hodlhodl non-custodial lending

[void]

https://lend.hodlhodl.com/

anyone here already used this platform for non-custodial bitcoin-backed lending? share your experience pls

 

[JohnnyDoe]

Never used it, rates are quite high though.

 

[void]

there are no rates... it's between both parties
unless you mean the platform fee of 1% or 1.5% .... in which case I agree

 

[JohnnyDoe]

there are no rates... it's between both parties
unless you mean the platform fee of 1% or 1.5% .... in which case I agree

Here you see the current offers: https://lend.hodlhodl.com/offers/borrow?pagination[offset]=0&sort[by]=amount&sort[direction]=desc

 

[void]

Here you see the current offers: https://lend.hodlhodl.com/offers/borrow?pagination[offset]=0&sort[by]=amount&sort[direction]=desc

ahh, ok, now I get it

 

[W Fish]

I have used it, I am actually.
The offers are ridiculous, most users actually do not understand what they are doing.
Liquidity is low and size of offrers is small.
But depending on your goals, it might be possible to achieve them by submitting your own offers.

If borrowing is your aim, then IMO debifi is much more liquid, although interest starts @ 14%

Ask, if you have specific questions. What do you have in mind?

 

[void]

I have used it, I am actually.
The offers are ridiculous, most users actually do not understand what they are doing.
Liquidity is low and size of offrers is small.
But depending on your goals, it might be possible to achieve them by submitting your own offers.

If borrowing is your aim, then IMO debifi is much more liquid, although interest starts @ 14%

yeah, it's a mystery... BTC is the best, safest, easiest to liquidate, fully programmable contracts.... I would expect 5-10% - but I guess those who understand it prefer using their money to buy BTC and hold rather than lending

Ask, if you have specific questions. What do you have in mind?

can you briefly describe the steps and what you have to have and do?

did you already repay or get repaid (depending on what you do?)

do they somehow automate/make easier rolling over the loans to support long-term borrowers?
thx

 

[W Fish]

yeah, it's a mystery... BTC is the best, safest, easiest to liquidate, fully programmable contracts.... I would expect 5-10% - but I guess those who understand it prefer using their money to buy BTC and hold rather than lending

Exactly.
There is a niche that are the potential lenders and the founding father of both Hodlhodl and debifi hinted to it once when he talked where the liquidity of debifi is coming from. These are (Swiss, (non fractional reserve)) bankers who themselves understand BTC but are forced to hold customers funds in fiat. In a bit the same way as material for short selling is coming on the stock market.

can you briefly describe the steps and what you have to have and do?

become a user. they are not interested in your persona, it is password + 2FA based.
then you can submit own offers or take existing ones
entering a contact:
- you create a multisig with the collateral amount by signing it from both sides (another pw). This pw becomes critical as is the only thing that gives you access to your funds.
- borrowing side provides addresses for receiving the loan and for repaying the collateral
- lender provides address for loan repayment and collateral transfer in case of default and tranfers the loan amount
the addresses for future payments can be changed later.
in general it is a LOT of pw-s and entering them

did you already repay or get repaid (depending on what you do?)

nope.
i was aware of it fot some time but it only came to my interest again only lately when i was looking for additional means of shorting fiat.
I have only borrowed stables. i dont have enough balls to lend stables as this means going long on fiat and there are enough offers far lower than my interest starts anyway.
nobody wants to borrow btc

do they somehow automate/make easier rolling over the loans to support long-term borrowers?

nope. it seems that after creating debifi, the interest of developers has shifted there

cheers,

 

[JohnnyDoe]

I can’t find any non custodial lending solution with decent rates.
Sub-10% loans are possible with various providers.
For example I have used Wirex without any issue.

Does anybody have experience with Salt? https://saltlending.com/business/

 

[void]

I can’t find any non custodial lending solution with decent rates.

the cheapest is probably FireFish with their own funding provided by the platform

Sub-10% loans are possible with various providers.
For example I have used Wirex without any issue.

all custodial though - it doesn't mean that non-custodial platforms are risk free... just a different level of dependency

I have only borrowed stables

I wonder what would happen regarding the contract if USDT I borrowed is no longer operating (not sure how likely it is in 1 year time frame but something that pops in my mind...)

 

[W Fish]

I wonder what would happen regarding the contract if USDT I borrowed is no longer operating (not sure how likely it is in 1 year time frame but something that pops in my mind...)

Covered under dispute resolution there: https://lend.hodlhodl.com/terms_of_service

 

[cryptofriendly]

I have used my BTC as collateral on a bigger plattform for a 7.5% USDT P2P loan, max 80% LTV.
Not the best rate, there are SOMETIMES better options like AAVE, but I don't need to wrap it up and it's easy to deal with, repay - renew - without any transaction costs, and the rate is fixed for 30 / 90 / 180 days. And I am making >40% with that capital, so the borrow interest rate doesn't really matter so much in the end, as long as it's below 20%.

Thorchain looks very interesting, but it's all loaned out, and I haven't seen any opportunity to take part.

Honestly, I have been eying hodlhodl for years now, but my gut feeling is telling me to stay away.
But they still exists, so I have been wrong about it until now. But who'd I trust but my gut?

 

[JohnnyDoe]

I have used my BTC as collateral on a bigger plattform

Which one?