Hey Degens
Busy markets on @astaria today!
Someone wants to borrow 3,000,000 $DEGEN on Astaria (over 19k USD!)
25% APY atm

Who's up to fill the task?

Mission: instant liquidity for any on-chain asset

astaria.xyz

Marketing/Growth at @Astaria. Girl father.
Crypto class of 17. 
Former ETHBerlin and Ethereum Rio.
Ad Astra. 🚀

Rio de Janeiro, State of Rio de Janeiro, Brazil

wait this is someone who is offering to loan degen right? not wants to borrow. they want 10WETH as collateral (at 61% LTV). they are charging 25% apy. it would say 'LOAN 3,000,000 DEGEN' if it was the other way round. or am I wrong?

I think you’re right. Doesn’t seem like a good thing.. am I wrong?

Head of Growth: Webx, CoinPost, Motto: Learn/Build/Share. Web3 builder - building /farthercast 

https://farthercast.xyz

Don't think it's good or bad really (and the token itself doesn't matter much given how easy/cheap swaps are). I don't know much about Astaria/how decentralised it is but big volume itself (i.e. actual borrowing/lending) would be good. Not necessarily from a risk appetite perspective, more because it is just such a good, clean use case for blockchain. This is basically just permission-less banking. Someone wants to borrow money; someone wants to lend money (and earn interest). Been happening for centuries. Smart contracts allow this to happen with a microscopic/zero fee (vs the comedically large cuts a bank would take). I'm no anarchist but this is why I love blockchain stuff - the efficiency it unlocks.