bct_ail
Legendary
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Activity: 2660
Merit: 2229
https://t1p.de/6ghrf
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March 02, 2021, 11:04:15 PM |
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The bot logs in with user name, make a new post with the lovely pictures Wink and does log off. oh yay, the awesome waves. support lol the same high support-level as in their Discord channel... hundreds of users online, but a ghosttown on the part of Waves-team. Posting "ETH giveaway" scam-links there? No problem. Imo unbelievable, this "we don't give a flying f*ck"-feeling from WavesHQ-side towards their investors everywhere. 💩 Hey there! Could you please clarify what threads on Discord are missing answers from the team? We'll sort it out! It is not just Discord, it is about this forum. Here are so many open questions and suggestions and we would be very happy if you sort it out here on bitcointalk.
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Waves.support
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March 03, 2021, 08:38:19 AM |
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The bot logs in with user name, make a new post with the lovely pictures Wink and does log off. oh yay, the awesome waves. support lol the same high support-level as in their Discord channel... hundreds of users online, but a ghosttown on the part of Waves-team. Posting "ETH giveaway" scam-links there? No problem. Imo unbelievable, this "we don't give a flying f*ck"-feeling from WavesHQ-side towards their investors everywhere. 💩 Hey there! Could you please clarify what threads on Discord are missing answers from the team? We'll sort it out! It is not just Discord, it is about this forum. Here are so many open questions and suggestions and we would be very happy if you sort it out here on bitcointalk. All right! What questions are now opened?
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xyz
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March 03, 2021, 08:43:44 AM |
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The bot logs in with user name, make a new post with the lovely pictures Wink and does log off. oh yay, the awesome waves. support lol the same high support-level as in their Discord channel... hundreds of users online, but a ghosttown on the part of Waves-team. Posting "ETH giveaway" scam-links there? No problem. Imo unbelievable, this "we don't give a flying f*ck"-feeling from WavesHQ-side towards their investors everywhere. 💩 Hey there! Could you please clarify what threads on Discord are missing answers from the team? We'll sort it out! It is not just Discord, it is about this forum. Here are so many open questions and suggestions and we would be very happy if you sort it out here on bitcointalk. All right! What questions are now opened? Nice if we can now communicate with you! My first question: there was announced some weeks ago an airdrop of USDN at binance and huobi for waves holder. When will it paid out?
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... Es sind die glücklichen Sklaven der Freiheit größter Feind... (Heinrich Hoffmann von Fallersleben, 1798-1874)
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Waves.support
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March 03, 2021, 10:01:08 AM |
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To use Swop.fi, make sure you have a Waves wallet installed and connected! If you're new to the service, this article will give you a crash course.
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Waves.support
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March 03, 2021, 11:25:23 AM |
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The bot logs in with user name, make a new post with the lovely pictures Wink and does log off. oh yay, the awesome waves. support lol the same high support-level as in their Discord channel... hundreds of users online, but a ghosttown on the part of Waves-team. Posting "ETH giveaway" scam-links there? No problem. Imo unbelievable, this "we don't give a flying f*ck"-feeling from WavesHQ-side towards their investors everywhere. 💩 Hey there! Could you please clarify what threads on Discord are missing answers from the team? We'll sort it out! It is not just Discord, it is about this forum. Here are so many open questions and suggestions and we would be very happy if you sort it out here on bitcointalk. All right! What questions are now opened? Nice if we can now communicate with you! My first question: there was announced some weeks ago an airdrop of USDN at binance and huobi for waves holder. When will it paid out? Huobi airdrop is now distributed, as for Binance, we expect it soon as well!
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Waves.support
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March 03, 2021, 01:45:48 PM |
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🤔 DeFi or CeFi? During a stream on Youtube, Waves experts will discuss this opposition, trying to figure out which approach will prevail! Get ready for an insightful talk! You can join the discussion with Inal Kardanov, Aleksei Pupyshev and Sten Laureyssens via a live chat.
