DAI

MaxSmart1981

What? DAI is great. Maker's definitely not the devil :)

coinfeeds-bot

tldr; MakerDAO, the decentralized autonomous organization behind stablecoin DAI, has approved the purchase of up to an additional $1.28 billion in US government bonds via crypto asset manager BlockTower Capital. The move is part of Maker's plan to diversify reserve assets backing its $5 billion stablecoin DAI and boost protocol revenues by investing in yield-generating strategies. The latest decision also highlights the growing demand for traditional financial instruments among crypto native entities such as DAOs as a means to earn a stable yield on their treasury. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

soyelvorph

I'm in Mexico, here you can buy: BTC ETH BUSD USDT BNB DAI DOGE ADA MATIC XRP Not sure if it varies from country to country

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

snowfox2012

Have you used multichain in the last few days? I’ve moved thousands in wBTC, ETH, USDC and DAI between Fantom, Optimism, Polygon and Arbitrum. Not a single tx had issues. The fact that some 3rd tier chains had their bridges disabled doesn’t mean Fantom is done for

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

coinfeeds-bot

tldr; The market share of stablecoins pegged to the US dollar has shifted over the past year, with Tether (USDT) increasing its dominance to 65.89% and Circle's USD Coin (USDC) declining to 23.05%. Binance USD (BUSD) and Dai (DAI) also saw decreases in market participation. The US banking crisis led to USDC depegging in March, causing its market cap to drop to $29bn from its $55bn peak. Tether has been criticized for lacking transparency, but its latest audit report shows it has reduced counterparty risk by pulling over $4.5bn out of banks and increasing its US Treasury bills to over $53bn. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Dull-Soup-2640

I had a friend that did the same thing with DAI last bull run lol

CanWeTalkEth

The problem is certainly not *paying* taxes like that. And you’re just buying stocks at that point. But if you were actually using DeFi or taking a loan that involves a token or transacting with an NFT, you need to calculate the gain/loss and keep that around for your end of year tax bill in the USA. If it was as simple as only paying taxes when you convert back to fiat, a lot more people would do that im sure. But the issues with that, too, are obvious I think. That is just creating a parallel tax free system. It’d be huge for adoption if I could pay the food cart vendor or my house cleaner in DAI and none of us had to worry about taxes. But we do.

ETHBTCVET

Ethereum with their pathetic dozen of different chains is bound to fail, imagine have multiple wallets and figuring out on which chain what you have, here some nft on polygon, here some DAI on Arbitrum, here some eth on zk, what a clusterfuck.

WeifsKexneinaes

DAI still has a significant amount of centralization within its frameworks being largely backed by USDC, although there have been constant efforts recently to reduced this backing to the barest minimum. I have a huge amount of DAI which I’m leveraging for yields on SpoolFi and Beefy and I’m hoping that some day in the near future, it will become fully decentralized; nothing would give me greater joy.

gamma55

DAI is just a wrapped on USDC right now, so the ”de” in defi isn’t all that decentralized.

pbjclimbing

Since DAI is not fiat backed, they have less earning potential from the backing. Now, they do have agreements with Circle and such that they get a decent pass through rate of the USDC that they hold. Tether and Circle are making a shit ton of cash. So much cash that it would be stupid to not be 100% backed.

coinfeeds-bot

tldr; Decentralized finance (DeFi) protocol MakerDAO increased its DAI savings rate (DSR) to 1% in December 2022. The move led to over 35 million DAI being deposited within a month, as per MakerDAO. Now, a new proposal to increase the DSR to 3.33% is under discussion. The proposal was put forth by risk management firm Block Analitica […] The post MakerDAO looks to increase DAI savings rate by 233% to 3.3% appeared first on CryptoSlate. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

AshamedFlame

When I first started out, I bought DAI because I saw it was exactly $1. Cool a round number!

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

JeffreyDollarz

This is not true for DAI, correct?

Matth3w_95

I think the crypto space needs a truly decentralized stablecoin. DAI is a good attempt, but is heavily backed by the centralized USDC, which doesn't make much sense to me.

