot to reduce leverage

>> No.22120026

how often do APRs fluctuate
seems like a pretty bad metric to measure returns by years if they're constantly doing so

>> No.22120096

>>22120016
Maybe there's something I'm missing (probable when nobody explains the technical aspect of the contract), but wouldn't the ETHUSD pair decreasing inherently reduce the amount of ETH? I'm a long-time MKR user; all I know is that deposit eth, borrow DAI -> price decrease -> less eth when position is deleveraged in response to price decrease

>> No.22120127

>>22120096
>less eth when position is deleveraged in response to price decrease
are you using defisaver to be margin long?
The number of eth stays constant unless the position is liquidated below 150% collateral ratio.

>> No.22120217

>>22120127
does this hold for mooniswap? how can i tell if i am going to get fucked on my ETH/BZRX liquidity pool if bzx continues to crash

>> No.22120230

>>22120127
No, im talking about the net ETH value of a vault.
net ETH = total eth - (debt / ethusd )
ethusd decreasing would mean decrease in net ETH. the total eth wouldn't change, but the net ETH is what matters

>> No.22120243

>>22120217
no liquidity pools are a completely different beast
>>22120230
but that's only an issue if you sold your dai, if you lend it you can pay it back

>> No.22120295

>>22120026
They average it out based on current daily/weekly returns. It's unlikely to be fully accurate but gets fairly close, on the assumption that it doesn't tank somewhere along the way

>> No.22120305

>>22120243
okay, makes sense. if thats the case, i dont see where this massive risk lies. people are saying ethusd dropping will result in eth loss, and if that's not why, i cant imagine how that could happen apart from contract failure

>> No.22120317

>>22120243
fuck man this shit is confusing. since you seem to know your business, can i just ask you
a) is funding the eth/bzx liquidity pool on mooniswap a good idea? will 1inch tokens be worth anything when they debut? will i get fucked?

b) how do i keep from losing my money? how to know when is a good time to get out. i see a lot of people removing their liquidity the last 48 hrs and it makes me nervous, like they know something i don't

if i fund 1% of the liquidity does that mean i'm getting 1% of the fees?

>> No.22120344

>>22118887
Of course we do. Highly unsustainable. Make your money and get out soon into shit like Suterusu.

>> No.22120360

>>22120305
well this vault needs a bot for automatic deleveraging, so there's some risk
>>22120317
read up on risk profile in pools
https://medium.com/@pintail/understanding-uniswap-returns-cc593f3499ef
the tl;dr is that you lose on every price movement, but if volume is high enough fees can offset that. Stronger moves = bigger loss
>b) how do i keep from losing my money? how to know when is a good time to get out. i see a lot of people removing their liquidity the last 48 hrs and it makes me nervous, like they know something i don't
this is a question about bzrx price not about pools
>if i fund 1% of the liquidity does that mean i'm getting 1% of the fees?
yes

>> No.22120418

>>22120360
thank you sensei. that's interesting- i lost both when BZRX went from 80 to 1.60 and then lost in a different way when it went from 1.60 down to .95, just in a different way. but somehow still made money.

if both eth and bzrx go up in the next few weeks, will that be good for me as a liquidity provider? ugh

how the fuck am i supposed to learn all this shit? is there like a FAQ or something? i lurk here and crypto twitter and read the teams websites but jeez it's a lot, and moves so fast

>> No.22120456

>>22120418
enter this in js console
"let il = ratio => 2 * Math.sqrt(ratio) / (1+ratio) - 1;"
il(1.25) tells you how much you lose (as a fraction) when one token rises 25% compared to the other in a pool. The loss is relative to holding both 50%/50%
note it's about total value, not amount of one token.
If fees are higher than il you make money

>> No.22120640

>>22120456
i have no idea what you just said but i put in 3 eth i purchased at 250 and 1900 BZX purchased at .4 and right now it says i am entitled to 3.57 eth at 468 per and 1610 bzx at 1.05 per

according to my math skills, my original investment was worth 750 for the ETH+ 750 for the BZRX= 1500

my current investment is 1638 for the ETH + 1722 for the BZRX = 3360, so a little bit more than a 2x after i factor in gas fees and whatnot. i think i'll probably remove it tomorrow.

holy shit it wants to charge me 50 goddamn dollars to remove my liquidity?! what the fuck man