Quote from: btcltcdigger on March 14, 2020, 06:29:42 AM

Quote from: SiverSurfer on March 14, 2020, 06:28:00 AM

Quote from: btcltcdigger on March 13, 2020, 09:50:03 PM

Quote from: SiverSurfer on March 13, 2020, 08:29:52 PM

Quote from: ATSgrowth on March 12, 2020, 07:33:14 PM

Wait for the market stabilization because if you lend now, you can easily lost your cryptocurrencies because the value of your crypto collateral become insufficient. The best time for a loan is at the beggining of the new growth cycle.

Hi, I am aware of the volatility today but what does that have to do with compound.finance? I thought in this scheme I just store my DAI with them and get the unlocked interest rates ? Or am I missing something ? Thanks.

Not missing anything. The system works on a principle where you have to deposit more than you can borrow.
I've depposited some DAI and am getting daily interest. Atm due to market, interest is around 20%/y, but it's usually 8%

Thanks.

Which means that to borrow I have to over collaterize, and to save I just need to put my DAI in it and get the current 20+% ?

Yea, exactly.
I'm not sure its 20% anymore as it fluctuates, but that's the idea of it

I am fine with fluctuation, its ok to go sub 20%. I am just impressed (perplexed) that they can do 20% when Celsius and blockfi and likes can only do 8%. I dont want to call it a get rich quick scheme (scam) as there is some smart contract element but I have some doubts as to whether are people willing to borrow my savings for over 20% interest rates on the other side of the table.