Beyonderr

He got so many tastes of his own medicine: * He [theatened to kill the stablecoin DAI](https://preview.redd.it/g77qv6zwitza1.png?width=600&format=png&auto=webp&v=enabled&s=3eb993bd7ed0b6584508d2a63ec77ad3d526b1fe) and then his own UST died * [He always hated on the poor](https://preview.redd.it/w0e914ztgtza1.png?width=603&format=png&auto=webp&v=enabled&s=bfea113193d46f0abc352b2e6aa4c43d2d54a0d1) and then turned poor * He always [mocked people for "their size"](https://preview.redd.it/9brl3wiqgtza1.png?width=567&format=png&auto=webp&v=enabled&s=7ef3d577636fa1447bb3abbd56dbec8ccaba9a86) and then became hated and small.

Dull_Tough_7149

Tldr:Santiment data shows that crypto whales and sharks have increased their share of stablecoins like USDC, DAI, and BUSD. These big players are holding 100k to 10 million tokens, which is worth $100k to $10m, and can move the market with their large transactions. The whales are the most important group as they hold the most tokens. They may have turned to stables to avoid Bitcoin volatility but could exchange them back for volatile coins when the time is right, creating buying pressure. The flatlining of their stablecoin supplies suggests they may have slowed down their exit from volatile coins, but if they start using their stables to buy BTC, it could be bullish.

AwkwardHamburge

>The initiative also includes the introduction of upgraded versions and new names for its DAI stablecoin and MKR governance token, **as well as a shift towards investing a larger portion of its reserves into real-world assets.** Sounds like a LFG move.

ETHBTCVET

Tell that to the shilled DAI and USDC coins here, you guys arent promoting any better alternatives.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

Traditional-Run-2586

If you're not trying to look shady, your best bet us Coinbase commerce. You can set up an account there and per their site: "We currently support ApeCoin, Bitcoin, Bitcoin Cash, DAI, Dogecoin, Ethereum, Litecoin, SHIBA INU, Tether and USD Coin. We also support MATIC, USD Coin, and Wrapped Ether (WETH) on Polygon"

Titanium_Eye

I'm excited to see the loss porn that will come out of this. It all started with 72 DAI and now the house is being repossessed.

Matth3w_95

I think that we need an actually decentralized stablecoin. DAI is a good try but it's still very dependent on USDC, which doesn't make much sense if you claim to be decentralized.

Matth3w_95

I appreciate that DAI is expanding its use cases in DeFi. I think that basing all DeFi on centralized stablecoins is kind of a paradox. Problem is that a big part of the funds backing DAI is USDC.

coinfeeds-bot

tldr; MakerDAO has announced the launch of Spark Protocol, a DeFi lending protocol focused on its own stablecoin, DAI. DAI is only soft-pegged to the US dollar. Spark Protocol allows users to take out loans on credit at an annual rate of 1.11%. Spark Protocol will be available to all DeFi users starting May 9, 2023. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Crypto.com has added Polygon (MATIC), USD Coin (USDC), and Dai (DAI) to Crypto.com Pay, a fiat-to-crypto on-ramp service enabling the purchase of cryptocurrency via credit or debit card. The exchange recently launched a virtual assistant built on the GPT API to assist customers. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

etj103007

Correction: USDR uses DAI as backing, and earns yield through real-estate (which I found quite interesting). Other yield-earning stablecoins include USD+ and CASH. Just make sure to do research on where the yield comes from and be aware of the fees in buying/selling them.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

coinfeeds-bot

tldr; The US Justice Department's crypto enforcement team is cracking down on DeFi hackers and exploiters, amid a four-year rise in illicit crypto activity. North Korean hackers stole an estimated $630 million to $1 billion of crypto assets in 2022. The biggest DeFi hack so far this year was reported on March 13 with over $196 million in DAI, USDC, staked Ether and Wrapped Bitcoin stolen. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

aasyed

My first ever hot wallet was Metamask and I use it to this day. It has come a long way in terms of functionality and design, and I dare say it get the balance between being feature-rich and user-friendly just right. Another wallet you may check out is Trust wallet. It's also really easy to use and in some ways, has a smoother learning curve than Metamask. About your second question, virtually ALL stablecoins have one thing or another about them that makes them risky. For USDT, it comes down to lack of transparency by Tether. Other stablecoins like BUSD, USDC, DAI, USDD, USDP, they all have their own set of evils. So yes, you're much better off keeping your hard earned money in fiat. You really have nothing to lose by selling USDT for USD or another fiat currency of your choice. As a beginner, you need to 100% prioritise the stability, safety, and preservation of your financial grounds. Once you have achieved a certain level of buffer, that's when risk-taking starts to make sense. Hope this helps.

