Putting Your Dai to Work

By MoneyMan | Crypto And Money | 30 Jul 2020


There are few things better than making interest on money you have. If your holding it anyway, then earning on it is basically free income. 

Currently due to extremely low interest rates on fiat products in USD, you’ll be lucky to earn around 1% interest at a bank. That’s what I love about crypto, and DeFI space. Many coins, including ones pegged to the dollar can earn much higher rates of interest.

I’m sure most of you know about compound, so I’m not going to bore you with any details on how that works. But that being said, a couple of day’s ago they passed a new governance proposal. 51f0a3ecb7a1fbda35dc6e062bbd1869f304e63de50971031f3f74b0c42f5d24.pngThe proposal basically is juicing the interest rate for DAI by tweaking how it’s calculated. Since the proposal passed I’ve received between 7-9% Annualized interest on my holdings. That doesn’t include the amounts of COMP I’m accruing, which I currently value once I  sell it at an additional 3-7% annually. 

Here’s a screen shot from this afternoon. 
e7c6d51ef2b0d2b01a01a4be8a4cc07d9e3a19b5883cd66911f83e7d58ebbc8d.png

Not bad for putting your dai to work. Interest rates over 7% are nothing to scoff at. In the stock market or bond market, you’d expect most companies to be risky if the yield was that high. 

Now go make some extra money while you hold your crypto. 

Please feel free to sign up for Publish0x and send a tip. I'll greatly appreciate it. 

Some other income streams I’ve found online  are: 

Binance - The Best exchange on the web

Brave Browser - Earn BAT while surfing the web

Pei App - Cash back app where you get BTC for everyday shopping or using companies like Uber - use code "ahupue" for $5.00 USD worth of BTC

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MoneyMan
MoneyMan

Just a normal guy


Crypto And Money
Crypto And Money

Just my thoughts on making money via crypto stock or online

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