Have you ever wished you could get paid to take out a loan? thread coming soon $AAVE $AVAX
OKAY this is an easy one! Get paid to take out a loan on aave.com -
This is a decent strategy if your stuck between two different assets, or simply want to compound gains let me explain;
for this example we will be using AAVE on the Avalanche Network! Simply plug in the Avalanche info found here -> support.avax.network/en/articles/46…
Step #1: Deposit your asset on $AAVE -
Make sure to check the list of assets available to deposit. You're going to want to chose an asset that has a high enough market cap like $ETH, to keep the volatility to a minimum.
Step #2: Take out a loan against your asset -
Chose your stablecoin of choice, $DAI $USDT or $USDC.
Step #3: Your Health Factor -
This is the important part! As you do not want to get liquidated. ( AAVE sells your asset) You're going to want to keep a HIGH health factor. I shoot for 2.5 ( for the riskier degens you play around with it)
Step #4: A couple different things I like to do here -
If I'm expecting more bullish price action, I'll buy another altcoin and either deposit on aave.com OR
Step #4.5: This is where your giga-brain comes in -
Instead of buying an altcoin w your debt, you could bridge your stables back to the $ETH network (right here: bridge.avax.network ) and get paid twice by depositing into convex.( remember convex?)->
Step #5: The Flywheel Effect -
Once you deposit your stables onto convexfinance.com, you'll be getting paid in $CRV and $CVX which you could then use to compound your convex flywheel which will intern bring you oh so closer to #FinancialFreedom.
The crucial thing here is to keep your eye on your Health Factor. This strategy is a little more active than our convex play but as long as we #PlaySafe#wagmi.
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Ladies and Gentlemen!
Today Ill explain a #StableCoin strategy .
This one really shows the power of #DeFi but is a little more complex, * MAKE SURE THERE IS AVAILABLE $MIM TO BORROW FIRST. THREAD TIME;
It all starts here!
Get your piece of the backbone of #DeFi Convexfinance.com will help you to accumulate $CRV and $CVX.
I call this the retirement fund. ( ultra long term)
TIME FOR A THREAD 😃
The strategy I'm about to outline is optimized for yield generation. Financial freedom means you need more money coming in than going out! So here we go;
Step #1: Buy $CVXCRV -
you can go to sushi.com to swap any token for $CVXCRV