📺 Register here to receive a reminder on the day of the event!
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JohnSilver
Sr. Member
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Activity: 1026
Merit: 280
🇧🇬 Crypto Since MMXIII
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March 03, 2021, 07:44:21 PM |
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Are there more projects planned on waves blockchain to work in similar way like Swop, and maybe something like uniswap exchange for waves? It has much lower fees than ethereum and good potential for growth this year.
It depends on what you mean by such projects ... For example, in my Ratatouille project, liquidity is not provided on a website, but directly on the decentralized Waves Exchange. The annual profit of 40% is not particularly different, and also as an advantage we can note the immediate deposit and withdrawal of funds that are in USDT and USDC. The deposit service fee is 2% and is charged upon withdrawal. All this works on a decentralized smart contact, including arithmetic, and generally does not need a site. You can make a deposit by making a direct purchase on the Waves Exchange in RATS / USDT or RATS / USDC pairs. The contract is located at "3PJ7RB5CC3Bnn44RNR2hceZ6wKsULnMSxPi" and can be accessed via Waves Explorer (Open Dapp button). More details at: https://t.me/defi_franklin
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coco23
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March 05, 2021, 07:26:21 AM |
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I am following Waves for a while now, and I am a big fan of the platform and like the direction it is going. I have a number of questions regarding the new developments on the Waves platform and would like to assess and understand their intrinsic risks better, it would be great if somebody could provide more knowledge or point me to a FAQ (if it exists) 1) The Staking rewards for the LP tokens are pretty high right now. (Like 10-15% for BTC and ETH and >40% for USDC and USDT) It is mentioned in the description of the Waves.exchange that the price of the LP tokens can never go down (however details are not mentioned). How is this possible? While logically this does make some sense to me for the stablecoins, I don't understand how this is achieved for volatile cryptos such as BTC or ETH? Is the liquidity there only provided to assets that are stable to BTC (or ETH respectively)? Or how is it done? 2) What are the risks of the Staking the LP coins? Of course I could imagine some sort of smart contract bug. Is there any other "black swan" event for those tokens? What would happen if for some reason the underlying asset goes down by 99%? What happens if the other side of the pair used for generating the stakes goes down 99%? What happens if ETH forks? (as most of the Staking is done on the ETH chain if I understood correctly) 3) Regarding the USDN tokens: They are backed entirely by Waves, is this correct? USDN has currently a backing ratio of ~2, so that way more Waves are locked than USDN are issued (in $). What would happen if Waves goes down by more than 50% and the backing goes below 100%? Would USDN fall below $1? 4) One last question about swop.fi. This looks like a great addition to the Waves platform and it also has a nice FAQ. However, I couldn't find how are prices made? The trading doesn't seem to go over the Waves.exchange directly (or does it? the prices don't match with the waves exchange orderbook though). For instance if I buy a huge amount of BTC for USDN on swop.fi, what exactly happens with the LP-pool? How does it balance the USDN and BTC amounts after the purchase? As there is the (deterministic?) AMM algorithm behind I wonder if this algorithm could be abused in some sort of attack, especially for the pairs with at least 1 non-stablecoin, for instance in a flash crash or sudden price jumps? Thanks in advance and keep up the good work
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hopenotlate
Legendary
Offline
Activity: 3486
Merit: 1231
Top Crypto Casino
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March 05, 2021, 10:52:29 AM |
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-snip-
4) One last question about swop.fi. This looks like a great addition to the Waves platform and it also has a nice FAQ. However, I couldn't find how are prices made? The trading doesn't seem to go over the Waves.exchange directly (or does it? the prices don't match with the waves exchange orderbook though). For instance if I buy a huge amount of BTC for USDN on swop.fi, what exactly happens with the LP-pool? How does it balance the USDN and BTC amounts after the purchase? As there is the (deterministic?) AMM algorithm behind I wonder if this algorithm could be abused in some sort of attack, especially for the pairs with at least 1 non-stablecoin, for instance in a flash crash or sudden price jumps?
