The MakerDAO platform has been with us long enough to know if it is worth getting into its ecosystem. I wanted to briefly comment on whether this is the best place to store our DAIs.
From the Oasis app, we have the possibility to open a MakerDAO Vault to leave our Ethereum or BAT for example as collateral and generate DAI. Oasis is an eminently banking platform. We deposit capital, this capital generates interest and we have the option of requesting a loan based on our collateral.
We have thousands of decentralized applications where we can generate more interest in our DAIs. MakerDAO might seem more secure and consistent, but we have already seen the incidence with Cream and Yearn Finance, they have made it clear to us that these platforms are vulnerable to hacker attack. The replenishment of our funds is not assured and some of our assets have been corrupted.
In Oasis we will soon be able to take our DAIs to similar Lending platforms such as Aave or Compound. The APY with DAI is not very interesting to say, rather small. That said, I affirm that they are not the best candidates to deposit our DAI. It's going to work better out of here.
Some of you may reproach me for the following: The APY is low but it is much safer.
Friends, there is nothing safe in this life. The only sure thing is that you are going to die. We need to find good opportunities, not common options. We have to make quantum leaps in this sense if we play with little money.
I still think that within DeFi, Harvest Finance, Beefy and Pancakeswap, among others, they will give us better results.
On Beefy-linked Pancake Vaults, we have 98% APYs with DAI. It's amazing. In some DeFi token liquidity pools with DAI, even 200%. It is incomparable. MakerDAO is still rubbish, economically speaking. The profit received is a breadcrumb.
The question is how you classify yourself. If you are a daring investor with little capital and looking to get good returns, from my point of view, Beefy or Harvest Finance is more attractive. If you have a lot of capital, and you prefer a little more security, perhaps Compound or MakerDAO itself. The best option for those who have a lot of Ethereum in their portfolio, looking at the risk-benefit, would be to put it as collateral in MakerDAO and get a loan in DAI, to take it to Venus or Beefy and take advantage of its profitability.
On Venus, as long as nothing changes, you can request a credit without interest in VAI, leave it in Staking and generate XVS.
Many options, the limiting factor is still your capital.