Build a Lending App with Polygon
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- Опубліковано 6 гру 2021
- DeFi is getting more and more attention lately. There are 1000s of DeFi apps that are being built by developers all around the world to provide the underserved to access to financial applications like lending, insurance, and earning. In this tutorial video, I'll show you how to build your own simple DeFi lending app that lets a user deposit Eth as collateral, and get stablecoin in return. They can also repay the stablecoin and get their collateral back. This is an ethereum application, but to avoid high gas fees and slow transaction times, we'll use the Polygon blockchain.
Code for this video:
github.com/llSourcell/lending...
Coding challenge (Due Date: 12 December 2021):
Post your simple DeFi app to Twitter, Instagram, or facebook with the hashtag #BuiltWithPolygon
Learn more about Polygon:
docs.polygon.technology/
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• Ethereum Explained
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LOL. He went from the AI guy to the Blockchain guy.
He actually started as a Blockchain guy first when he first started
No matter what topic it is. He is just awesome at explaining.
Quite impressive.
He is just a blogger )
What's important is his video adds value to someone.
When AI can't pay anymore.
🤣
Thank you Siraj! Just like old times, missed your videos like this!
Nice video, informative and educational 👍, Thanks Siraj
This is amazing. Thank you so much
Congratulations. Keep up the good work
speeeschless ..... I am from El Salvador, in Central America, and in Spain one would say about him "Este tio es la leche!!!" this guy is the milk !!!!
I dont get how you released this in December and its out of date with obiously broken code in the github repo
Because it's Siraj
The code doesn't work? I was about to try to test it by myself, but if it is wrong... Could you please clarify whath you mean by broken, im not a native english speaker. thank u.
keeeep rocking ser
Can you add a little more detail on actually getting this example to work?
Thanks for creating this. One question on the use case - why can't user sell all his tokens and withdraw the money..later if he wants, he can buy again.. collateral like lands etc makes sense due to liquidity constraints.. do we incur less fee by using crypto as collateral instead of selling it and buy back?
Because the user's tokens are locked in the contract and so they can't sell them I would assume.
depends on the liquidity pool
While I support the idea of crypto and blockchains, moving currencies to FIAT is still a dependency and the volatility is a challenge for lending money in two different metric systems so to speak. So far in my uneducated opinion this type of solutions are like building a new language using the English words and only changing grammar rules.
I thought you'd have built this in India by now. Especially since India is the 2nd biggest cooperative banking nation.
s/o from South Africa.
Hello world, Siraj is back! Great vid, keep it up!
The Buzzword Channel
Make a video on blockchain roadmap ???
Maybe this is a noob question, but how or why would this be desirable? Is it possible to put up collateral that is of less value than the loan, or is this just a currency conversion?
Because you can invest 1000usd, get a loan for $500 at 4% interest rate, and than purchase more crypto with that $500 with ROI of 1000%
@@edendqo so if I'm understanding correctly, you buy $1000 of crypto, then get a loan for $500 to buy an additional $500 of crypto, so you have a total of $1500 in crypto, right? What I don't understand is where we, the borrower, get collateral of equal value to $500 for that loan. And, if we have collateral of equal value to $500, why do we not just buy the extra $500 of crypto instead of getting a loan? It just seems like an extra step that doesn't help us access any extra value, unless I'm still missing some key detail.
@@austinmitchell2652 you don't have same value as you collateral, you have 50% value of your total collateral... But don't do it now, we are in a bear market until march
@@edendqo you are not helping me understand very well. If the loan gives us only half the value of our collateral, then by taking the loan we are halving our spending power to buy more assets, right? If our collateral is worth twice as much as the loan we receive, we should always just use our collateral to outright buy more assets. Please tell me there is something wrong with my understanding here, because that does not make any sense.
Also please do not assume that I am actively buying and trading cryptocurrency (by referencing the bear market). I am just trying to educate myself and understand the technology better because I am interested in learning.
@@austinmitchell2652 easy, there are two scenarios, for example... 1- you are a greddy guy that is "all in" with his money on crypto, so he will try to squeeze everything he can to put his money on crypto (loans, credit cards, savements...) Also even, using as a collateral his current BTC to get loans in order to buy more (hoping his gains are way more bigger than the interest he is paying).... 2 scenario, you are a guy from a developing country with high rates in banking system (25% car loans, 15% mortgage), so he invest in BTC his savings, but he doesn't want to sell his BTC, so he is using his saving as a collateral to purchase a car or a house with low interest...
fuck yeah bro!! glad to see you're back creating instructional content! Keep it going with the web3 dapps. Love it
What is the prize?
Can someone help with how to start AI
I really like your content, i would like to have personnal conversation with you. Perhaps, you will drop video of how to create website like OpenSea
Need blockchain tutorials in python
I only get errors when I actually try to run it in either development or kovan
Legend is back again. Thank you Siraj for creating this video.
👏🏽👏🏽👏🏽 Bro! You are an inspiration. You bounced back with strong value that we can use right now!
I thought you were done. Now scamming in the Bitcoin world. Good luck scammer
First to watch, like and comment
Same old shit
Hello everyone. IMO This is the wrong way to go. I really think he should stick with being the face of AI, in what ever software language. IMHO