How can I check if I’ve made money on the

Question

DeFiChain - International

VĪƚRØ

How can I check if I’ve made money on the

auction? Anyone knows?

#blockchain #cryptocurrency #defichain #english

0

25.01.2022

25 ответов

8 просмотров

VĪƚRØ Автор вопроса

Andreas
Check how much $ worth of tokens you pay for the a...

Logically, that was my approach but then when I converted DFI into the price token and the collateral is also DFI it turns out I’m paying more DFI to buy the token than I’ll get in return from collateral. How’s that possible?

0

25.01.2022

Andreas

VĪƚRØ
Logically, that was my approach but then when I co...

It's possible because you made it possible. If you think it's a bad deal, you shouldn't do it.

0

25.01.2022

Nikita

Andreas
Check how much $ worth of tokens you pay for the a...

Is there any API for auctions?

0

25.01.2022

VĪƚRØ Автор вопроса

Andreas
It's possible because you made it possible. If you...

Don’t get it! The bidding price showed lower that the collateral so it should be good. How can I check off I actually made any profit on the deal?

0

25.01.2022

Andreas

Nikita
Is there any API for auctions?

Yeah, but documentation is still lacking: https://jellyfish.defichain.com/ You can also see auctions in the light wallet, at https://defiscan.live/auctions or at https://dfi.terac.de/auctions.

0

25.01.2022

Andreas

VĪƚRØ
Don’t get it! The bidding price showed lower that ...

You have to calculate it on your own.

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25.01.2022

Kassius84

You can see how many dTokens are needed to win the auction and you can see, which collateral you will win. Now go to the DEX, enter the needed amount of the dTokens and see, how many DFI you need to buy.

0

25.01.2022

Nikita

Andreas
Yeah, but documentation is still lacking: https://...

Can I message you in pm?

0

25.01.2022

Orkan Cetin

VĪƚRØ
Don’t get it! The bidding price showed lower that ...

From personal experience, right now auctions are 99.99% of the time overpriced and you loose money

0

25.01.2022

VĪƚRØ Автор вопроса

Kassius84
You can see how many dTokens are needed to win the...

I did that and it turns out I need more DFI to buy a token than I get DFI as collateral even though the auction descriptor on the DEFI website says the price is cheaper than the collateral.

0

25.01.2022

Andreas

Nikita
Can I message you in pm?

Sure

0

25.01.2022

Dennis Washington

The value of the dtokens on the auction page shows the Oracle cost (cost to mint) the tokens not the cost of them on the Dex. You are comparing to different things, minting them vs buying them

0

25.01.2022

VĪƚRØ Автор вопроса

Dennis Washington
The value of the dtokens on the auction page shows...

You mean for the bid prices? Is there any way, a table to automate this process? To see if the auction is worth the shot?

0

25.01.2022

Dennis Washington

VĪƚRØ
You mean for the bid prices? Is there any way, a t...

Absolutely you can build a table using the ocean or jellyfish API

0

25.01.2022

VĪƚRØ Автор вопроса

Andreas
Yeah, but documentation is still lacking: https://...

According to the table you’ve posted nearly all the auctions are a loss? WTF 🤬

0

25.01.2022

Dennis Washington

VĪƚRØ
According to the table you’ve posted nearly all th...

From one perspective...they are liquidated vaults so the collateral can't be more than 150% the loan plus 5% fee. If you are buying tokens to bid then it is a straight loss, if you are minting, then now you control more DFI than before, but have an open short... This is how it works...are you looking for a quick win, or do you want to understand

0

25.01.2022

VĪƚRØ Автор вопроса

Dennis Washington
From one perspective...they are liquidated vaults ...

oh so the creditor gets his loan back and the dummy who thinks he’s made a great deal by buying the auctioned vault is getting screwed. Do I get it right?

0

25.01.2022

Dennis Washington

VĪƚRØ
oh so the creditor gets his loan back and the dumm...

No you didnt

0

25.01.2022

Andreas

VĪƚRØ
oh so the creditor gets his loan back and the dumm...

No, not necessarily. We're currently in an unusual situation were the collateral lost more value than the underlying borrowed amount. If the collateral gains more value than the borrowed amount again, it might make sense to earn with auctions again.

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25.01.2022

VĪƚRØ Автор вопроса

Andreas
No, not necessarily. We're currently in an unusual...

Ok, is this because the stocks dived lately?

0

25.01.2022

Andreas

VĪƚRØ
Ok, is this because the stocks dived lately?

Rather because cryptos dipped more than stocks.

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25.01.2022

Dennis Washington

VĪƚRØ
Ok, is this because the stocks dived lately?

That adds to the lower spread, but again you are bidding for the right to close an open short

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25.01.2022

VĪƚRØ Автор вопроса

Andreas
Rather because cryptos dipped more than stocks.

Ah, OK. So using that table you’ve sent the link to. I always have to see that the collateral dUSD value is higher than the loan dUSD, this way I should be good. Correct?

0

25.01.2022

Andreas

VĪƚRØ
Ah, OK. So using that table you’ve sent the link t...

Yeah. I'd rather look at the USD value of the assets you're beginning with in the first place, though.

0

25.01.2022

Andreas · Accepted Answer

Andreas

Check how much $ worth of tokens you pay for the auction and how much $ worth of tokens you get from collateral in return. If what you pay is lower than what you receive, you make bank.

0

25.01.2022

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