Gain More Profits than 70% of Other Holders — DEX Lending in Defibox

10:00AM, June 18, 2021 HKT AMA RECORD

Join the TG👉: https://t.me/NewdexChat

Data Junky:Time for the AMA. It is our pleasure to have Defibox Oversea Speaker — Raven. Today, he will interact with group members here and answer the questions from community. Please try to reduce your messages during the AMA. Nice to have you here@defiboxraven

Users: Nice to meet you.

Data Junky: I’m the host today. Nice to be here.
Raven, please let me know that you’ve finished your answers with a signal “That’s all”. @defiboxraven

1.Would you first introduce yourself and Defibox briefly to our members here, please?

Raven: Yeah, we will use voice message to live stream here, while sharing text in the group.
OK, let’s get started, in case you guys don’t here clearly, you can have a shout at group.
Hi, everyone. I’m Defibox oversea speaker — Raven. Nice to meet you. Defibox (https://defibox.io) is a one-stop DeFi application platform on EOS. We can understand this way: Defibox=Uniswap+MakerDAO+AAVE
Defibox has launched three protocols, namely Swap protocol, USN stable coin protocol and decentralized lending protocol.
Defibox got funding from Newdex. That’s why today we are having a AMA about how to play DEX in Defibox.
Btw, in July, Defibox will celebrate one-year anniversary. We will have a lots of events, everyone is welcome.
That’s all, thank you.

2.Data Junky: Well. Thank you for your kindly inroducing yourself to us. We held this AMA mainly for introducing “How to play DEX in Defibox” to our members cuz most of them don’t know what to do and what they’ll get yet. Raven, could you please describe it in a simple way, and our members will look into more resources to get a fully understanding, like how to add liquidity, how to generate USN and the lending of it?

Raven: There are 3 ways to play: as LP, Generate USN, and lending
1)LP: Participate EOS + DEX, get 50%;(the yield is dual)

2)Stake DEX, Generate USN, only need to pay 1% annual fees.

3)Lending:
① Deposit DEX, earn some income;
② Participate EOS+DEX, and deposit its LP in lending, earn LP yield + LP mining.

That’s all, thank you.

3.Data Junky: Well, thanks for clarifying the basic play of DEX in Defibox. Now here comes the third question. Can you tell us how we can earn more DEX in Defibox with the methods that you mentioned? Can you explain it in details?

Raven: EOS + DEX Liquidity Provider:
Well, just buy DEX and you will have more DEX (Well, half serious half joking here);
Participate EOS + DEX as Liquidity Provider，earn 50% APY, deposit your LP of EOS+DEX in lending，earn extra 4% mining APY. Borrow EOS, DEX, go this circulation:
EOS+DEX LP — -> Deposit LP — -> Borrow EOS，DEX — -> EOS + DEX LP

*Be careful about impermanent loss as Liquidity provider, and also your health factor in lending.

USN Play:
Stake DEX, generate USN，only 1% annual fees, deposit USN, earn 10% APY, borrow DEX and go this circulation:
Stake DEX — ->Generate USN — ->Deposit USN — ->Borrow DEX

*Stake DEX to generate USN, be careful with liquidation ratio and your health factor;
That’s all, thank you. Just be careful with your liquidation ratio/health factor when you stake in USN system / borrow in lending.

4. Data Junky: The 4th question we have:

As far as I know, there are two ways that we can get profits:

1) Deposit my DEX into Lending protocol and get the deposit interests as in the bank.

2) Get BOX rewards by participating liquidity mining + lending with EOS + DEX and deposit the LP Tokens after that so that I can get another BOX rewards. That means I can get double-reward by doing that.

Now, here’s the question: With 10,000 DEX +same value of EOS,how much could I earn?

Raven:
First one is deposit and earn; Now DEX interest earning+mining gives you less than 2% APY, it is a bit low. That means with 20,000 DEX，2% APY，you will get 400 DEX per year.

