Has anyone had experience with such services?
Is it still an interesting business model to build from scratch today?
Is it still an interesting business model to build from scratch today?
Crypto collateral loan?
- Thread starter Alex Braun
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Yes
I gess it depends on what your goal is:
* developing the backend - probably not, if you are asking this question here
* marketing the tech as a service - same answer as previous. But if you see a market of lenders / borrowers, this can be possible. The product is ready and the market is huge on both sides.
* becoming a lender / borrower - sure
cheers,
I gess it depends on what your goal is:
* developing the backend - probably not, if you are asking this question here
* marketing the tech as a service - same answer as previous. But if you see a market of lenders / borrowers, this can be possible. The product is ready and the market is huge on both sides.
* becoming a lender / borrower - sure
cheers,
yep, I'm aware, I tried to get some feedback on Debifi in August but no luck https://www.offshorecorptalk.com/threads/experience-with-debifi.45844/ - mind you share something?
I took a loan there not too long ago. Worked smoothly. The tech is solid IMO.
I think their plans were a bit ahead of real life, as usual but it is working. I know they are working on getting more lenders.
My observation is that the market is not very active but seems interest is slowly going down.
cheers,
I think their plans were a bit ahead of real life, as usual but it is working. I know they are working on getting more lenders.
My observation is that the market is not very active but seems interest is slowly going down.
cheers,
can you please share (at least some) parameters of the loan - length, interest rate, LTV, ...
how does installment plan work?
what was the process of locking the collateral?
how does installment plan work?
what was the process of locking the collateral?
I took for a year, relatively small amount, mostly to try it out.
The available periods at the moment are 1-12 months.
Interest range 14-22% (APR).
LTV 50-70%
Available amounts 20 - 500K
Everything is due at the end of the loan period, no installments.
But you CAN pay back any amount any time, no penalty for that and LTV goes down.
You are required to make additional payments if collateral value decreases.
No way of pulling collateral out before end if collateral value increases or partial payback. In case of full payback - yes, of course.
They generate a 3 of 4 multisig and︀ you sign it and then just do the transfer. 1 key to lender, 1 borrower,︁ 1 debifi and 1 independent holder that acts as moderator in case of need.
they announced it this summer:
another video, where it is explainde well:
If something else, just︂ ask - happy to help. But you can make a user and check it out︃ yourself...
cheers,
The available periods at the moment are 1-12 months.
Interest range 14-22% (APR).
LTV 50-70%
Available amounts 20 - 500K
Everything is due at the end of the loan period, no installments.
But you CAN pay back any amount any time, no penalty for that and LTV goes down.
You are required to make additional payments if collateral value decreases.
No way of pulling collateral out before end if collateral value increases or partial payback. In case of full payback - yes, of course.
They generate a 3 of 4 multisig and︀ you sign it and then just do the transfer. 1 key to lender, 1 borrower,︁ 1 debifi and 1 independent holder that acts as moderator in case of need.
they announced it this summer:
another video, where it is explainde well:
If something else, just︂ ask - happy to help. But you can make a user and check it out︃ yourself...
cheers,
AAVE operates through audited smart contracts, which have been reviewed by trusted crypto security firms and also has proven itself through time . And also you can audit the smart contracts yourself .
Debify, on the other hand, uses a private 3/4 multisig escrow solution where the lender, borrower, and escrow must each sign a transaction. While is very safe when implemented correctly , the system is proprietary, meaning you don't have access to the code︀ or full transparency like you do with AAVE. And also it opens up paths for︁ abuse https://debifi.com/dispute-rules . You are "blindly" trusting Debify that everything is implemented correctly and that︂ they are neutral in dispute resolutions . For me, it creates unnecessary centralization, which contradicts︃ the core principle of crypto for me decentralization.
Debify, on the other hand, uses a private 3/4 multisig escrow solution where the lender, borrower, and escrow must each sign a transaction. While is very safe when implemented correctly , the system is proprietary, meaning you don't have access to the code︀ or full transparency like you do with AAVE. And also it opens up paths for︁ abuse https://debifi.com/dispute-rules . You are "blindly" trusting Debify that everything is implemented correctly and that︂ they are neutral in dispute resolutions . For me, it creates unnecessary centralization, which contradicts︃ the core principle of crypto for me decentralization.
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