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Jason
@chaskin.eth
Why DeFi > Banks for Borrowing Against Assets Approval Process - Borrowing against stocks: Apply & wait for approval - Borrowing against crypto: 2 clicks Borrow More - Stocks: 50% LTV max. $10,000 in stocks → borrow $5,000 max - Crypto (ETH): Up to 80% LTV. $10,000 in ETH → borrow $8,000 max Interest Rates - Stocks: 11.375%-12.825% (Schwab), compounds daily Crypto: 1.71% (cbBTC) 2.43% (ETH) 5.54% (USDC) (Aave/Base), compounds continuously Flexibility - Stocks: Rules on what you can & can't do with borrowed funds - Crypto: No restrictions. Borrow for anything Global Access - Stocks: Limited to certain regions. Only 9-5 - Crypto: Available 24/7, anywhere in the world
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Kieran Daniels 🎩
@kdaniels.eth
Would love to get your opinion on Teller.org :6 P2P time based lending, no price oracle, no margin calls. Up to 30 days. Repay or extend at anytime. It’s basically what ETHLend was before Aave, but we figured out how to scale it. Our biggest power user profile is people who have leverage options open on Aave or Compound and then when the market dips they use Teller to borrow against their holds, get USDC without margin call risk, repay health ratio %, save leverage position on Aave = repay reborrow.
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Jason
@chaskin.eth
Let me get back to you on this. Will check it out
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Kieran Daniels 🎩
@kdaniels.eth
I think we chatted before now that I clicked your profile! Last year Teller didn’t really have pmf and we had about $2m in borrow volume. In the last 12 months we have figured it out and we just hit $20m borrow volume. The lending side is hard to use currently, the offers expire each time you make them (i.e. 7 day loan offer expires after 7 days) so it’s harder to actively manage. We have been building a pools system for the last 9 months and the audit finishes tomorrow. This will make it standing pools so anyone can just dump money in and the APY will be a legit 40-60% on average. It’s basically options, the lender sets the terms and duration and LTV ratio and then if the borrow doesn’t repay the lender collects 100% of the collateral.
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Kieran Daniels 🎩
@kdaniels.eth
Oh here is the new borrow flow front end atm.teller.org
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