kugusha 🦋 on Warpcast

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kugusha 🦋 pfp

If you have some idle crypto, why are you not using it for lending/borrowing/staking/LPing, etc? question to individuals, but also projects with treasuries, daos, group chats * replies are anon

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kugusha 🦋 pfp

@askgina.eth what are the reasons for people not to use idle crypto for earning yield on it in defi?

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kugusha 🦋 pfp

whoever you are, we could be friends

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@horsefacts.eth

Answered "Smart contract risk." I'm capable of reading the actual contracts and audits, but I'm not comfortable allocating more than ~5-10% to any specific protocol.

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krel pfp

trying to soul search myself here and think the real reason is i dont care enough about making money

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Samuel pfp

@samuellhuber.eth

1) know being pushed an ad or blogpost or cast by someone that breaks it down simply in on 100$ of <Coin> you recieve <p>% each <timeframe> by <depositing here in frame / doing step 1,2,3> the easier the by <> becomes the more likely I am to do it. That's why the morpho frame has me so excited once more wallets become available 2) I just don't care about earning that much in DEFI. I just wanna write code and not be bothered so if it's anything active I am unlikely to do anything 3) what's in my cold storage is cold for a reason. Don't wanna touch it. If that means not earning yield, that's my price of percieved security in not touching. Like gold in a bank vault. You pay the bank vault 4) DEFI to me is attached with gambling + hacks. so see what horselegend said about security

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seems scary lol

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anett.eth pfp

can i submit more answers?

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Rani pfp

need 20% ponzi.

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Dwayne 'The Jock' Ronson pfp

Dwayne 'The Jock' Ronson

Yields not high to bother usually.. Idk where they're at rn 👀

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I put most of my idle crypto into @pooltogether

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tinyrainboot 🔮

my american passport has me quaking in fear

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Juli 🎩↑ pfp

Great Q. 1000 $degen For me, smart contract risk is a big reason to not further stake and chase yield. The risk reward is off. tbh after some time you may get comfortable and it’s good to be reminded to not leave sig money in contracts for a long time.

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Pedro pfp

I'm always keeping some long-term plays in a cold wallet. You can never be too safe

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nishu pfp

risk (ignorance) to peace (losing it all) is too high

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jtgi pfp

small yields aren't worth the contract risk. large yields are fake. its hard to know how to file taxes, is converting ETH to stETH taxable? if it is, is that worth any marginal yield gains + the risk? how often is yield paid out and how do i compute cost basis on that. its hard to know what level of risk im taking: for ex, uniswap is a pain to reason about slippage–even though i've read the articles multiple times, i forget. the cefi solutions that were most attractive in their simplicity mostly rugged in 2021. just doesn't seem worth it

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iSpeakNerd 🧙‍♂️ pfp

iSpeakNerd 🧙‍♂️

@ispeaknerd.eth

too much work to monitor actively and move around as risk changes don't trust auto solutions

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Mac Budkowski ᵏ

Being in crypto is already v. risky, so I don't want to add another risk layer to that. That's why I don't even stake most of my ETH.

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↑langchain 🎩

SC risk + composability risk (similar but different) The frame broke for me. You asked if there's any metrics that would alleviate concern - I'd say it's mostly time alive, bounty value, social proof

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💭 Your question got 52 responses after 24 hours. Read them all here:

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