Swop token price is determined as the number of USDN divided by the number of SWOP in SWOP/USDN pool : the same way as for all CPMM pools. Maybe this medium article will help you clear some doubtc about swop.fi pricing and risks https://medium.com/swop-fi/swop-fi-pricing-5f89ab8766ac
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l8orre
Legendary
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Activity: 1181
Merit: 1018
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March 05, 2021, 11:55:11 AM |
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I am following Waves for a while now, and I am a big fan of the platform and like the direction it is going. I have a number of questions regarding the new developments on the Waves platform and would like to assess and understand their intrinsic risks better, it would be great if somebody could provide more knowledge or point me to a FAQ (if it exists) 1) The Staking rewards for the LP tokens are pretty high right now. (Like 10-15% for BTC and ETH and >40% for USDC and USDT) It is mentioned in the description of the Waves.exchange that the price of the LP tokens can never go down (however details are not mentioned). How is this possible? While logically this does make some sense to me for the stablecoins, I don't understand how this is achieved for volatile cryptos such as BTC or ETH? Is the liquidity there only provided to assets that are stable to BTC (or ETH respectively)? Or how is it done? 2) What are the risks of the Staking the LP coins? Of course I could imagine some sort of smart contract bug. Is there any other "black swan" event for those tokens? What would happen if for some reason the underlying asset goes down by 99%? What happens if the other side of the pair used for generating the stakes goes down 99%? What happens if ETH forks? (as most of the Staking is done on the ETH chain if I understood correctly) 3) Regarding the USDN tokens: They are backed entirely by Waves, is this correct? USDN has currently a backing ratio of ~2, so that way more Waves are locked than USDN are issued (in $). What would happen if Waves goes down by more than 50% and the backing goes below 100%? Would USDN fall below $1? 4) One last question about swop.fi. This looks like a great addition to the Waves platform and it also has a nice FAQ. However, I couldn't find how are prices made? The trading doesn't seem to go over the Waves.exchange directly (or does it? the prices don't match with the waves exchange orderbook though). For instance if I buy a huge amount of BTC for USDN on swop.fi, what exactly happens with the LP-pool? How does it balance the USDN and BTC amounts after the purchase? As there is the (deterministic?) AMM algorithm behind I wonder if this algorithm could be abused in some sort of attack, especially for the pairs with at least 1 non-stablecoin, for instance in a flash crash or sudden price jumps? Thanks in advance and keep up the good work Thanks for formulating these questions! I have the same concerns, primarily about how well the contract has been audited.
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JohnSilver
Sr. Member
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Activity: 1026
Merit: 280
🇧🇬 Crypto Since MMXIII
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March 05, 2021, 12:37:40 PM |
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I have the same concerns, primarily about how well the contract has been audited.
Let them first convince us that everything on the gateways is fine. There is nothing stopping them from publishing hot and cold addresses so that everyone can be convinced of the balances in the Waves platform and other blockchains. Tales like "everything is fine" and "trust us" in the crypto industry are just funny ...
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unheiliger
Newbie
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Activity: 22
Merit: 2
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March 05, 2021, 01:46:27 PM |
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So for me it is looking like there is one ethereum adress handling all the ERC-20 token desposits. I followed just one deposit of mine to find out about that. https://etherscan.io/address/0x6871eacd33fbcfe585009ab64f0795d7152dc5a0#tokentxnsI think the transfer is working that way my wave account is linked via my specific ethereum token desposit address. When I perform a desposit that one is via smart contract directly transfered to the above "handle address" which if confirmed there gives me the balance on my waves account. Nevertheless I'am not a expert in that and I do not really see any hints on that adress how the interessts are created. Perhaps anyone else can skip in here for me.