The second is Participate EOS + DEX as Liquidity Provider: earn 50% APY, deposit your LP of EOS+DEX in lending，earn extra 4% mining APY. Borrow EOS, DEX, go this circulation:
EOS+DEX LP — -> Deposit LP — -> Borrow EOS，DEX — -> EOS + DEX LP

That’s all

5.Data Junky: Wow, that’s pretty high. Looks good and great answer. Will earning interest be a sure bet if I simply using the lending part in Defibox?

Raven: Yeah, earning interest only by depositing is a very safe play, however the yield is low. You can also have a try on the plays we recommend: High yield with modest risk.
That’s all

6.Data Junky: Great, some people like the safer play so it’s a great question. Higher yields are higher risk. Good answer, great suggestion. I like a medium risk myself. The 6th question we have is: Can I interpret borrowing as shorting? If I borrow 10,000 DEX and sell it, thinking that the price will fall in a short term and buy them back at that time in a lower price. This would pay the interest AS well as the DEX I borrowed from the Defibox lending protocol, and I can pocket the difference. Is it against my long-term holding of DEX? I strongly believe that the price of DEX will go to the moon.

Raven: Borrow and sell is indeed a short sell，This is against my long-term holding of DEX. However a long-term DEX could short sell for some reasons: market analysis, inside information, trader instinct, thinking DEX price will fall in short term. But short sell itself is bearing risk.
Note that borrowing but not selling is not short sell, because as we mentioned, they borrow DEX for EOS+DEX LP or stake DEX, etc.
That’s all

7.Data Junky: OK Thank you. Short selling is a feature many take advantage of when you also offer the stablecoin protocol with lending. Thank you and great answer.

What kinds of risk should new crypto users pay attention to in Lending protocol?

Raven: You can download and read the instruction here.
1)Please read the Lending Manual carefully, here is the English version of Lending Manual
2)Keep your health factor > 2.0, just keep it in a safe level.
3)Do not short sell until you know what you are doing. Short sell is risky. If you short sell DEX and DEX price surges, you will lose a lot of money.
That’s all.

8.Data Junky: Great, can’t wait to read the manual and take it for a test drive. Gotta love this one. Question 8: Why do people deposit more and lend less in Defibox? Is it because they have no idea of what to do just like me?

Raven: There are several reasons:
1)Indeed, few people know Defibox lending, After this AMA, we will see more DEX borrowed for market arbitrage.
2)Not many people do short sell for DEX, that’s why not big DEX borrow amount.
That’s all

9.Data Junky: How will you allocate them to different protocols in Defibox with 10,000 DEX in hand?

Raven:
It depends how you see DEX in the long term
1)Long DEX Activist，firmly believe DEX price will surge soon, no risk of fall. This guy will long the DEX by using USN system, the play is exactly like people who long EOS.
The circulation goes like this:
Stake DEX, generate USN，using USN to buy DEX again
— -> Stake DEX…
If DEX price goes up, this activist with leverage will have more profit; however if DEX price goes down, he will have risk of being liquidated and losing all his assets.

2)Long DEX conservative，believe DEX price will go up, but might also go down in short term.
This conservative will adapt USN interest:
Stake DEX, generate USN，only 1% annual fees, deposit USN, earn 10% APY, borrow DEX and go this circulation:
Stake DEX — ->Generate USN — ->Deposit USN — ->Borrow DEX

In this way, if DEX price goes 20% up, he eanrs like 20%, if drops 20%, he loses 20%; Meanwhile, if DEX price doesn’t change, he can still earn interest with USN deposit.

3)DEX Neutral: DEX price might go up or go down, staying neutral.
Sell half DEX to EOS, participate EOS+DEX as liquidity provider, and deposit LP in lending.
This means, this neutral guy will earn less if DEX price goes up / will lose less if DEX price goes down.
And he participate EOS+DEX LP, he will earn a high APY and this is also pretty good.
That’s all.

