wiki VS DeFiOptions

Ethereum Wiki - The Ethereum Wiki.

One of the earliest FAQs about proof of stake vitalik made in 2016 even talked about burning fees:

Ethereum website doesn't offer services like thia, by the way the correct Ethereum site is www.ethereum.org, not www.ethereum.com.

How is the gas-price calculated? It’s calculated in gwei, which you probably heard of. 1 gwei = 0.000000001 ETH. Every transaction to make on the ETH network cost a fixed amount of gwei + a variable amount of gwei. A bunch of transactions are packed into a block. These blocks have a size, depending on the amount of transactions that are packed into it. If the network activity goes up, so does the blocksize and so does the base fee and variable fees. This would mean: the more popular the Ethereum network becomes and people use it, the higher the blocks are to compute the transactions, the higher the base fees and variable fees become. The fees are calculated as a % of the value of Ethereum. So there is always a direct correlation between the gas fees and the price of Ethereum. On top, the fees are an essential part of keeping the network secure. You can also leave a tip, so a miner has an incentive to make your transaction happen before others, but I will leave that out of this story for now too. I will leave the update of the Ethereum network out of it too, but if you want to read more, there is a lot to read on www.ethereum.org. This is, for all you visual people, what a block looks like:

[Ethereum ](www.ethereum.org)

Check out this post by V. Buterin https://github.com/ethereum/wiki/wiki/Problems/89fd07ffff8b042134e4ca67a0ce143d574016bd he goes into details about real world problems that could be solved with blockchain.

{ "name": "Basic Web3 User", "version": 1, "description": "Onboarding new developers into the Web3 space", "website": "https://www.ethereum.org/", "twitter": "fjun99", "tasks": [{ "name": "Have a wallet address", "description": "You need a wallet address to enter Web3 universe.", "points": 100, "verifier": "active-address" }, { "name": "ENS: Ethereum Name Service", "description": "Register your ENS name at https://ens.domains/ with a reverse lookup.", "points": 100, "verifier": "ens-reverse-lookup" }] }

I really like the look and colors of www.ethereum.org. Especially the guy screwdriving the shit out of that machine.

and many more

[1] https://github.com/DeFiOptions/DeFiOptions-core

Not yet. For now the project "alpha" version is only deployed on Kovan testnet, in which ETH is free.

When I started coding this project ETH price was around US$ 500, and gas prices around ~40 Gwei, making it feasible to launch the project on mainnet without much hassle using my own funds.

Since then ETH has gone up to the roof. Now ETH is ~US$ 1900 and gas price ~150 Gewi, making it 14x more expensive to launch.

I'm still evaluating if I should launch on ethereum mainnet or in a different solidity compatible blockchain (ex: Binance Smart Chain, Avalanche) once the project reaches a beta version due to the cost of deployment.

In the project main page I ask for donations for covering deployment costs [1], but so far I was unable to secure any funds.

[1] https://github.com/TCGV/DeFiOptions#support-mainnet

https://github.com/TCGV/DeFiOptions#kovan-addresses

Thanks man!

Had to read about what Numeraire[1] means for answering, didn't know that concept!

My approach was to treat all accepted stablecoins as having the same value pegged to the USD.

Upon depositing tokens a conversion is made to normalize the address balance, since different stable coins may have different decimal places in their representation.

You can see this code here in the "depositTokens" function of the "CreditProvider" contract:

- https://github.com/TCGV/DeFiOptions/blob/master/contracts/fi...

The "token conversion rate" is applied in line 85 to the deposited value.

[1] https://en.wikipedia.org/wiki/Num%C3%A9raire

https://github.com/TCGV/DeFiOptions#get-involved