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nightandday
Full Member
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Activity: 204
Merit: 137
SmileyGnome
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March 07, 2021, 01:26:03 PM |
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I am following Waves for a while now, and I am a big fan of the platform and like the direction it is going. I have a number of questions regarding the new developments on the Waves platform and would like to assess and understand their intrinsic risks better, it would be great if somebody could provide more knowledge or point me to a FAQ (if it exists) 1) The Staking rewards for the LP tokens are pretty high right now. (Like 10-15% for BTC and ETH and >40% for USDC and USDT) It is mentioned in the description of the Waves.exchange that the price of the LP tokens can never go down (however details are not mentioned). How is this possible? While logically this does make some sense to me for the stablecoins, I don't understand how this is achieved for volatile cryptos such as BTC or ETH? Is the liquidity there only provided to assets that are stable to BTC (or ETH respectively)? Or how is it done? 2) What are the risks of the Staking the LP coins? Of course I could imagine some sort of smart contract bug. Is there any other "black swan" event for those tokens? What would happen if for some reason the underlying asset goes down by 99%? What happens if the other side of the pair used for generating the stakes goes down 99%? What happens if ETH forks? (as most of the Staking is done on the ETH chain if I understood correctly) 3) Regarding the USDN tokens: They are backed entirely by Waves, is this correct? USDN has currently a backing ratio of ~2, so that way more Waves are locked than USDN are issued (in $). What would happen if Waves goes down by more than 50% and the backing goes below 100%? Would USDN fall below $1? 4) One last question about swop.fi. This looks like a great addition to the Waves platform and it also has a nice FAQ. However, I couldn't find how are prices made? The trading doesn't seem to go over the Waves.exchange directly (or does it? the prices don't match with the waves exchange orderbook though). For instance if I buy a huge amount of BTC for USDN on swop.fi, what exactly happens with the LP-pool? How does it balance the USDN and BTC amounts after the purchase? As there is the (deterministic?) AMM algorithm behind I wonder if this algorithm could be abused in some sort of attack, especially for the pairs with at least 1 non-stablecoin, for instance in a flash crash or sudden price jumps? Thanks in advance and keep up the good work Thanks for formulating these questions! I have the same concerns, primarily about how well the contract has been audited. These are excellent questions I would love to see answered as well.
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jerry0
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March 07, 2021, 10:59:37 PM |
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Did waves.exchange wallet make a change again in the layout/how you log in?
I haven't logged into my waves.exchange account in a long time. When i used to log in, i had to type in my password when accessing the waves.exchange wallet. Back then i used waves lite wallet and the waves wallet and then it was the waves.exchange.
Right now, i see option is log in by
Email ledger software - log in via seed, private key or keystore file (not recommended)
Since i never connected my waves wallet with my nano ledger s, i assume i can't do that now. So i have to use either email or software right? And software is my seed? Which would you recommend?
Also, why does waves keep changing all these things? Back then the waves lite was with the google chrome store... then it changed to Waves New Dex.... then the waves.exchange.
So what do you recommend to log in with it? Email or seed? I previously had to type in my seed a while back when i used the waves new dex and then the waves.exchange so i assume do that? But that mean everytime after this, i need to type my waves seed every single time? So there is no more accessing waves account by password? I don't understand this.
Waves.support, can you answer this? Right now when i open the waves exchange program, it give me three options either
Email Ledger Software
When I click on email, it ask me to create an account. So i type in an email and password. But once i do that, i would have to confirm the link in the email? But once i do that and log in with my password, would i have access to my waves exchange account? Or i still need to type in my waves seed? Again i have my waves seed with me.
Or do i just click on software instead? I don't have the waves installed on my nano ledger s. But this is the same waves exchange program i been using on my computer ever since i downloaded it a while back when i had to use it after waves new dex no longer worked.
I did recall when the waves lite client no longer worked... i had to use the waves new dex and enter my waves seed to get into my account. Then put in a password to log in each time.
But once the waves new dex was no more and we had to use the waves exchange, i had to type in my waves password again to access it. Then put in a password to log in each time.
