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“So for the credit delegation, imagine you have $100k principal deposited in Alchemix, making 10% annually,” wrote pseudonymous Alchemix core contributor Scoopy Trooples in an interview with CryptoX. “That would be $10k in income, or ~$850 a month. That $850 could be delegated to paying for subscription services, payments to
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A flowchart included in the proposal shows six entities: SocGen; SocGen Forge; the MakerDAO protocol; The DIIS Group that will serve as a “security agent,” a requirement under French law to enforce the terms of the loan on the real-world side on Maker’s behalf; an as-yet unappointed MakerDAO legal representative;
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NFT and decentralized finance (DeFi) asset owners who are interested in putting their assets to work and intend to maximize passive returns without having to sell their holdings may be able to leverage them as collateral. They may use the funds acquired to benefit from arbitrage opportunities, purchase another asset with
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Derivatives exchange Bitget is set to become one of the first exchanges to list USD Coin (USDC) as collateral for trading crypto derivatives.The development comes courtesy of a strategic collaboration between the Singaporean crypto derivatives trading service and USDC stablecoin issuer Circle, as reported by Crowdfund Insider on Monday.Bitget will
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United States-based crypto lending platform Nexo is facing a class-action lawsuit over suspension of XRP services on Dec. 23, 2020. Lead plaintiff, California resident Junhan Jeong submitted the complaint on April 1. The complaint accuses Nexo of breaching its user agreement by suspending the use of XRP as loan collateral
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Babel Finance is letting bitcoin mining firms put up their machines as loan collateral so the lender can offer them better terms.The loan-to-value ratio (LTV) for these loans is 30%, in part because Babel keeps the freshly mined crypto until the borrower pays back the loan. The LTV is significantly
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The cryptocurrency industry has come a long way since its inception, as the underlying technology undergoes constant evolution.
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The MakerDAO community has voted to add support for a trio of new tokens for the decentralized finance (DeFi) loans that generate DAI stablecoins.Vaults are now open for deposits of Chainlink’s LINK, Loopring’s LRC and Compound’s COMP. Community members pitched proposals to add the tokens this summer and voted for
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Unsecured borrowing has come to decentralized finance (DeFi). Aave, a DeFi money market that allows users to earn interest on cryptocurrency and borrow against it, introduced credit delegation in early July. This service allows someone with a lot of collateral deposited on Aave and no desire to borrow against it to
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The leading crypto spot and derivatives exchange platform OKEx has now started to accept the OK Blockchain Foundation’s
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