3 ms·
Can you explain DeFi loans? I used a calculator, and to take out $500 worth in one coin, it costs $900usd in bitcoin collateral, I mean if I had $900 in bitcoin
by gremlinsinc 5y ago
Can you explain DeFi loans? I used a calculator, and to take out $500 worth in one coin, it costs $900usd in bitcoin collateral, I mean if I had $900 in bitcoin, why would I need $500 and not just use the bitcoin?
- sprafa 5y agoI honestly find the thing pretty confusing myself. However the fact that it’s confusing doesn’t mean it doesn’t work. Cuban has rightfully said UX in the space is beyond awful - some of it is virtually unusable without deep instruction. My assumption there would be that you lock that bitcoin away. And you get 150% of the value of the BTC in another coin - DAI or whatever. So you might have had 1000 usd in BTC but by the end you have 1500usd in DAI ? Dunno