Defi Pool staking
- Thread starter Cuddles
- Start date
Defi is a catch all term, but to answer your important question, you don't need to run a node, but you need a local wallet (i.e. metamask holding crypto assets) to interact with a defi smart contract platform
For example, if you want to connect to AAVE defi banking for depositing crypto assets and earning yield or if you want to deposit crypto asset as collateral and borrow a different type of crypto asset to your local wallet
well, I mean DeFi as in no centralized staking pool, but one that exists on the network independent of some entity. I've got metamask and a ledger, plus a few wallets on my phone. Basically what I'm not so sure about is if the assets are controlled by the pool or not? The next question is which are the better options out there?
I'm skimming thru this one but don't quite get the reward system differences.
https://academy.shrimpy.io/post/the-best-ethereum-2-0-staking-pools
I think we're having miscommunication, defi is decentralized finance, the AAVE or any of the defi platforms like Compound, Uniswap, these are all decentralized apps on Ethereum blockchain, what you see as far as the website is only the front end to make it easy for people to interact with the smart contract on the Ethereum blockchain
Ethereum 2.0 staking is a native staking on the blockchain, but you're limited to what the protcol parameters are, I don't know the details, but something like 32 Ethereum, and locked until Eth 2.0 is released. The way around this is if you sign up with services to allow you to get away from the restrictions, and even mint other tokens, using your Eth as collateral, but I'm not an expert so dyor
K
krugman25
You probably want to go with Lido (https://lido.fi/). You stake your ETH and receive a token back called stETH that represents your stake. Lido is trying to integrate stETH throughout defi so it starts to become as popular as ETH itself. There's a good chance it does since it's basically ETH with a built in yield.
You also don't need to stake it if you don't want. You can just swap your ETH for stETH on Curve (https://curve.fi/steth) to purchase the token which you can hold and eventually sell back like any token, skipping all of the staking contract interactions. The ETH/stETH pool has $400,000,000 in it right now so plenty liquid for just about any size trade.
More on stETH https://blog.lido.fi/steth-defi-usecases/
You also don't need to stake it if you don't want. You can just swap your ETH for stETH on Curve (https://curve.fi/steth) to purchase the token which you can hold and eventually sell back like any token, skipping all of the staking contract interactions. The ETH/stETH pool has $400,000,000 in it right now so plenty liquid for just about any size trade.
More on stETH https://blog.lido.fi/steth-defi-usecases/
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I guess I'm not talking about yield from loaning but staking to secure the network. ETH 2.0 beta staking was rolled out last month but node staking is pricy which is why I'm considering pool staking if safe.
I’d rather not suggest you take the risk right now. You can probably look for a local wallet so that you get to interact with the defi platform which is a decentralised platform in itself. You can most probably use your ETH as a collateral at this point.
MATIC IS THE NEXT BIG THING.
Look at the fucking chart str8 fucking moon.
0.000062$ fees, 2second blocks, built on top of ethereum. You can bridge your ETH and erc tokens to MAtic and you can also use external bridges to transfer your USDC,DAI,USDT from BSC to Matic directly.
All roads don't lead to Rome, they lead to Matic.
Matic is what crypto was supposed to be. Prove me wrong.
I am also building my own defi project on there right now as we speak. Probably better said, a dev is building it for myself
How much do ETH swaps cost right now? 200$ in fees? Get the f# outtaher! M A T I C
Look at the fucking chart str8 fucking moon.
0.000062$ fees, 2second blocks, built on top of ethereum. You can bridge your ETH and erc tokens to MAtic and you can also use external bridges to transfer your USDC,DAI,USDT from BSC to Matic directly.
All roads don't lead to Rome, they lead to Matic.
Matic is what crypto was supposed to be. Prove me wrong.
I am also building my own defi project on there right now as we speak. Probably better said, a dev is building it for myself
How much do ETH swaps cost right now? 200$ in fees? Get the f# outtaher! M A T I C