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MatrixGPT - Multiple AI application including
Unlike yesterday’s post, stablecoins still offer surprisingly good yields
In your opinion, which stablecoin feels safer during this market?
$MOR: Launching on Fantom on Feb 23: MOR by Growth De-Fi will be the only protocol on Fantom that offers both borrowing/leveraged yield farming with 0% interest loans and no penalties to open or close vaults. GRO holders also get MOR revenue. MOR is currently on AVAX and BSC.
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I find the tokens RAI (control theory based Stablecoin, non pegged), MAI (baked by Multiple crypto assets, CDPs) and Reserve Protocol (tokenize diverse multi-asset baking just like wealthy people store their value, early phase).
Hey there, it’s me from the future! USDC is currently trading at .88, Dai at .90, FRAX .89, LUSD .94, USDP .97, USDD .93, MIM .88, sUSD .96 & MAI .91 It’s not fine. The largest stables have all depegged except Tether.
Over collateralized, unable to be frozen by centralized figures, and high liquidity cross chain. so MIM, MAI, SUSD, LUSD
I'm interested in [RAI](https://medium.com/intotheblock/rai-a-free-floating-stablecoin-that-actually-works-d9efbbca94c0) or potentially MAI if qidao stops holding so much centralized WBTC as collateral
Commenting again because of links > honestly I think it’s barbaric and regressive with a high risk of turning into authoritarianism 🤣🤣🤣🤣🤣🤣🤣🤣 Your brainwashers love to divide and conquer and you’re more than willing to oblige!!! I can already see how you’ve been programmed just as your accuse me of. All I was asking is for him to stop associating his best in class protocol with one of the most horrible people in today’s society...yet I am in the “woke left” for suggesting that and I am authoritarian? Listen to yourself. #You do realize that I am not engaging in authoritarian control, right? I was merely speaking my opinion. #The alt-right’s classic play is to accuse their enemy of that which [they engage in. Here’s a great quote (I have a screenshot too) of what the alt-right wants: > “Victory isn't really hard to define at all All woke institutions - e.g. every university, most of the private mass media, all the executive departments - are shut down, the buildings demolished, and the land sold and turned into condos and parking lots, the institutions to be replaced with new institutions built from scratch. All complicit staff from the old institutions are banned from working in those areas ever again. **The leaders at the top go up against a wall** The new regime takes such a hardline stance against the woke that normal people view liberals and woke ideology the same way that, say, Nazis and Fascism became viewed following the World Wars Yeah, I think that would about do it” Your programming tells you that I am to be sloppily tossed aside into the the “**woke**” left. Just as Charles said, it’s a whole lot more “nuanced” than that. In fact, I personally hold the decidedly non-woke left opinion that being so strict (and yes authoritarian) about pronouns thing is kind of silly but not anything to get riled up about unless some demagogue is manipulating you into it....but yes...go off. #Where I have a HUGE problem with Jordan and Elon is where they have whole feeds of them accusing people who support young LGBTQ+ community members of being “groomers” for merely being **supportive** of someone’s right to choose their identity while also attempting to close hate speech loopholes to protect these marginalized groups of people. Mark my words, that will be the right wing’s talking point for the next 30 years...and you fell for it hook line and sinker probably because you were looking for somewhere to put your anger. FYI: I am also a white male but I have some critical thinking skills and **as an actual leftist and a person with integrity, I enthusiastically put the greater good ahead of myself**. You should try it. It’s what Jesus would have done. ;) Maybe it’s time to go “do some more crossfit” or “sucker punch some pussies” or “do some MMA training” and engage in toxic masculinity because “[might makes right](https://www.youtube.com/watch?v=6ypVbUBEZHg)”. PS. Do you ever ask yourself why he has to go so far down the evolutionary ladder to point to **LOBSTERS** to defend toxic masculinity and justify the disgusting, animalistic behavior of the use of physical intimidation to get one’s way? Surely, there’s some other species that is more closely related to us on the evolutionary timeline! Additionally, do you ever stop and wonder why Jordan only seems to defend bigots and hateful people? Surely, the laws of probability dictate that he’d have to be on the side of a non-toxic, good person from time to time if he were just choosing based on the marginalization of a group. Nah. It must just be a coincidence that he talks about [Hitler](https://www.youtube.com/watch?v=8g1oQ27GRKs) almost as much as David