Okay I just tried out the beta light wallet auction

Question

Okay I just tried out the beta light wallet auction

on relatively small auction. It looks like I won it. But is there anyway to know we won it other than watching your wallet balance increase?

#blockchain #cryptocurrency #defichain #english

0

09.12.2021

4 ответов

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DcShel Shelton Автор вопроса

My test on bidding on a smaller auction was to take loan on enough tesla token about .336 or $350 worth, and then bid to pay off the TSLA amount to win the DFI collateral with a value of $394. Only cost a fee fi to pay bid. so I said what the heck, an easy 40 bucks. Didn't want to try on this beta with a larger amount and also to see how this protocol worked. Well I won the auction and got the collateral, and it took my .336 bid I had in my wallet for the TSLA but not I need to pay off that .336 TSLA on my little loan. Problem is I'll be damned if the stupid non stable dUSD isn't jacking it all up! I now need to trade some of my 105 DFI to swap for TSLA to pay back loan. That 105 DFI should be over 500 bucks, but because the DEx price to swap DFI to dUSD is like a lower 3.82 ( and the all these stock tokens do a double swap to go through this dang dUSD) I lose so much value that I now at at a loss in winning that action! I had to throw in more of my spare dUSD and DFI to create enough dTSLA to pay my 30 mintue loan! good grief.

0

09.12.2021

DcShel Shelton Автор вопроса

yeah, but I wanted to try arbitraging it same day. but apparently that ain't possible. I would have had to keep that loan open and only then borrow out more TSLA, thus limiting myself and exposing myself to having to keep that loan open. more to track.

0

09.12.2021

Lee

DcShel Shelton
My test on bidding on a smaller auction was to tak...

I feel you... Auctions are a instant loss at the moment.

0

09.12.2021

Donny · Accepted Answer

Donny

DcShel Shelton
yeah, but I wanted to try arbitraging it same day....

True!… Learning curve I guess 👍🏻

0

09.12.2021

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Okay I just tried out the beta light wallet auction

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