Master It Monday: Using Backstop Protocol to Increase Yield on MakerDAO Vaults

An interview and tutorial of using B Protocol to earn yield on your MakerDAO vaults

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One of the few DeFi protocols without a native governance token…

*exhales deep breath of relief*

Yeah. Its lit. B Protocol is focused on improving the liquidity and effectiveness of DeFi’s borrowing/lending markets through liquidation mechanisms.

Sounds scary eh?

Yea yea just keep your HF above 3 and you’ll be good (oooooof).

But yeah so basically the current liquidation mechanisms in DeFi aren’t even close to the caliber that CEXs and TradFi have setup.

B Protocol is taking a step in the right direction for everyone involved.

If you have any funds in MakerDAO vaults, this is a way for you to transfer your vault to B Protocol & earn more yield.

Yaron used to work big time with Kyber and is v knowledgable when it comes to smart contracts, he walked me through B Protocol and what to expect from a user POV.

Enjoy!

-Andy


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📈 Shoutout to DeversiFi! Trade at lightning speed, with deep liquidity, directly from your privately-owned cryptocurrency wallet on DeversiFi’s L2 gasless exchange!

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Master It Monday: Using Backstop Protocol to Increase Yield on MakerDAO Vaults


Sponsor Update: Oxis Wallet is an easy-to-use, non-custodial wallet for DeFi degens like us. Secure, safe, and simple, the Oxis Wallet is a must have!

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You know what they say…not your keys, not your coins 😉


⚠️ DISCLAIMER: Investing into cryptocurrency and DeFi platforms comes with inherent risk including technical risk, human error, platform failure and more. At certain points throughout this post, we might get commission for promoting certain projects, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.


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