Redac07

This is just misinformed shit. You could say the same about eth then because the utility is the same. Also ageUSD protocol > DAI for multiple reasons.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

WeifsKexneinaes

There are several smart vaults for USDC, USDT and DAI; each which their own APYs with the higher risk vaults having higher APYs and vice versa. I think you should have a proper look at the full list of vaults they've got; surely you'll find something worthwhile.

SilasX

For anyone who wants to make actionable use of this figure: there may be a scare like when the market thought USDC would default this March from the SVB collapse. If you were smart, you bought up USDC and DAI.

lofigamer2

same goes for DAI (backed by USDC) And USDT, they are all mostly backed by treasuries. I hope the USA will make the right choice and not default

3utt5lut

Because it ate all of BUSD/USDC's market share, when the SEC pushed insecurities about their networks! Terra-Luna was of similar size, but that money was stolen and robbed, while the withdrawls were locked and insanity broke out trying to recover losses. USDT would just blend into BUSD/USDC/DAI's market share, as they are still existing. It would still be undoubtedly hard and difficult for us, but unless, there was a critical failure similar to UST/LUNA, I don't think it will be nearly as bad because a new stablecoin like USDT2 could pop up overnight with similar non-credible "trust me bro" reserves to take its place!

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

nyceria

He delivers his points well, but he misses the forest for the trees to play to his audience. Do it again but instead of UST do DAI/LUSD, instead of Celsius do AAVE, and instead of FTX do Uniswap and see if it still works. Crypto didn't fail, people did. Crypto and DeFi did just fine.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

Hawke64

I'm surprised that whales are more confident in DAI(backed by USDC and some ETH) than USDC(backed by actual money in the bank account)

btnmoon

>The sales came after Vitalik Buterin, the co-founder of the Ethereum blockchain, and the Ethereum Foundation, sold coins worth roughly $30 million on Kraken, a U.S.-based centralized exchange a few hours earlier. >The panic may have set in when the first whale converted 9,950 ETH for 18.63 million DAI. Shortly after, another whale dumped 9,140 ETH for 17.07 million DAI. A lot by most peoples standards, but not in the grand scheme of things. Price dipped a little but confident it won’t stay down for long🤞

johnruben

**Crypto Forefront 9 May 2023 -** \- Sam Bankman-Fried asks judge to dismiss all criminal charges against him in FTX fraud case, citing not guilty. \- MakerDAO launches spark protocol, a new DeFi lending solution for DAI use. \- Coinbase is considering UAE as a potential crypto international hub, CEO says. \- Ripple's legal battle with the SEC might cost over $200 million. \- The US Securities and Exchange Commission is repordtedly close to taking enforcement action againt binance. \- Bittrex Exchanges Files for Bankruptcy After Regulatory Setback

FalloutAssasin

Key takeaways: * MakerDAO has introduced Spark, a DeFi lending protocol that enables users to borrow dai (DAI) stablecoin. * Spark is built on the Optimistic Rollup technology and is designed to increase the liquidity of DAI. * The protocol is expected to increase the adoption of DAI and reduce the cost of borrowing for users.

Extreme_Issue7325

Op makes it look like shorting stables is something common 😅 That has been the case a few times (last time was BUSD/DAI) but i dunno anyone can bet on such incidents as an invest strategy

zoomercoomer9000

So let's look at Tether's 1-month chart: https://i.imgur.com/KFFw0Wj.jpg Personally not a ~~gambler~~ leverage trader, but it looks like taking a short position would result in getting screwed about 50% of the time. Similar situation with DAI: https://i.imgur.com/DapZj7R.jpg USDC: https://i.imgur.com/y09yjrf.jpg

