AToken Shows You How to Make Profits with MakerDAO
DeFi, also known as Decentralized Finance, is the hottest blue ocean in the blockchain field in 2019.The current market size has exceeded $ 500 million. In the DeFi market, decentralized lending platforms, typified by MakerDAO and Compound, have developed to a considerable scale.
Under what circumstances do users generally use MakerDAO and Compound?
If forecasting a bullish market, you can replace ETH with the stable coin DAI （now changed into SAI）through MakerDAO, and then exchange it with ETH through the AToken’s currency exchange function. After ETH rises, you can sell them to repay MakerDAO DAI and interest, which gains excess profits with the decentralized method and the principle of leverage.
At present, MakerDAO’s annual interest rate is about 11%, which is 10.5% cheaper than the leveraged interest provided by centralized exchanges; furthermore, it is completely transparent without worrying about the troubles caused by centralization.
If forecasting a bearish market, you can exchange the stable coin DAI with ETH through Compound, then sell ETH. Buy ETH after it rises, then repay the original amount of ETH through Compound. This is the decentralized way to go short for gaining profits.
AToken has recently launched Compound and MakerDAO portal, come to experience and gain excess profits.
01 MakerDAO
Overall Functions
1. Establish a smart contract CDP (Collateralized Debt Position)
2. Pledge ETH in CDP to generate stable coin DAI
3. The minimum amount of pledged ETH must not lower than 150% of the generated DAI.
MakerDAO Guidebook
1. Open the AToken App, then click the “Discovery” column to find DeFi zone, and then click “MakerDAO” to enter the MakerDAO official website;
2. Click “Connect” to connect your wallet;
3. Click the button “Create CDP” to enter pledge page;
4. Enter the amount of ETH you pledged and the amount of DAI you want to borrow, then click the button “Pledge and Create DAI”. Please notice that the pledge rate cannot be lower than 150%, that is, the total amount of your pledged ETH divided by the total amount of borrowed DAI cannot be lower than 150%;
5. Confirm the mining fee and enter the password to sign. The confirmation of signature means the completion of pledge.
6. The status will be displayed when the pledge is completed. On pledge page, you can see the current settlement price and pledge rate in the CDP. What you need to know is that you can freely increase or decrease the amount of collateral, as well as borrow or generate DAI during the borrowing process.
02 Compound
Overall Functions
Compound platform supports two types of business: “currency supplying” and “lending”. Here we only introduce the lending business.
1. Create a deposit contract.
2. Store your assets in deposit contract and cToken will be automatically generated. Compound now supports ETH, DAI, USDC, REP, 0x, BAT, WBTC etc.
3. Like MakerDAO, the pledge rate set by the system must not lower than 150%.
Compound Guidebook
1. Open the AToken App, then click the “Discovery” column to find DeFi zone, and then click “Compound” to enter the Compound official website;
2. View available assets in your current wallet and select a certain coin, then confirm the amount you can lend;
3. Enter wallet password to authorize connection, then click button “SUPPLY” to deposit;
4. Enter the amount of deposit, then click button “SUPPLY”;
5. Enter the password to sign and the confirmation of signature means the completion of deposit.
After reading this text, you will find it is quite easy to use MakerDAO and Compound. Now it is time to experience the above in AToken App by yourself and gain excess profits. Just do it NOW!
Last but not the least, a tutorial course is attached here to help Vietnam users download AToken App:
- Visit the official website home page: https://atoken.com/
2. IOS users can click APP Store below and download AToken App for IOS
3. Android users can click Google Play below and download AToken App for Android
4. Users can also scan the QR code below and the system will automatically identify IOS users and Android users.
If you have any question, pls feel free to contact AToken team on telegram: https://t.me/ATokenVietnamOfficial
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