Duke! Also, he probably has passed some of his crib notes to help you learn history, having you ignorantly believe that the Nazi party were “radical socialists”. I have to break it to you, brother: It is an irrefutable fact that they were actually **fascist** and were in reality, about as “socialist” as the Democratic People’s Republic of North Korea is a “Democratic”. I have done hours and hours and hours of research so that I have a solid ground to stand on when arguing with his cult. In [fact](https://np.reddit.com/r/JordanPeterson/comments/118kepf/detransitioner_michelle_zacchigna_files_the_first/jah4rcn/), I [even engage](https://np.reddit.com/r/ImTheMainCharacter/comments/118cn3v/out_of_my_way_ive_got_billionaires_to_tax/j9h7fv8/) with his fanbois [regularly on his subreddit](https://np.reddit.com/r/JordanPeterson/comments/1120yr4/chatgpts_response_when_asked_to_write_something/j8jaike/) (if only to challenge the spread of his dangerous, bullshit, [anti-trans](https://np.reddit.com/r/JordanPeterson/comments/1120yr4/chatgpts_response_when_asked_to_write_something/j8i42kh/), [anti labor](https://np.reddit.com/r/EnoughMuskSpam/comments/zc36ft/apparently_advertisers_are_back_and_apple_fully/iyvjyyp/) ideology). Also, before you accuse me of being **woke left**, please read this blurb that points to the actual nuance of my beliefs: > I often find myself alienated as a result of calling out the wrong-doing of the Democratic National Committee and their anointed usurpers of today’s left-wing, such as Joe Biden, Nancy Pelosi, Kamala Harris, Hillary Clinton and Debbie Wasserman-Schultz. In expressing my grievances, I have found myself mistaken for a Trump supporter; such associations have left me feeling disillusioned and, in turn, I have opted to delete my Facebook account altogether. This tendency of neoliberalism to co-opt the left-wing is an issue concerning which too few are aware. > > The prospect of libertarian socialism appeals to me, being an idea I view as an extension of the original liberal values of the enlightenment period into our contemporary time. As such, I consider myself to be a libertarian socialist (or anarcho-syndicalist, or communist anarchist) after the line of Bakunin, Kropotkin and others. It’s their idea of a highly organized society that is centered around the workplace and neighborhood, from which delegates chosen from general assemblies can be carried out across the country and even around the world. On the matter of freedom of speech, I adhere to the position that one ought to not only defend it, but be devoted to defending it for views one morally rejects; in this regard, I am diametrically opposed to the initiative for the expanse of Stalinist/fascist standards. > > My criticisms primarily focus is on the co-option of the IMF and the World Bank by transnational corporations in order to enforce the Washington Consensus. Through the formation of institutions and agreements such as the WTO, GATT, NAFTA and MAI, the elites have sought to reap benefits while simultaneously undermining democracy. I observe this as a measure taken to limit poorer countries to a service role, providing cheap labor, raw materials and investment opportunities for the developed world. It is my belief that with the automated production of certain jobs and the sharing of others, society would benefit greatly with citizens feeling a sense of purpose and fulfillment during their productive life. > > In my view, Marxism is a complicated matter, teeming with both authoritarian and libertarian strains. Thus, I often refer to myself as an anarchist with radical Marxist leanings. I emphasize the anarchist notion of challenging all illegitimate forms of authority in an attempt to make each citizen “a direct participator in the government of affairs”, and anarchist thought as the means to nurture a libertarian and creative character of the human being. > > My interests lie mainly in opposed to the authoritarian behaviors of the corporatist takeover of the left wing. Though I appreciate that some of the distinctively honest conservatives (like Charles Hoskinson) can have persuasive arguments, in the long run it boils down to who you value more: the greater good or yourself. I see the difference between conservatives and leftists as such: the former value themselves at the cost of all others, while the latter value the greater good at the cost of themselves. Though I have considered entering debates with such conservatives, I often find that I am merely alienated and ensconced in an echo chamber as a result. Nonetheless, I will not stray too far away and remain active in conversations with those on the right in order to bridge the gap between both sides and reach a better understanding.
DAI is mostly backed by centralized USDC. sad. and MAI is mostly backed by centralized WBTC. double sad. that leaves RAI, which is backed by ETH. it's less stable than either, not pegged to the dollar, and slowly leaks out value over time.
