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/biz/ - Business & Finance

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22232504 No.22232504 [Reply] [Original]

The numbers are high for now but when it settle downs with enough volume, BZX will still have better interest rates. If the FUD is all done Biz, here is why BZX will beat Aave.

ETH Lending rate in Aave is 1% and BZX will never go below 2%. Here's why,

Aave's lending interest can only be paid by borrowers. There are no margin traders yet. Margin traders will pay much higher fees than borrowers. So, until Aave V2, BZX will offer the best lending rates and where do you think the whale yield farmers are going to go? BZX. With increasing TVL, Staking fees will also increase and hence more people will buy BZX. It will be a loop and before you know, this will be big. Get in now.

>> No.22232530

WHAT THE FUCK

>> No.22232569

Will check it out. If this is the case I’m going to test it

>> No.22232583

>>22232530

Yeah, I was shocked too. This is going to pump so much that there are going to be posts like why did Biz asked me to sell this.

>> No.22232589
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22232589

>>22232504

https://explorer.bzx.network/

TVL at 7.4 Million now.

>> No.22232602

>>22232569

Yes mate. Right now, they are in dutch auction mode. So, the APY will settle down with TVL but imagine 100% higher APY here. Anyone with large funds of ETH/DAI will be in BZX and not Aave.

>> No.22232611

>>22232504
Yes I'm going to deposit all my funds to a lending app made by idiots who thought instantaneous uniswap price is a good oracle.
What could go wrong?

>> No.22232616

If this had launched 3 weeks ago, instead of coinciding with a general market sell off, it would already be at $2.50. I expect this to be one of the top performing assets during the next month.

>> No.22232628

Lets not forget that bzrx is the most audited project not only in defi but one of most audited in crypto space. Just go through their twitter and DYOR

>> No.22232632

>>22232504
>Aave's lending interest can only be paid by borrowers. There are no margin traders yet. Margin traders will pay much higher fees than borrowers.
it tells me a lot that apparently you don't even realize dydx exists

>> No.22232638

Good Eye. The raise of bzrx is obvious, one will know only if they have used the platform. I was in aave as well. This has to moon without a choice

>> No.22232639

>>22232611

Yeah. Audited by Certik and Peckshield. So, just GTFO

>> No.22232654

>>22232632

I do mate. They don't have a coin and no staking and hence, lesser rewards for people to go there. The ones lending and trading will also get vbzrx token as rewards for the first 3 months. So, overall much better value prop.

>> No.22232685

>>22232632

And BZRX has more pairs than dydx has right now despite dydx trading at 40M TVL. So, DYOR. There is a reason why BZX was hyped.

>> No.22232693

This seems to be accurate.. And yea this going to pump hard... I don't want to lose out on this.... Gonna buy a lot BZx now

>> No.22232710

>He still doesn't know you can stake and lend your bzrx at the same time

>> No.22232712

>>22232685
the reason dydx has low tvl is because high gas fees killed on-chain trading.
That's why they are launching a zk-rollup based exchange, planned near end of the year.
Nobody is going to use bzrx trading, or any fully layer1 order book trading in general.

>> No.22232740

I am sure this will touch $1.5 in 24 hours! The chart readings are so favourable for $1.5

>> No.22232750

>>22232712

Keeping FUDDING yourself mate. BZX has CHI Token integration which means 50% lesser fees than dydx. So, by your logic, all dydx users should be in BZX right now since "Whales care about gas fees" for margin trading.

>> No.22232771

>>22232616
This

>> No.22232786

>>22232632
Does dydx have permissionless listing?

>> No.22232798

>>22232712
>>22232750
dydx has its own problems, which prevented it from getting much traction, on phone will give reasons later

>> No.22232800

>>22232710
Proof

>> No.22232809

>>22232710

This. Even Aave doesn't have the functionality for people to lend aave. Right now, the lending rate for BZX are 0% but soon even a 1% rate will be better because you are literally earning more money on top of staking.

>> No.22232824

>>22232800

I just replied with proof. You can lend it. Right now, they are finding the equilibrium during the dutch auction phase and hence the lending APR is 0%.

>> No.22232829

Absolute retard if you think this will not take a massive chunk out of Aave’s TLV. Also the main reason it will pump is because they aren’t printing their token like crazy for degen farmers

>> No.22232848

Extremely bad timing with the launch but atleast it gave everyone with a brain an opportunity to buy cheap. The price does not even matter short term as i am fully staked.

