moonwell will be so obvious in hindsight

a team of phoenixes building on the superchain 

proof that nothing can replace grit and perseverance

moonwell will be so obvious in hindsight

a team of phoenixes building on the superchain 

proof that nothing can replace grit and perseverance

https://moonwell.fi/discover

lore @optimism | ex: @coinbase & crypto twitter | views are my own | oncha↑n summer 

Little confused on this one

Traditional lending allows you to lend with colleteral (house, car) and keep using it while the lender has the right to seize the asset in case you fail to make payments.

Here you supply 1000$ USD, and lend 600$, giving you 600$ for your 1000$

Does that deposit amount stake or something?

Acting Director of Galactical Onchain Customs Agency (GOCA) - Now Hiring Recruits!

Yes, but in their website theh stake USDC to get USDC with a 60% rate. ETH/USDC is understandable, but stable to stable got me confused

Consider if you collateralized your staked ETH for USDC pegged to the dollar. 

Using your numbers, lets say you gave $1000 worth of wETH and borrowed $600 USDC. 

With overcollateralization, the protocol is better protected in case of market swings. Otherwise, your collateral may become worth less than the loan.