If this affects you: Balancer listed the pools that need to be withdrawn to include DOLA / bb-a-USD on Ethereum, It's MAI life and Smells Like Spartan Spirit on Optimism, and Tenacious Dollar on Fantom.
mimatic (MAI) is a multi network over collaterized stable coin which is pretty good. https://www.mai.finance/
>The main issue is that DeFi is mostly disconnected from the real world. You trade crypto for crypto, lend crypto by colleterizing with crypto, etc. You do not leave the crypto bubble. This is true, but also consider this: You land on DeFi because you're escaping the FIAT bubble. The endgame would be a 100% decentralized on/off ramping protocol that doesn't collect KYC nor relies upon other centralized institutions such as banks. Sort of what we already do with gift cards but in a much more serious and user-catered way. and even that derives its value from USDC majorly, I'd like to see that reliance on centralized entities to maintain a peg diminish, which makes a case for alternatives like MAI which derives its value from over-collateralized assets within QI protocol's vaults. The endgame would be a 100% decentralized on/off ramping protocol that doesn't collect KYC nor relies upon other centralized institutions such as banks. Sort of what we already do with gift cards but on a much more serious and user catered way. I've certainly had 0 issues operating on DeFi and then bringing the value of those assets over and back from FIAT on my personal experience. >I also wouldn't compare Ethereum to Bitcoin regarding use cases. Neither would I, but I certainly see how bringing DeFi to the bitcoin network would be a pretty solid idea considering it gives a medium for the store of value to be used.
actually they do sound pretty stable to me. As much as USDT is attacked, it has held its peg even during a 6 billion dollar bank run earlier this year. Algorithmic stablecoins I agree with you and they only work while the algorithm works. MAI is an over collaterized stablecoin that is not backed by an algorithm and doesn't fall into these categories https://docs.mai.finance/stablecoin-economics#how-is-the-peg-maintained I wouldn't consider a coin that that has good foundations and a good use case a 'stable' coin. it may reach the previous point but losing 50% and taking 6 months to recover is in no way considered stable.
Yes you can store stablecoins on your own non custodial wallet There are even crypto backed over collaterized stables like MAI or DAI that can be used. You can also exchange with a DEX so you only really need the CEX for easy off ramp as some wallets you can buy directly with fiat
But what if, and hear me out, you don't buy permissioned stablecoins and instead bought fully decentralized ones such as DAI, FRAX or MAI?
there are risks involved, but why not borrow against it for what you need? You can then pay back the debt when you can This won't work if you need exactly the amount have I can borrow MAI against WETH on polygon for only 0.5% fee on payback
Have a look at QiDAO they are ~10M in market cap but their current TVL is roughly 65M. Its like a DAO that’s cross chain and allows you to mint a fully decentralised over collateralised stable coin called MAI. What makes them unique is that they are spread out across 16 chains, the vaults are isolated meaning every person has their own leverage and liquidation thresholds. The mint is at a flat 0.5% fee and no interest and since they don’t mint against any stable coin they aren’t censorable in any way. Its heavily undervalued right now and should sit somewhere around the market cap of balancer etc.
Pure internalized algorithmic stables are scams or stupidity. They work until they don't work anymore, and none of them are resistant to the event when all the internal tokens involved depreciate simultaenously. Stables like future GHO, and current MAI, which are minted when you borrow money against an overcollateralized vault, with hard caps on max weights on borrowable stable are the only realistic alternative to fully backed, fully centralized stables like USDC.
MAI is managed by qidao and it does not accept USDC as collateral. unfortunately it accepts WBTC which is centralized wrapped bitcoin.
Yea Mai Finance might actually be more helpful for you here - you actually get paid to borrow stables (MAI) from your vault collateral. It works on Ve-voting tokenomics. This way you could actually repay your interest using the rewards, and pay no lending fees. Theres just a 0.5% fee when you repay your stablecoin loan. I’ve used it for a year now on Polygon with no issues, it’s multi-chain though so options are there
Mai.finance lets you mint a MAI stablecoin using your wbtc as collateral.
Would this not have a knock on effect to MAI if DAI de pegged (though highly unlikely). Backing things with a stable backed up by a mix of assets doesn’t seem very smart.