>> No.22232871

>>22232800
I've done it, it works.

>> No.22232873

>>22232504
I have also seen that Fulcrum has high rates
One question guys: what's your plan when these APY will go down?

>> No.22232882

Im a retard and i need some handholding. Can someone explain to me how lending your shit to these platforms (aave/bzrx) is profitable? What is TVL?

>> No.22232918

I have a $100 DIA I'm looking to lend out. What other platforms besides Aave?

>> No.22232921

>>22232873

That's the beauty of the protocol and Kyle's vision. People flock over for the high APY and Fuclrum's borrowing rate goes down for margin trading and settles around the market rate. But even after that, BZX will have better APY than Aave/dydx because fixed interest borrowers care about the APY% but margin trading whales will be okay to pay even higher.

>> No.22232961

>>22232632

Wanna know something else? BZX TVL is already at 20% of dydx TVL despite launching during a market wide sell off. It is going to overtake dydx within the next week?

>> No.22232987
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22232987

>>22232632
I'm still holding 50k BZRX and feeling comfortable as fuck

>> No.22233013

Tbh I don't know how these lending platforms work. I need a good schooling

>> No.22233043

>>22232750
chi token only averages gas costs over long periods, but if gas prices stay consistently high it doesn't help anything.
>>22232961
token functions as marketing

damn I'm really going to launch my own project after farming yields drop, even absolute worthless shit like bzrx is getting millions today. Cream just copied compound and they are getting a lot too.
No audits can fix retarded devs, and bzrx isn't going to be able to externally audit every little change, and no audit catches everything.

>> No.22233044

>>22232504
Uhhhh HOLY SHIT

>> No.22233051

>>22232921
what have the whales to do with BZX anon?

>> No.22233065

>>22232583

im already wondering that

>> No.22233087
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22233087

>>22232632
DYDX is a dead project, because it uses an order book system.

Order books means low liquidity and massive slippage. bZx uses chad liquidity pools.

DYDX = IDEX / Etherdelta
BZx = Uniswap

>> No.22233135

>>22233087

I think he is an Aave cocksucker who didn't realize that the actual reason Aave went down is because people are leaving there soon. I spoke to some Aave whales and they are all looking to accumulate bzrx right now since they know why exactly Aave became as big and tells me that BZX has even better value prop to beat Aave soon.

>> No.22233157

>>22232824
nice. so all bzrx stakers also will lend their bzrx for trading. which means TVL will skyrocket. because atm there are alread 40-45% tokens staked

>> No.22233169

The numbers dont lie, BZRX > Aave. Now look at market caps.

>> No.22233199

Buying more.

>> No.22233271

People who dislike money obviously

>> No.22233365

Where to buy bzrx?????

>> No.22233390

Where to buy bzrx?????????

>> No.22233407

We are sooo good men ! bzrx 4TW

>> No.22233510

>>22233390
binance, uniswap

>> No.22233536

Friendly reminder to the wagekeks

https://defirate.com/

>> No.22233666

>>22233013
>>22232882

Same here. Can someone explain how this works?

>> No.22233887

>>22233666
Nice trips

TVL = total value locked. Basically how much money is on the platform.

There are always people looking to borrow (maybe to margin, bet on something else) and people looking to lend (for interest)

Now P2P lending is difficult, it's very hard to find another guy to borrow from / lend to, and who knows if he's a scammer. Enter BZX who is a trusted party that will facilitate this

What BZX does is maintain pools of coins so that you can lend to it (BZX promises you interest) or borrow from it (if you provide some form of collateral)

Say you have 10 ETH doing nothing in your wallet and you want some gains, sure lend it through BZX, collect interest and withdraw your principal + interest when you want it back

If you have a use case for borrowing (maybe you got ETH but you want DAI, and you are not willing to give up your ETH), you can borrow from BZX so long as you provide enough ETH as collateral. When you want to return your DAI you need to return the sum you lent + interest, and you will get your ETH back. But note that if the ETH you put up as collateral loses too much value, you may get liquidated, you don't need to return the DAI anymore but your ETH gets eaten up

>> No.22233914

>>22233887
sorry, edit
*When you want to return your DAI you need to return the sum you borrowed + interest, and you will get your ETH back.

