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27472943 No.27472943 [Reply] [Original]

Has anyone tried earning interest on their LINK using Celsius or another lending platform? Any recommendations for best interest rates/security? Any info would be greatly appreciated.

>> No.27473484

>>27472943
>deposit link on aave
>borrow stables
>don't be too degenerate
>farm with stables or just straight up buy other shit with it

>> No.27473611

>>27472943
Honestly it's not worth it to risk everything for 5% or something, when you can get 1000% over the next 12 months by just keeping them secure

>> No.27473770

>>27472943
I looked into the options and decided to go with Bancor. Insurance from impermanent loss + good rewards in the form of undervalued BNT tokens. Using a centralized platform for crypto seems like entirely missing the point.

>> No.27474094

>>27473484
Lol. He doesn’t know about Bancor.

>> No.27474896

>>27473770
>>27474094

How long have you been holding there? What is the current APR? With Bancor its still your keys and basically a liquidity pool? I was interested awhile back about the IL insurance but saw you had to hold for 100 days. I was afraid I'd get rekt by IL in the meantime. Idk what the losses would have looked like but LINK did go from 10 to 23 currently in that time period before I would have had total protection.

>> No.27475038

>>27473770
Yes Bancor is the way.

>> No.27475107

Have looked into it but then decided to just hold my linkies safe. Not worth to worry over the small potential gains

>> No.27475474

>>27472943
I've got about 6k Linkies on Celsius, 40% of my stack or so. It's been alright so far, payments have always been at some time on a Monday although the time of day varies.
Only had one issue where I ordered the secure mode 'HODL mode' to deactivate and they reactivated it the next day for security issues, think because I used a different VPN location on my phone or something. I had to contact them to ask them to turn it off but they did so. The only real downside is that the platform is mobile only, I'd like it if it were desktop-based.

Here's a shill referral link, but you will get $20 worth of BTC when you transfer $200 or more to the platform.
12459111c3

>> No.27475921

>>27472943
I am afraid of the exange Celsius getting hacked

>> No.27476012

>>27474094
>He doesn’t know about Bancor
could you expand on this please?

>> No.27476017

Go back
Glow there frog normie

>> No.27476147

>>27473484
>>27473770
>>27474094
>>27474896
>>27475038

Aave and Bancor are the big brain moves right now. APY is absolutely insane in bancor but first post is also right with Aave. With both you hold custody and if you can hold it in bancor protocol for 100 days it pays for impermanent loss and you only need to deposit in one side of the pool.

>> No.27476680

>>27476147
Isn’t their little room for LINK deposits?

>> No.27476793

>>27476147
>Aave and Bancor are the big brain moves right now
but aave earning on Link is not good.. it's not 6%

>> No.27477093

>>27476680
Pools not always open no, you have to check it and wait for bnt to be deposited or someone else pulls their link. Gas isn't cheap but if you're depositing enough it's way worth it.

>> No.27477335

>>27476793
Aave interest isn't great because no one is borrowing link to sell. The best move to make is as the first reply says, deposit link, borrow stable, buy more link, redeposit on Aave, repeat as many times as you like depending on your risk tolerance. I keep my health factor above 4 which is pretty safe but if market crashes you can top off your wallet or sell some to close position.

>> No.27477497

>>27476147
Bancor blocks Americans.

>> No.27477647

People on here sperg out but there is literally nothing wrong with celsius. My 11k stack on there gets me an extra $1,000 a month give or take. Never missed a payout.

>> No.27478063

>>27477647
Yea I have $50k of my crypto on celcius. Been working great so far... I'm thinking about moving the rest of my crypto (another $100k) on there but I'm not sure if I can stomach the risk of losing it all... Even if it's a VERY small risk..
Maybe it would be smarter to diversify to another lending platform.. thoughts?

>> No.27478334

>>27478063
And I can't/ don't want to use decentralized platofrms because of retarded tax laws in my country (tokenized loans and staking are most likely taxable events here...).

>> No.27478337

>>27477093

How much gas are we looking at? I want to stake 5,000 LINK in a day or two.

>> No.27478347

>>27478063
I'm not sure about security or anything like that but I think nexo gives 6% interest on link. If it makes you feel better spread the link around. I appreciate the simpler approach personally.

>> No.27478349

>>27477647
I just don't trust celsius since it isn't open and you don't control your own keys. It is no longer your crypto when you put it into celsius you just have permissions to a box that represents your crypto and I don't like that.

>> No.27478356

>>27477497
VPN? If its a smart contract its not like they can lock you out of your assets permanently right?

>>27475474
>The only real downside is that the platform is mobile only

Wtf really? What kind of trash is that I had no idea I already use a separate computer for crypto and nothing else. I wouldn't trust a phone app with 10K LINK let alone already being centralized.

>> No.27478375

>>27477497
You can buy on coinbase and I had no problem jumping in a pool and restaking my rewards last week. To be honest I think that's them covering their asses from Johnny Law don't think anyone actually geo-fenced.