My point is, comparing UST (build on ponzinomics) with MAI (build on DAI) is not right
MAI is not like UST, MAI is over collateralized so it can never loose peg like UST. OP needs to do the research before claiming something.
It's possible that celsius is getting bailed out from Goldman Sachs then using those funds to unwind it's other positions then selling those unlocked funds to unwind others. Then, whatever is left over, Goldman will buy and take over the platform. I think people might trust Celsius more if it was overtly backed by Goldman or was an official Goldman platform but using centralized lending platforms is always high risk. I much prefer decentralized platforms like MAXX finance and MAI- Qi DAO.
LUNA / UST seemed like a an obvious ponzi to me, I'm not sure how do many people invested in it. A stable coin backed by... Their governance token?? That's s no from me. There are some actually cool projects like FRAX, MAI and RAI that are actually innovative and cosñterkzed - in the case of RAI it is backed only by ETH and is not legged to the dollar, but made to be a decentralized stablecoin that does not need to rely on a third party holding cash in a bank.
You add the harmony one chain to your metamask then connect your wallet to viperswap, it seems they have low liquidity on $500 theres already a 10% price impact for your token. But it says it will give you that for 444 MAI. Might still be some other issue but you can try
USDC is the best cash backed. DAI and MAI have low market risk but have smart contract risk
It's never a good time to come back, it's a GREAT TIME. 
Never loan your Btc. But you can tokenize it, lock in mai.finance, mint MAI and farm stablecoins. Use revenue to buy more btc.
There's a nice ecosystem on polygon, mostly compatible ethereum apps but with severely reduced gas fees, +- 2 cents per trasanction when reduced load. Nice DEXes like Quickswap, Uniswap, cool projects like QIdao and their asset backed MAI, AAVE of course, Impermax for leveraged yield farming, all in all they host a nice suite of tools to operate if you don't seek high leverage but would like the flexibility.
it looks more similar to a CBDC than other stablecoins like DAI and MAI just because of the freezing function. circle can freeze the USDC in any address as per the smart contract code, and the government can also compel them to do this.
Look at DAI/MAI - 1st you build stable on high cap coin or mix of them. Those stables have less risk because they are using more collateral than they take. In Luna you had 1:1 in dollar terms value. In DAI/MAI you can take stable for 0% to 75% value of you asset if value drop they sell your collateral. Size of those stables is 1/1000 of m. cap assets involved. If asset used as corateral have same market cap or less than market cap of stable it easy breaks like Luna. Luna/UST was was ponzi with 20% APR from start. Like any pozni it works till new money comes in when it not com it collapse.
My current favorite play is staking Bifi with beefy finance, then taking the LP token to stake in Qi Dao (gaining rewards), then borrow MAI against and then stake MAI in the MAI USDC pool back on beefy. I don’t even know how much I’m making in APY but probably in the neighborhood of 30+. If any of the above confuse you, get to learning! DeFi is the future.
> you mean usdt? yes, and others like it. (USDC, BUSD, UST, DAI, MAI...)
I really dislike how the foundation structured Maiar Exchange. The one year lock is absurd a doesn't work when the MAI token is so inflative. Why should I lock one year for 100% APY when I can get it elsewhere without locks? They should have gone the Osmosis way, with a flexible unbonding period up to 14 days rather than a 1 year lock. When you fail so hard on your flagship service, it's hard to recover. Terra for example is successful because they nailed Anchor Protocol, Elrond for now is just another high performance chain as many other ones.
Especially if you consider that the pair is TOMB - MAI. The projects are high risk but they have been around for quite some time
Why would you hold usdt? I get using it for trading because of the volume, but for holding? You have DAI, MAI, MIM, UST, there's many great decentralized stablecoins for you to hold.
I feel like the future lies in algorithmic stablecoins like DAI or MAI. You don't have custodial risk there, instead you get the risk of smart contracts being buggy and failing. Pick your poison I guess. A way to limit risk could be to take on some debt in the asset you wanna insure, say USDT debt. That way if the value falls, your debt falls too. You gotta run the numbers tho, the borrowing fee could eat into your profit too much.
Is MAI fairly safe? Polymatic’s stablecoin
Defi has MAI MIM UST FRAX DAI and much more. I think it'll be fine lol
You need to go to pairs with a smaller stablecoins (e.g. MIM, MAI or UST) and networks other than BSC.
