4 ms·
ETH-collateralized loans are permissionlessly accessible on the Ethereum blockchain. Right now it's a 0% APR. https://oasis.app/borrow https://oasis.app/borrow
by spir 6y ago
ETH-collateralized loans are permissionlessly accessible on the Ethereum blockchain. Right now it's a 0% APR.
https://oasis.app/borrow https://oasis.app/borrow
You can also get a Bitcoin-collateralized loan using the same service. A Bitcoin loan on the Ethereum blockchain. But, it's less secure because the WBTC "Wrapped Bitcoin" token on Ethereum relies on a network of custodians who redeem these tokens for actual BTC.
- imtringued 6y agoWhy would anyone loan out money at 0% APR? That only makes sense if you value the ETH far more than the money. There is no way to profit from borrowers who pay the loan back. The only way you could possibly turn a profit is by speculating that ETH is rising in price and getting ETH as collateral when a borrower defaults but if that's your strategy why not buy ETH directly?
- xur17 6y agoDAI, the stablecoin produced when you loan out money is in very high demand, so Makerdao is trying to encourage more people to create it. There's a lot of demand for DAI because several protocols that use it are giving away tokens for using their platforms (governance tokens that have a tradable value).