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Jason
@chaskin.eth
Aave is my favorite defi app It’s a lending platform that created a new type of loan that didn’t exist before and couldn’t without objective programmable money It lets you borrow against your highly liquid digital assets in just a few clicks, no questions asked. I already use it from time to time - most recently to get some cash to buy my dad a tennis ball machine and to take leverage on ETH
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Kieran Daniels 🎩
@kdaniels.eth
Would love to have you as a Teller.org user :) Time based, oracle-less borrowing. No margin calls. It’s basically what ETHlend was which was the precursor to Aave.
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Jason
@chaskin.eth
Can you give me a TLDR on how it works pls?
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Kieran Daniels 🎩
@kdaniels.eth
For sure thanks for the reply! It’s fairly simple, peer to peer lending. The lender sets custom terms (apy, duration, LTV, etc) and then anyone can borrow against that offer by escrowing their collateral into Tellers smart contracts. The only way a borrower can be liquidated is if they don’t repay their loan on time. Borrowers can repay at anytime or rollover their loan to extend the duration, but most of it is short term loans 1, 3, 7, 30 days. Here is quick primer: https://x.com/useteller/status/1711796103652462871?s=46
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Jason
@chaskin.eth
Makes sense thanks! Will keep you guys in mind the next time I need a short term loan
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Kieran Daniels 🎩
@kdaniels.eth
Thanks man! Also if you ever need liquidity on a specific asset hit my DMs we have a network of supportive LPs
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