She seems particularly concerned about a bank run on Tether. I think given a mass bankrun, just about any centralized stablecoin could fail if everyone wants to cash out at once. What about some of the crypto backed, overcollateralized decentralized stablecoins? DAI, MAI, MIM etc? It seems like these would handle a bank run better since the reserves actually hold crypto assets in a treasury. She is not totally off base with her concerns. I also wonder how algo stablecoin behave in a similar bank run scenario. My smooth brain can can conceptually understand crypto backed stables the most, but time will tell how these different coins fare in extreme market conditions.
Here's an example, I have for my ETH staked and earning interest in AAVE, which I can leverage and borrow MAI at 0% interest rate, and provide liquidity to stablecoins and farm.
MIM and MAI are interesting ones to add to this list.
Aave is the most secure protocol. There is also MAI, but I AAVE is a bluechip
There's stablecoin liquidity swaps for around 30% apr, there's one for DAI/MAI on beefy finance in polygon Network that's pretty good, it's not a bad idea, stablecoin farming was my plan for the bear market, but real inflation is around those numbers already so I say fuck it.
Almost every other stablecoin is better. Take your pick of USDC, BUSD, TUSD, UST, DAI, MAI, MIM…
Algorithmic stablecoin smart contracts lend new new tokens in exchange for other assets like Eth as collateral. The new tokens must be over collateralized. If the value of the collateral falls too much, it is liquidated and used to buy back the stablecoins on the open market. These smart contracts basically market manipulate the stablecoin to be the desired price. In this case the manipulation is expected, desired, and good. Since the contract has control over supply, it makes sure there is never too much stablecoin such that it can't manipulate the price anymore based on how much collateral the contract owns. Currently the stablecoins DAI, MAI, and MIM are all pegged to the value of the US dollar, but they aren't backed by US dollars, just other cryptocurrencies. The person who provides collateral for minting new stablecoins is essentially shorting the stablecoin. So you can't track an index that no one is willing to short. I could design a smart contract that produces a magic currency which doubles in value each month, but this would lead to no one willing to mint such a currency with their collateral, and if they did, their collateral would soon be liquidated anyway.
I like miMATIC ($MAI) here, who doesn't like to borrow with 0% inerest lll
I'm in the same situation, and it's a great one to be in! Started with a substantial but "willing to lose it" sum. Now it's too big to lose. My tactic has been to gradually DCA some of it to stablecoins. Once a week I just bite the bullet and withdraw a few percent whether the market is up or not. My sorta-safe havens are: Mojitoswap on the KCC network (Kucoin Community Chain) offers around 30% APR on USDT-USDC farming. That APR probably won't last but it's been fairly steady for now. Beefy on Polygon autocompounds for around 20% APY on MAI-USDC and rUSD-USDC.
There are a lot of stablecoins that can replace USDT, such as: USDC, DAI, MAI, MIM, PAX, UST, etc...
Do you know any other algorithmic Stablecoin worth mentioning ? (Besides DAI) I saw "MAI" that seems to be a Stablecoin + a lending protocol but it doesn't seem used that much
Shit, my phone carrier is Tuenti. NOW MAI .000000000000001 BTC AREIN DEINGER!
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a bad defi experience is not having money market to loan out your assets and borrows stablecoins , all the other platforms have something that allows for that whether its aave,benqi or geist. Solana just doesn't have it. The yields on stablecoins are also much lower than competitors. USDC-MAI which is on almost all of the platforms is more than 50% less than on solana. I own solana actually have more of it than i do fantom , but to me I am just going to hold and stake it for now as ecosystem isn't ready for defi for my use case.
I tend to allocate by 2 factors: 1. Risk-reward. The older and more established (bigger network effect) a coin is, the safer it should be in terms of survival. On the other hand, the potential to go up in price should be lower, too. For these reasons I allocate a bigger % in the safer bets. 2. Categories I sort coins / tokens into categories such as "Monerary asset" / "Cash competitor" / "Smart Contract chain" / "Lending platform" / "Stablecoin DAO" and try to allocate a % to each category. That means say I wanna put 5 % of my portfolio in Stablecoin DAOs, and so far I have it all in Maker DAO, but now I decide I wanna give QiDAO (MAI stablecoin in Polygon sidechain) a shot, I will split the 5% allocation between Maker and Qi in some way, so the category % doesn't change.