>>27477647
People sperg out because it works great till it doesn't. What do you think their doing with your linkies? Common sense tells you they're lending them out to certain entities so they can short it. People get mad at the phrase not your keys not your crypto but if celsius went belly up today do you think you'd have any recourse and if you did how long would it take to get your stack back and what percentage of it?

>> No.27478399

>>27478063
There's Nexo which offers 6% on Link. However I couldn't log into my account today using 2FA as it said the codes were wrong. Thankfully I don't have any assets on there and I will probably not use it for that reason.
Also they might have been involved with the Zeus FUD last year, not sure what happened with that.

>> No.27478493

Crypto.com works well and is easy to use.

>> No.27478520
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27478520

>>27478375
>if celsius went belly up today do you think you'd have any recourse
Yes.

>> No.27478536

>>27478063

I think your options are NEXO, Crypto.com, Bancor, AAVE, and Celsius. I think even Binance and Kucoin offer decent rates but only on stable coins.

>> No.27478681

>>27478347
>>27478399

SLOPPY JOB SIMEON

People pimping nexo have short term memory they're definitely sending your link out so it can be used for shorting I'd rather just hold them in a wallet than use nexo and get rugged eventually.

>> No.27478711

>>27478356
>I wouldn't trust a phone app with 10K LINK let alone already being centralized.
I think they are working on a webapp. Honestly though a phone app done with with 2fa is extremely safe. I'd rather a company start there and do 1 thing well than try to do 10 things and fail on security.

>> No.27478722

>>27477647
That would literally pay my bills each month and I have nearly double that much LINK but I'm so paranoid I don't trust it even though I really want to damn. I'm in the Midwest in a real low cost of living area.

>> No.27478843

>>27478337
If you're staking 5k it's worth it to jump in as soon as you can gas fluctuates but you're rewards over time will crush it

>> No.27478854

>>27478722
I felt like this at first but I did the math on compounding interest on an appreciating asset over time. It's too good and I just sit at home and shitpost, ultra comfy all day.

>> No.27478902

>>27478711
>I'd rather a company start there and do 1 thing well than try to do 10 things and fail on security.

That I can agree with. I have a bunch of Yubikeys so if they make a webapp I'd just go that route if they allow for the functionality.

>> No.27479098

>>27478722

Just put it in Bancor. I have 18k LINk there with 45k BNT ish. Had it in since it started 9-10 weeks ago. Unbelievably cosy fren.

>> No.27479111

>>27475921
If it makes you feel better. Alex the ceo said that if that were to happen, They would try to reimburse victims from their own balance sheet.

>> No.27479241

>>27478337
worth it no matter what, fees literally might be like ~$100-150+ though
5k in the pool opening at once will be hard to nab, though. if you break it up too much the fees will rape you.
the really fat rewards on bancor are on the BNT side though

>> No.27479259

>>27478854

I thought about splitting my stack between 3 CEXes as other people mentioned. I'd probably do Celsius NEXO and Crypto.com. I think I'd get around 4.5% between the 3 with equal portions on each. I'm not to thrilled about using NEXO though because of the LINK short shenanigans awhile back although they offer the best return. I could use Bancor instead but I'm American so I'd have to use a VPN and hope there are no issues there. This is incredibly tempting.

>> No.27479262

>>27477335
>Aave interest isn't great because no one is borrowing link to sell. The best move to make is as the first reply says, deposit link, borrow stable, buy more link, redeposit on Aave, repeat as many times as you like depending on your risk tolerance. I keep my health factor above 4 which is pretty safe but if market crashes you can top off your wallet or sell some to close position.
How does this work hmm? So say I deposited 1k LINK and borrowed $20000 worth of stable. Then I transfer that to Binance buy 1K more LINK and then redeposit again on AAVE? Where can I find the health factor
Man I fucking w

>> No.27479367

>>27479111
lol

>> No.27479382

>>27479098

How much did you lose to IL while you were building the 100 day protection? The price of LINK more than doubled in that time frame. Also I'm American so will a VPN suffice. If I get flagged will I be able to at least access my assets to withdraw them?

>> No.27479728

>>27479382
You don't lose anything to IL if you don't withdraw. After 100 days you're fully insured for it and all the fees and rewards accrued till then.

>> No.27479782

>>27479382
>Impermanent loss protection starts vesting immediately when you deposit. But you must be in the pool until the cliff is reached before the protection can be utilized.

>> No.27479809

>>27479382

I lost nothing. I dont plan on selling LINk anytime soon, and LPing for short periods is for degenerate pnd yield farms/ uniscams.

AFter 30 days you're covered for 30%, you coudl easily pullout 1-2k LINK then with zero IL. Not sure if you understand, but its not"

You experience IL for 100 days, adn then after that you're covered. Its at an interval of 1% a day; with a predormant period where the IL insruance doesnt go active until after 30 days.

