/biz/ - Business & Finance

[Anonymous No.28665130]

is it possible to lend and borrow monero on some sort of decentralized exchange?

[Lefty Bizraeli No.28665208]

>>28665130
Liquidity mine wrapped monero on uniswap

[Anonymous No.28665504]

>>28665208
maybe this is too big brained for me but if you wrap monero doesn't that defeat the privacy feature because it being publicly recorded on the other blockchain?

[Anonymous No.28665909]

>>28665504
here for replies

[Anonymous No.28666680]

>>28665130
why would anyone lend crypto to anonymous people

[Anonymous No.28667032]

>>28666680
Because the borrower has to deposit some crypto to be used as collateral if they don't pay

[Anonymous No.28667209]

>>28665130
>lend money anonymously to strangers whose identities you can't know
>what could possibly go wrong?

[Anonymous No.28667257]

>>28665130
that's literally what AAVE is for

[Anonymous No.28667303]

>>28665130
Ren said its possible to add but hasnt started the process. What needs to be done is a monero developer add the commit to ren multichain and i think you'd find it on defi in no time. Its a technically difficult issue, rather than one people are ignoring.

[Anonymous No.28667399]

>>28667032
what's the point of borrowing money if you have to put up money as collateral?

[Anonymous No.28667551]

>>28667399
What? Sir normie, id argue only collateralized loans are ethical. Noncollateralized loans are peak usury.

[Anonymous No.28667796]

>>28667399
I used to think the same until someone explained how it works. I'll give you an example using BTC. BTC price = 50k. You put up 1 btc as collateral. You get HALF of its value in fiat as a loan. If you don't pay it back then you lose your btc but assuming your able to pay it back, you got a loan while letting your crypto appreciate, instead of having to sell it.

[Anonymous No.28668218]

>>28666680
>>28667209
when you put your money in a bank you're money is being lent out to people you don't know.

>>28667257
they have monero on avve?

>>28667399
in this case people want the appreciation of an asset while having the liquidity for spending. For example if you want to source a product right now you can put up your crypto for collateral spend half paying a manufacturer, make a 20% profit on the sale and pay back your loan, all while your coins still went up in value.

>>28667303
good to hear

>>28667551
like it or not I think one day we'll have traditional style loans in crypto with smart contracts making it easier to determine credit worthiness, track funds, and offer insurance for defaults

[Anonymous No.28668488]

>>28667796
Interesting. In a way this is almost like shorting btc. If I put up a btc in collateral and it crashed to $10, my loan is free and clear.... otherwise I simply pay it back steadily while my btc moons. How do I do this.

[Anonymous No.28669411]

>>28668488
unfortunately most of the lending platforms I know of liquidate your position if the price goes down too far, thus its either useless or you just have to have enough in as collateral and take out a low enough percentage, say 10-20%, that you know won't get liquidated even if the market crashes. Right now theres nexo, blockfi, celcius, and if you want decentralized theres aave.

[Anonymous No.28669586]

>>28668488
>>28669411
I think bao, maker, compound and synthetics might also let you do that but I really know nothing about them

[Anonymous No.28669745]

>>28665130
Isn't it better to just stake ADA?

[Anonymous No.28670186]

>OH BOY THIS COIN CERTAINTLY DOESN'T FUND DRUG DEALING OPERATIONS, TERRORISM AND ANTI-GOVERNMENT OPERATIVES NO ONLY HONEST HARDWORKING MOM AND POP TYPE INVESTORS