MinimalGravitas

No, sending any amount will cost the same, you're paying for the complexity of the transaction, not it's value. Sending ether from one wallet to another currently costs ~ $4. Sending ERC-20 tokens (e.g. USDC or DAI) costs ~ $12. Swapping tokens costs between $25 and $35, depending on which dApp you use. You can always check expected transaction prices at: https://etherscan.io/gastracker

diomediocre

So let's hit up some examples. WETH:MOONS should be about a 1:10k ratio right now if you add them to the Sushi pool based on their prices. This is because ETH is ~1900 USD and 1 MOON is 0.175 USD. So you'd need to put in at that ratio or make your own pool with a custom ratio like 1:1 (which will either get arbed or never used as its pricing is off and AMMs/DEXs try to get users the best price) There are exceptions with weighted pools which are probably best illustrated with Balancer. They use weighted pools and multiple assets so they can say the "weight" of an asset (its USD price times the amount of asset in the pool) should be a set percentage of the pool like 20% while the other assets would have a "weight" of 80%. This is generally used for pools with more than 2 assets, assets that are relatively stable to each other like DAI/USDC, or assets where they can sorta gauge that the majority of trades will be in one direction.

MichaelAischmann

The most interesting thing about this is that they chose DAI.

TR5_

2 whales panicked and dumped 19,090 $ETH ($35.7M) on Uniswap after the ETH Foundation dumped 15,000 ETH ($29.7M) to Kraken. - 0x6071 exchanged 9,950 $ETH for 18.63M $DAI at $1,873. - 0x7641 exchanged 9,140 $ETH for 17.07M $DAI at $1,867.

MayorAnthonyWeiner

*DAI has entered the chat* ..but in all seriously DAI is the only tried and tested stable to do this so far

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

bigshooTer39

Never heard of DEI either. DAI yes but not DEI

bigshooTer39

Did you mean DAI? Or is this a coin I could care less about ?

Apprehensive_Baker80

For a second read DAI and got a misplaced heart beat

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

Dwaas_Bjaas

Its not stupid. These loans typically automatically sell your assets *below* spot price to ensure that the loan is paid back in full in case Bitcoin drops in value too kuch. The loss is always on the one that lends This is exactly how MakerDAO and DAI operates: you deposited crypto and you mint DAI in return. If your crypto decreases in values too much, it will be sold

Fuglypump

Curve is probably one of the best entities to pull off making a stablecoin It looks similar to DAI, which means it is only being minted by over-collateralized loans

coinfeeds-bot

tldr; HydraDX is looking forward to Q2 2023 and beyond on how to deploy the remainder of the POL funds sourced from the LBP. Referendum #43 has now been passed following an active community discussion. The key list of actions for the diversification and deployment of the remaining liquidity are as follows: Buy 1,000,000 DAI worth of HDX. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_harmony) to find submissions for other topics.

CointestMod

#Harmony Con-Arguments Below is a Harmony con-argument written by noxtrifle. > Though Harmony ONE is touted as the 'next frontier of DeFi' by some, its future hinges uncomfortably on pipe dreams and euphemisms that fail to hide the token's true nature. These include: > > * **Recent $100m exploit sets precedent for future hacks -> highlights lack of security** > * Just less than a month ago, Harmony's Horizon Bridge suffered an attack to the extent that the perpetrator stole over $100 million worth of cryptocurrency including ETH, BNB, USDT, USDC, and DAI, among others. > * According to [a TechCrunch article](https://techcrunch.com/2022/06/24/harmony-blockchain-crypto-hack/), the security of the entire bridge relied on a single 'multisignature' wallet, which needed the consent of two signatures to initiate transactions. While this type of system is certainly more secure than single-signed wallets for the average, this is nowhere near as secure it should be for a protocol that controls billions of user funds on a daily basis. > * It is noted that about $2m worth of tokens were [returned by the Lossless protocol,](https://beincrypto.com/harmony-hack-how-lossless-saved-78m-stolen-tokens/) which may have a promising future. > * **Not Unique** > * Ziliqa exists as an alternative to Harmony, and does almost exactly what Harmony does - albeit on its own network. > * Since Ethereum itself is trying to solve the problems that Harmony identifies, it's only a matter of time before ONE is made obsolete. > * **'Next-gen' technology is a hindrance** > * Harmony's technology [hinges on 5G technology](https://learn.bybit.com/altcoins/harmony-crypto/) to work at full efficiency, which is not available in many parts of the world. > * Hence, accessibility is severely reduced. > * **Infinite Inflation** > * The token's supply is not capped, and it mints 441 million ONE each year. > * As a result, while stakers are rewarded generously, holders continually lose money as the price of ONE is pushed down by excess supply. ***** Would you like to learn more? Check out the [Cointest archive](/