So which of these three methods do i choose? If i type in my seed, does that mean i need to type my seed every single time to access my waves wallet? If so, i dont like that. I would prefer to be typing a password each time. But why does it ask to create an email to connect my account? With waves lite client and waves new dew and waves exchange before this change, it never ask to link an email.
Can you or anyone else explain this? Haven't logged into my waves exchange wallet in a long time since i saw this new log in.
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Marquise$Museum
Jr. Member
Offline
Activity: 90
Merit: 1
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March 08, 2021, 06:01:44 AM Last edit: March 08, 2021, 08:25:00 AM by Marquise$Museum |
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Hello Team If you look at this page you can see how ledger exchanges are enhanced with user tagging and tethering of product quantity, KYC and Custodial info: https://niftygateway.com/itemdetail/secondary/0xd92e44ac213b9ebda0178e1523cc0ce177b7fa96/100010249This concept is applicable to waves NFTs or tokenized assets aswell and it is a necessary component to trade asset backed tokens which seem to be an emerging trend. The basic exchange ledger that everyone in here is familiar with: buy/sell on anonymous order book, is becoming obsolete because asset backed tokens are logistically complex compared to normal crypto. Nifty did an excellent job of leveraging old school gallery curation with blockchain and popularizing it with "Nifty" branding. I am aware that SignArt on waves is a similar app but it appears that their portfolio of clients is not as hyped as nifty/makersplace. Niftys UI does not require any major overhaul to waves exchange, it can be copied as a third party website and connected with exchange trades on the backend. When logistics of NFTs are automated and tracked openly with KYC,quantity, product type, and terms for exchange, it greatly simplifies user/company interaction because it reduces the need for external communication post trade. The example provided here is via second market resale, but this is also something that Marquise $Museum will be utilizing in the future when company NFT assets are fully distributed to collectors. So what I am requesting is a third party waves copy of niftys UI connected with this ledger on the backend: https://waves.exchange/trading/spot/6eV27VoMrNNQv9qbXcK164RdXbmA5sCFCZUXZ1Ltkx4p_BTCIf this was implemented, p2p exchanges in second market can be automated with inclusion of KYC and custodial info, terms of transfer, quantity, product type, image and video etc. This is something that simply cannot fit inside the tiny buy/sell orderbook. It requires a secondary wallet tab at the very least or UI similar to Nifty. The first change that must be implemented to attract more talent, is rewarding token creators with market liquidity using a portion of the 30k BTC ico funds. You are losing market position quickly right now to emerging competition. To be fair, Nifty is owned by Winklevoss billionaires and they have connections to get celebrity influencers. Waves can get an assistant dev to start handpicking artists here and offer some good deal if they launch on waves. There are many talented artists from around the world desperate to get into Nifty but Nifty is selective. It is an opportunity to capture this talent early: https://discord.com/channels/521080105548906528/525069448215003157But you must incentivize them and engage with them to be successful and retain them. They have many followers that will adopt waves.
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unheiliger
Newbie
Offline
Activity: 22
Merit: 2
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March 08, 2021, 09:26:04 AM |
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Did waves.exchange wallet make a change again in the layout/how you log in?
I haven't logged into my waves.exchange account in a long time. When i used to log in, i had to type in my password when accessing the waves.exchange wallet. Back then i used waves lite wallet and the waves wallet and then it was the waves.exchange.
Right now, i see option is log in by
Email ledger software - log in via seed, private key or keystore file (not recommended)
Since i never connected my waves wallet with my nano ledger s, i assume i can't do that now. So i have to use either email or software right? And software is my seed? Which would you recommend?
Also, why does waves keep changing all these things? Back then the waves lite was with the google chrome store... then it changed to Waves New Dex.... then the waves.exchange.
So what do you recommend to log in with it? Email or seed? I previously had to type in my seed a while back when i used the waves new dex and then the waves.exchange so i assume do that? But that mean everytime after this, i need to type my waves seed every single time? So there is no more accessing waves account by password? I don't understand this.