I can withdraw fully now if I wish with zero IL + fees earned + LM rewards. Also Bancor are adding admin fees to vBNT (token when you vote w/ BNT) so there's another source of income from the BNT token. You are relly missing out fren. I've made absolute bank on the BNT side, adnthere's nothing comfier than using LINk for passive income + that I hold the keys too that's not being lent out.

>> No.27479865

>>27479262
Health factor pops up when borrowing it shows what yours would be. 1inch is easier than binance for buying too they'll get you the most link at your price.

>> No.27479873

How come Bancor is blowing the fuck up if it’s solved IL?

>> No.27479900

>>27479262
The path is correct but the move is normie tier; keep it on chain and decentralzied. Use that USDC and go to 1inch or uniswap or Bancor or whatever and buy your LINk via that. Pointless sending to Binance to send out etc.

>> No.27479903

>>27478681
That happening and the attempted short squeeze were some really fun times though. Also think of how many normie retards got priced out of link after they were shaken out by that zeus fud lmao.

>>27479367
The only reason I think they actually would try to do this is because the dudes done successful start up tech companies with no shady shit that I could find. Also he would have a shit ton of crypto incels with nothing to lose trying to murder him. I have to assume he knows that and has adjusted the security of the network to cover for it.

>> No.27479966

>>27479873
isn’t blowing up*

>> No.27480137

>>27472943
I moved my stuff from Celcius to Nexo as they have higher interest rates for my stinkie’s

Celcius 4.5%, Nexo 5%

>> No.27480176

>>27479728
>>27479782
>>27479809

Beautiful I misunderstood how the IL protection worked then. I guess the main thing is figuring out if a VPN will work. I'm seeing nearly 16% APR right now between the LP fees and bonus period they offer. I see it ends in about a month will it simply go to under 2% after that?

>> No.27480276

>>27479873

Because a majority of people in this space are retards and wait for their twitters to shill it to them. Hayden and all those other dex fags copied Bancor initially, and now Bancor have decided to again lead at the forefront but this time they didnt share their code lmao. So the other dexes are jsut sitting on their thumbs going "But you cant TECHNICALLY solve it hehee" and these pseudotechnical-philosophy debates. Bancor just has an action bias and gets it done.

Since september, you could have x4 on BNT + gotten 200%+ APY (so an extra 40% BNT stack; not just appreciation) with no risk of IL.

The big grain stack for the future is LINK + BNT + YAX + GRT. You'll see Yax shilled enough soon too; they'll have btc + eth vaults coming live soon mdi march maybe once audits are done, and I imagine LINK down the line.

T. top 15 YAX holder

>> No.27480450

>>27480176

No LP has been extended. When the LP mining ends, the swap fees will be so high that people won't leave. I mean I won't. WHy would I? I have 0.5 LP token, so that covers me for 5k LINK. hHat am I gonna do with my other 20k?

Re VPN not sure; better off asking on a privacy subreddit or inthe tg

>> No.27480638
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27480638

>>27479865
>>27479900
Alright I'll use 1inch instead of Binance. Will the health factor only pop up after I deposit my LINK? It's not showing me atm. How much USDC for a would you suggest taking out if I deposited 1000 LINK (for a fairly low risk play)? I assume if I took out 1:1 of my collateral amount in $ my health factor would also be pretty high?

>> No.27480725

>>27480450
>When the LP mining ends, the swap fees will be so high that people won't leave

Why do you think the swap fees will increase? They don't have much volume. 91MM LINK TVL but only around 4.5MM volume.

>> No.27480752

i've got mine in nexo, 5% is pretty noice

How safe is bancor?

>> No.27481003

>>27480176
Don't think you need one can access just fine. Don't think I even got a pop up or anything that said I couldn't use it. As I said BNT is on coinbase so I think they're good.

>> No.27481216

>>27480725
They're still growing and haven't started promoting yet. They've stolen about 20% of link volume from uni and sushi the past month and the word is just getting out.

>> No.27481408

>>27472943
Nexo ain’t bad either anon 5%APY paid out daily

>> No.27481434

>>27480638
If you're depositing 1k link you should only borrow maybe 20% of that value to be safe. If market crashes you can get liquidated 10% when your health factor goes down and reaches 1 so you should monitor your position probably every day.

>> No.27481822

>>27481003

Hmm I'd still probably use one anyway but that is good news to hear. I'd want to rope if my LINK got stuck on their platform and I was locked out somehow.

>> No.27482140

>>27479241

Cool, thanks. Dumb question but I’m new to staking- do I need to add a few hundred worth of ETH to pay for the gas?

>> No.27482454

>>27482140

Yeah; you should always have around 0.3 eth in your wallet for txns. If have leverage out on AAVE, you are straight up retarded if you dont have minimum 1 eth in your wallet to absolute frontrun all other txns incase of a huge crash./ black swan.