Data Junky: Excellent, that is a wide range of options. One of the things we love about Defibox is all the options.
Well. These are all questions I had for you today.
Time for Q&A. Now if you have any questions, just ask Raven and he’ll give you the answer. Now it’s your time to ask.

Raven can pick some of the questions to answer. If Raven says: OK. That’s all for today. Then Data Junky should stop the Q&A part.

Q&A

User1: If you stake DEX to generate USN, is it irreversible? So you generate USN at market value of DEX at that time and you lose if later DEX price goes up?
Raven: https://defibox.io/usn We have reward, you can check on Defibox website.
Just check the USN system and you’ll know. For example, you stake 1000 DEX there, it is there. It is always 1000 DEX there. You just stake there for the USN system. But for the details, you can check our website to learn more.

Exactly it’s there. If you see the other trading pairs, it’s actually really high for the DEX. Also, this market might change. And we have a discussion with Newdex team that we’ll have the dual mining to lower the mining of BOX and to give extra DEX mining reward to balance out, to keep the APY still in a high level.

User2: When DEX moon?
Raven: Hope soon. :D…Defibox will fuel DEX to the moon (not sure, but if we can, we will.)🤝

User3: Are synthetic assets are on the agenda for Newdex ?
Raven: Not on our Agenda for now.

User4: What is significance of BOX now. Is DEX trying to steal the show from Box?
Raven: We actually go hand in hand. Newdex goes cross chain, and Defibox also goes cross chain. Newdex will probably go on BSC or some other chains. For Defibox, we are going to the BSC together, actually. You can find BOX token in BSC now…not tradable yet…

User5: Are there any plans/strategies and or campaigns for introducing Newdex and Defibox to non-blockchain users? Expanding the user base to include people who are not currently customers, such as people already using apps like Robinhood could be potential users?
Raven: Interesting question, we will do whatever we can. We’ll invest more in especially Twitter/TG KOL, and also we’ll have more members on google search/SEO to improve our influence. And for domestic, we’ll build more media cooperation, etc. We are already on the move.

User6: Does defibox have plans to launch products similar to uniswap v3?
Raven: Not yet, but it is on our research agenda

User7: Once I learn how to provide liquidity , will I finally get a girlfriend?
Raven: I heard there is a beauty on the moon, take this DEX rocket.

User8: What is B1 doing to help defi movement. BB said he is opening the flood gates on defi a year ago. Is that frog gone under the rocks after croaking a bit?
Raven: The B1 is doing the Bullish.com exchange, we will see.

Raven: Anyway. Just visit https://defibox.io/ with your mobile App, enter the Dapp and go to Defibox. You’ll see a lot of interesting things. It’s my pleasure to be the speaker here. From the questions I got to know that there are quite new users who are not familiar with Defibox and have no idea of how to play. I suggest you go to the website and read the instructions carefully. And then you can try to play in a small amount of tokens, like the liquidity provider or to stake your EOS/DEX to generate USN. You can also participate in lending to learn how this system works. Then you can use your DEX in hand to generate more profits and earn more and more DEX in Defibox.
Anyway, thank you guys. It is my pleasure to be here. If you have any other question, just leave a message in Newdex Team. Thank you for your time. Hope to see you again.

Data Junky: We really appreciate all the members here that participated in the AMA today. And thanks to Newdex and Defibox for coming to answer all these great questions.

We learned a lot about lending protocol through these explanations. I’m looking forward to the next AMA.

Guys, time for the Lucky Draw! Please fill in the charts here with your telegram ID and EOS account.
http://hk.mikecrm.com/6mikW6H
We’ll send 1000 DEX Giveaway for 5 lucky participants.
*Deadline: June, 19th, 2021 HKT
*The list of lucky users will be posted to the group within 7 working days.
*The rewards will be sent to the account in 7 working days.