Waves.support, can you answer this? Right now when i open the waves exchange program, it give me three options either
Email Ledger Software
When I click on email, it ask me to create an account. So i type in an email and password. But once i do that, i would have to confirm the link in the email? But once i do that and log in with my password, would i have access to my waves exchange account? Or i still need to type in my waves seed? Again i have my waves seed with me.
Or do i just click on software instead? I don't have the waves installed on my nano ledger s. But this is the same waves exchange program i been using on my computer ever since i downloaded it a while back when i had to use it after waves new dex no longer worked.
I did recall when the waves lite client no longer worked... i had to use the waves new dex and enter my waves seed to get into my account. Then put in a password to log in each time.
But once the waves new dex was no more and we had to use the waves exchange, i had to type in my waves password again to access it. Then put in a password to log in each time.
So which of these three methods do i choose? If i type in my seed, does that mean i need to type my seed every single time to access my waves wallet? If so, i dont like that. I would prefer to be typing a password each time. But why does it ask to create an email to connect my account? With waves lite client and waves new dew and waves exchange before this change, it never ask to link an email.
Can you or anyone else explain this? Haven't logged into my waves exchange wallet in a long time since i saw this new log in.To answer that. I do not know about the ledger option, so I can not tell you anything about it. 1. Using the Email Login means you have to register your seed with an email. You will than have to use that password to login. The advantage is, that you can now also choose to use 2factor authentification. 2. Software-login. This is the old setting and should directly work for you with your old password. Disadvantages is that there in no 2factor authentification.
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Waves.support
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March 09, 2021, 09:40:02 AM |
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Pool APYs on Swop.fi now reach 124%, making the community wonder where such high numbers are coming from. Watch this short video to understand how the APYs are calculated. Read a text version of this video on Swop.fi's blog.
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Marquise$Museum
Jr. Member
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Activity: 90
Merit: 1
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March 09, 2021, 06:47:46 PM Last edit: March 09, 2021, 08:42:42 PM by Marquise$Museum |
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The video of Swop APY itself explains that only a fraction, less than 1% is from real revenue such as fees, pooled into total APY.
The remainder of this xxx% yield is from staking and farming rewards.
Real APY backing is less than 1% and you can see exactly how much in the video based on collected fees, it's below $25 000 for the total Swop pool.
I would advice to dramatically decrease APY to less than 10% maybe same as waves 6% because this APY is not backed by anything.
I don't think Waves is using funds from deposits to pay investors, I don't see it as Ponzi.
It is simply hyperinflating supply which is what Masternodes did in 2018 and 1 year after every masternode was -99%.
So what happends here is extreme dilution if you invest your money into USDN, Swop etc.
In the stock world, this is usually from excessive company emissions to raise new money, they take a 10 million shares and pump another 5 million into market by selling it to investors to raise development funds. This drastically dilutes the market and makes every share less valuable which causes downwards pressure on price.
But stock market never had anything near xxx% annual dilution, which is also why Masternodes imploded in such short time and so dramatically -99%.
So the take away is that you are buying toxic assets here, anything over 5-10% APY is toxic because it is unbacked and will dilute your investment to zero by hyperinflating supply.
I don't understand the logic with this creation how did waves expect to catch up to such extreme APY and back it with something real such as fees or other revenue sources?
This was impossible for the past thousands of years of finance, it did not suddenly become a reality this year.
It is actually a Pyramid, not ponzi.
Value investors should absolutely take a look at NFTs and follow investment in NFTs which are consistently selling such as Beeple. This is a very hard investment category and art collecting in a new frontier is even harder than normal art collecting. But atleast there is some material backing to the ROI. Early NFTs from 2017 will probably go up alot in value similar to Surrealism, pop art, Beat, Cubism movements.
Waves is very lucky, because there is one 2017 NFT token on waves. All others are from Ethereum and they are valued in the hundreds of millions at this point.
I guess waves created this high APY to get new users which is a good cause but this methodology will backfire because the foundation is from DeFi hyperinflation, if we suppose it is not straight up ponzi.
