Problem solved: taking out another portion of DAI to buy HIVE power

in LeoFinance10 months ago

After my first succesfull attempt to wrap some bitcoin with the purpose of acquiring some powerd up HIVE, my second attempt failed. I wrote yesterday about how the system would only let me take out 1 DAI (https://leofinance.io/hive-167922/@partitura/problem-or-bug-with-taking-out-an-extra-loan-out-of-a-bitcoin-vault-at-oasis-app). Today, however, the glitch was magiacally restored, and I could again take out the loan I wanted. Yeah, let's celebrate!


[source(https://unsplash.com/photos/5P4O30jhgCY)

Where yesterday I was greeted with this screen:

Today, however, it said:

And I could take out again what I wanted. Originally, I intended to take out 150 DAI. That would lower my collateralization ration to a little over 230%. That's a bit too close to the minimum of 150% to feel safe, so I lowered my loan to 125 DAI. With uniswap that was easily converted to WHIVE.

And then on the whive.network site I send the WHIVE to my HIVE-account and powered it up.

And now I have 250 + 720 = 970 HIVE aquired and powered up in this way. According to https://hivestats.io my APR varies between 11.5% en 12.5%. That means that all things staying equal it'll take me 8 years to pay back these HIVE. Of course, anything can happen in those 8 years, so probably I'll pay it back much sooner than that. That does not change fundamentally what is happening: part of my HIVE power is paying itself. For me, that's a mindboggling concept.

Posted Using LeoFinance