>> No.22234085

>>22233887
and what are the risks?
can my lend tokens be lost forever or BZX or AAVE will repay me them anyway when the lending position is liquidated?

>> No.22234101

>>22233914
(continued)

So obviously BZX takes a cut of fees and shares it with all the frens with bzrx, who have locked up their tokens by staking them

When tokens are staked they are usually considered out of circulation, which means there are less BZRX out there and thus positive for price

Most people do not know this, but half of the fees are saved by BZX to build up an insurance fund. In the future people with BZRX will be able to redeem their tokens for an equivalent proportion of the fund. This is big, because the token will be asset backed. There will be a floor value based on the size of the fund, and the token price will never fall below the floor value.

The only other reason why this fund could be used is if there is a need to compensate users for any exploits. The team have engaged certik and peckshield to audit the code, both are among the best in the business, and they are planning for more audits. This means they are doing all they can to improve security and minimize the risk of a black swan event

>> No.22234114

>>22234085
let's say I would like to lend 5k linkies through one of this platforms
will I receive links as my interest or native tokens?
and would you consider such operation a risky one considering that 5k linkies is quite a big part of my all linkies?

>> No.22234116

>>22233887
That's really interesting, thanks.

So on the lender side, BZX essentially functions as a savings account with high interest? Is there any risk in lending, could you lose your tokens?

And on the borrower side it sounds even more interesting because I don't see exactly how it is in someone's interest to collateralize ETH and pay interest in order to get some DAI (that they will anyway have to return), instead of just temporarily swapping ETH for DAI?

And even more importantly, aren't people who borrow usually the ones who currently don't have funds? Does all P2P ending work with collateral? The collateral actually seems like the biggest obstacle for use here.

>> No.22234147

Isn't the borrow rate too high? Who the fuck would borrow at these rates

AAVE is gonna eat everyone up. A lead of few months is years in cryptoverse.

>> No.22234159

>>22234114
+ which is saver?

>> No.22234201

just bought another 75k, biz is sleeping big on this haha. Made a fortune with LEND and now this, 2020 is full of gifts for me thanks for the weak hands guys.

>> No.22234242

>>22234085
if you lend you never lose, it's just that you can't use those coins when they are lent out
borrowers can get liquidated though, if the value of what they put up becomes lesser to the point that it almost goes below the value of what was borrowed. obviously bzx can lose here so they close the position and sell your collateral to cover what you borrowed.

>>22234114
you will get more link

I suggest everyone read this https://defipulse.com/blog/zero-to-defi-cdai/

>> No.22234342

>>22234242
and when can I get my tokens back?
when the loan is paid or is there a way to get them back earlier
thanks for source; I'll read it soon

>> No.22234509

>>22234116
yes there is always a risk, if there is a hack or exploit, which has happened before. this is why the team engaged two auditors. Most other projects only do 1 audit

my eth-dai example was a bit shit, maybe LINK-DAI would make more sense? i want to borrow LINK so I put up a fixed amount of DAI. If the LINK i borrowed moons, I sell it with profit, then pay back BZX with interest. What is left is your profit. There are many situations where borrowing makes sense. Margin is a form of borrowing

>>22234147
There is a yield farming campaign, if you borrow or do margin trades you can get vbzrx, there's 5 million distributed every week

>>22234342
If you lend you can withdraw at any time, you will get your tokens back + some interest

>> No.22234736
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22234736

Ok bois. With how the market is right now, when can we expect $2? It's never a sub $1 coin.

>> No.22234923

>>22234736
if 10k holds and the defi meme didnt die maybe next week above 1 and 2-3 weeks 2-3usd aka EOM

>> No.22234954

>>22234923
10k BTC*

>> No.22234967

use link as collateral on aave, borrow DAI, deposit DAI into yearn DAI vault.

>> No.22235211

>>22234509
Ty anon for all the info. Im still trying to wrap my head around this. Since you mentioned margin, can you borrow more than what your collateral is worth? Otherwise I cant imagine why would people borrow instead of just swapping the token

>> No.22235331

4$ eom

>> No.22235810

>>22232504
Already farming most my stables in there. Love all the audits they have. Not farming in food shits anymore

>> No.22236059

migration complete sir

>> No.22236106

>>22235211
you do this because you dont want to lose the exposure to a specific coin. for example do you want to hold ETH? but also want to gamble on other shitcoins? Lock your ETH and gamble on shitcoins.