I’ve been using Anchor Protocol to earn interest by using bETH as collateral and also borrowing against my bETH to store UST and earn interest. My question is this: is bETH the same as holding ETH? Not sure if I’m asking correctly. When ETH 2.0 happens, will my bETH value move along side of it?…
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A little background, i joined the crypto wagon during the peak of the bullrun with money that was considered safe to be locked out for quite a while. And then the first crash hit and i was down >70% due to panic selling and bad trading. After that hard lesson, i put all the remaining…
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Risks such as flash loan exploits, hacks, and stablecoin de-pegging are a serious deterrent for DeFi adoption. Now Steady State is seeking to push DeFi out of the “fear zone” by insuring funds held on decentralized protocols. Insurance for DeFi Steady State is launching a comprehensive insurance solution for decentralized finance (DeFi). The project shifts responsibility from individual users, and the protocol holding the underlying assets, and transfers that responsibility to Steady State insurance. Theoretically, this should allow all parties to sleep more soundly at night. Decentralized finance in its current form can never fully realize its potential: the risks from flash loan exploits, hacks, and stablecoin de-pegging mean that a large swathe of potential investors will simply never venture into the market. Any cursory examination of the sector makes it easy to understand why that is. A single flash loan attack in February of this year drained $37 million from C.R.E.A.M. protocol tanking the price of its native token by 30% in half an hour. In May, flash loan exploits on a single chain, Binance Smart Chain, totalled $167 million. These sorts of reports effectively place a handbrake on the market, slowing its growth and making bigger investors and institutions turn away. Without the additional safety that an insurance solution such as Steady State can provide, the growth of the sector will always remain underwhelming. Steady On Steady State posits that insurance issued through smart contracts can help to create a more efficient and better solution for decentralized finance. Parts of the insurance process which are currently carried out by humans (with all their inherent biases) can instead be carried out logically with code. Users can interact with the platform by first staking their assets as collateral, with Steady State using the capital to underwrite DeFi protocols. Users are rewarded for staking while simultaneously safeguarding funds. The project operates on what is called a direct-to-protocol basis. According to Steady State, the use of their insurance coverage and index pools optimizes capital efficiency. Steady State sources liquidity in a novel way which they say cannot be accomplished with user-centric models. All of this takes place in a community-centric environment, creating insurance policies that go beyond individual cover and instead cover multiple risk vectors for entire communities. Steady State has tagged this model “DeFi insurance 2.0”. Building the Market Steady State hopes that their approach to DeFi insurance will allow for the growth of a true risk market, inviting users to buy and sell collateral on a liquid secondary market. This will allow users to sell funds that may otherwise be locked up in insurance smart contracts. Over time it is expected that this form of collateral trading will help to further spread risk and make the ecosystem more robust. This will, in turn, help to build the credibility of the DeFi market, inviting large investors and institutions to participate in a number of ways. Insurance could even be a strong primary driver of adoption, as an area in which institutions can see a path towards direct participation in the market. If Steady State can create a solution which onboards existing DeFi users and attracts a fresh influx of capital from institutions and whales, the company could indeed be set to revolutionize the insurance industry.
The group identified the crypto space at risk from hacking, “lack of transparency around issuance and distribution” of tokens, and operational risks including outages during periods of extreme volatility.
has anyone tried this yet? https://oracle-factory.iex.ec/gallery submitted by /u/migs51 [link] [comments]
submitted by /u/CryptigoVespucci [link] [comments]
Before you start I do not recommend anyone to invest. All the data of this post are just speculation. Data from this post is from 12/10/21 Currently each moon is worth 0.19$. To be a millionaire with this value you’d need to have 5.3M moons. TOP1: If Moons had Bitcoin market cap of $1.1T, 1…
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Shiba Inu (SHIB) is still on a bull trend after its meteoric rise last week. The asset had rallied 266% and by the time the rally reached its peak, SHIB had grown over 400% in a matter of hours. Its sudden rise in price has been attributed to a number of things. One of the most prominent being the tweet by Elon Musk of his pet Shiba Inu which he had gotten last month. However, the price recovery had occurred at a point where the asset had been seeing massive amounts of coins dumped that led to a dip in its price. SHIB had hit a new six-month high at this point and sell pressures had mounted in the community. This was mostly due to the history of the meme coin which has no utility to speak of except the hype from its backers. SHIB Holders Dump Billions Santiment reported the digital asset had seen a record dump following its price rally. A reported 31.07 billion coins had been dumped by holders. Mostly from wallets that held between 1 million to 10 million SHIB in their wallets. Related Reading | FTX CEO Sam Bankman-Fried Reveals Reason Behind Billions Of Dollars Tether Purchase An interesting fact about this dump was that it had been mostly small traders who were dumping their bags. Contrary to expectations, Shiba Inu whales have mostly held their bags through the rally. While small-time traders shed their holdings onto micro traders. The dump patterns had shaken the price of the asset, causing its hold on its new highs to falter in the meantime. But this would prove to not have a lasting effect on the market given that the price of the digital asset had rebounded from its Thursday lows, with a green seven-day trading average of 83.45%. SHIB price falls to $0.000028 | Source: SHIBUSD on TradingView.com Shiba Inu Benefiting From The Altcoin Craze Bitcoin has shown investors the potential of investing in cryptocurrencies. But at its current value, investors have moved on to find what could be ‘the next bitcoin’ and altcoins have generally benefited from this sentiment. The push for short-term gains in the market is also a reason behind the success of meme coins like Shiba Inu. Over the long term, top cryptocurrencies like bitcoin and ethereum have proven to be the better choice. Altcoins, however, have shown the most promise with short-term gains, especially coins which are hype-driven. Related Reading | Bitcoin Over $100,000 Is Still Possible By Year-End, Says Research Analyst Projects like these will experience significant price movements in reaction to things like a celebrity tweeting or posting about them. Investors can see massive gains from investing in these projects in just a matter of hours. But these coins crash as quickly as they had risen. Usually due to the hype around them dying down. Or in worst-case scenarios, the developers execute a rugpull and leave investors to deal with their now worthless coins. Featured image from CoinGecko, chart from TradingView.com
This came from an IIF event yesterday where he also said, "Our clients are adults, they disagree, that's what makes markets. If they want to have access to buy or sell bitcoin, we can't custody it, but we can give them legitimate, as clean as possible access." He also called Bitcoin worthless and has previously…
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Bid and ask levels are flipping bullish as BTC/USD heads towards $60,000, data shows.