DeFi can be launched as lending contracts instead of hyperinflating contracts.
It is very easy to create lending on waves with 20-30% APY.
Simply lock USDN on user 1 wallet and collateralize his waves at 70-80% LTV.
This borrowed USDN can be transferred or there can be a rule that it can only be used inside waves exchange.
As long as monthly fee is paid, the contract cannot be liquidated.
This is much better way to grow userbase, waves price will go over $100 if you launch this.
TurtleNetwork already have this Dapp on Polarity but it is experimental 1 week loan at 50-70% LTV.
Very promising.
Waves loans should be without time limit if user chooses this option, only repayment of interest per monthly, with zero principal.
The key is to lock interest in USDN, not waves. OR, lock repayment in waves based on when the loan was issued, so if waves price goes up, the user only pays USDN equivalent to original amount. This means, if user takes $10 000 loan when waves $10, he will repay 1,3 waves every month with 0.3 as interest, or simply 0.3 instead of 1.3 if this is loan without time limit which the Swedish housing market had before 2016, interest only mortgage because home values only went up. So, when waves increase to $100, the interest repayment goes from 0.3 waves per month to 0.03, and this way it is dynamic price correlation because repayment is based on orignal USDN value of loan.
Another option will be to repay loan instantly using waves collateral if waves price goes up.
This is true DeFi, banking for the unbanked.
I would advice, $20 000 credit per wallet, with $350 interest per month, this is 20% APY. But it is real APY, not fake like Swop.
In order to take this loan, user must own $30 000 in waves. But more importantly, do not liquidate lending contracts if waves price goes down, simply bundle price loss into monthly repayment, maybe by increasing it a little bit like $50-$100 to cover short term volatility.
But you can also issue blanco loans without waves collateral. This USDN blanco loan should only be used inside waves exchange and only to buy waves or waves tokens or other waves related products and cannot be withdrawn from wallet. Blanco loan interest can be 30% APY instead of 20%.
Blanco USDN should be issued separately as USDN-B because its junk bonds with high default rate. Tokens traded against USDN-B will inherit debtor status but the monthly interest is still paid by original loan taker. When USDN-B is collateralized by monthly repayments, a share of supply can be converted into USDN and traded freely.
The reward for selling tokens for USDN-B is that this pairing will be pumped because of blanco lenders. So the dollar reward for token sellers is much higher, but risk of default is also higher.
If someone buys Tokens using USDN-B, those tokens go into blanco pool and cannot be touched until the loan is collateralized by monthly repayments. it can then be withdrawn according to level of USDN-B collateralization per account.
For example:
user 1 takes $20k USDN-B blanco with $500 USDN repayment interest
He buys token 2 for $1 using this USDN-B whereas in USDN market token 2 is trading at 20 cents
After exchange seller of token 2/USDN-B is locked in wallet and waiting for user 1 to repay, he can then withdraw or convert equivalent to what is paid in USDN every month, $500.
User 1 who bought token 2, cannot immediately resell token 2 in USDN market for 20 cents, he must wait until USDN-B loan is repaid with $500, and can then withdraw $500 worth of Token 2.
It is win/win/win for waves/investor/project creator
waves gets users, investor gets financing to invest in tokens they believe in, token creator gets more paid. The risk is carried by investor.
There are many small retail investors with $100-$1000, what will happen if they can access $20 000? Default? possible, market pump? definately.
But default in this case is harmless, because if borrower does not pay after month 1 deadline, tokens from the pool go back to seller and USDN-B is burned. The wallet which defaults, should be placed on cooldown before permitted new loan.
This system maybe is not perfect, but it is more realistic than swop for yield farmers.
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Waves.support
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March 10, 2021, 10:17:27 AM |
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We've made it to the spring, and it's time to see where we stand! The February issue of our monthly digest focuses on DeFi tools in the Waves ecosystem and features our recent achievements and updates.
Read the digest.
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