USDC loans

[jafo]

I would advise everyone against using Thorchain, it's basically a safer version of Luna.
It will work great until liquidity disappears from RUNE's buy orderbook.
What they do isn't even loaning, they just sell your collateral to pump their coin, if you want back your collateral they will dump their coin and try to buy back your collateral.

Imagine if BTC does 10x and people want back their collateral, if it happens in the beginning of the bear market they will mint and market dump all the RUNE into empty buy orders, their coin will go near 0.
They say it's safer than Luna because there is a limit cap on the minting, but what if there is a bug and minting won't stop, also this limit doesn't solve the disappearing liquidity problem.

Although long positions on this coin in the bull market and short positions in the bear market is a good idea, but using their chain is not.

Thank you for sharing this! Good catch!

 

[JohnnyDoe]

USDT loans on Binanace today are @ 20.7%

 

[Raul78]

try Nexo, it is a nice loan plataform IMO

 

[void]

maybe I missed something in this thread but I still didn't find an acceptable solution and loan provider

giving up control over my BTC collateral to the hands of a creditor is a deal breaker... I prefer relationship based on mutual incentives over trust in one side
anyone aware of a solution where the collateral is locked in a multisig for example?
same with margin call and topping up collateral - it's inconvenient, increases complexity, brings risk of taxable events in case of force liquidation - risk of undercollateralization can be incorporated in a higher rate and lower LTV - any products like this available? fixed term (say 3 years), loan repaid - collateral released, loan default - collateral liquidated, that simple

 

[JohnnyDoe]

Binance has USDC available at reasonable rates now. You can trust it enough to deposit BTC as collateral.
For high amounts you can talk with some OTC desks.

 

[12345]

Do you think nexo.com is trustworthy enough to invest quite a lot in it ?

 

[JohnnyDoe]

Do you think nexo.com is trustworthy enough to invest quite a lot in it ?

It’s fine for loans, but remember: not your keys, not h your coins.

 

[wonderfulboy]

Have there been any horror stories already about nexo's freezing money or other troubles with them ?

Do you think nexo.com is trustworthy enough to invest quite a lot in it ?

how much do you plan to invest with them?