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28978044 No.28978044 [Reply] [Original]

Hack for literally free money:

1. Deposit your HODL coins (BTC, ETH, LINK) on AAVE
2. Use HODL coins as collateral against stablecoins
3. Put Stablecoins in high-yield DEFI farm/pool

Are any anons doing this? What're you farming?

>> No.28978558

There have to be some big-brain folks doing this

>> No.28979138

>>28978044
how much collateral do i have to put in for x amount borrowed?

>> No.28979334

>>28979138
You can usually borrow max 70% of collateral. Don't go that high, a flash crash could liquidate you.

>> No.28979385

>>28978044
this is pretty much exactly what caused the defi bullrun back in the summer

>> No.28979407

>>28979138
70-80%

What do anons do to farm here? 20-30% Borrow APY on loans is tough to swallow

>> No.28979517

>>28979407
If i borrow 30k and have to pay back 30% dashard

>> No.28979552

>>28978044
Hello from last June

>> No.28979633

>deposit BTC on AAVE
>take out 100% loan
>buy BTC with loan
>deposit BTC on AAVE
>repeat until 100,000x leverage
try and stop me
not selling until BTC hits $300k

>> No.28980162
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28980162

>>28979633

>> No.28980166

>>28979552
Are people still doing that? Where are they putting their farmed coins?

>> No.28980324

>>28978044
how much in gas would this cost?