Anyone using one of the Defi platforms?

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Anyone using one of the Defi platforms?
Anyone using one of the Defi platforms? Like Ledn, Blockfi or Dharma. And why are using it? Are you taking loans? Lending crypto? Would love to know

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I used Dharma in both V1 and V2 for lending. V1 I had one landing match that worked well and was paid back quickly (so little interest earned), but with V2 earning interest on deposit, the matching is less of a concern. V2 also built on top of Compound.

The new contracts also require DAI, whereas V1 allowed ETH deposits which was also nice since most of my holdings are in ETH, but I’ve now opened a Maker CDP to generate DAI when needed and for lending, so it brought me further into the DeFi space.

I’ve been interested in interest generating concepts like this (as well as projects like PoolTogether) both from a conceptual experimentation standpoint, but also from a “making my crypto work for me” standpoint rather than simply hodling.

I have not used the borrowing side of DeFi as of yet as I typically hold or exchange tokens that I use.


I’m not particularly worried, mostly because I am using this to experiment at levels of investment that I can afford to lose. Certainly DeFi loans come with a much higher associated risk, no doubt about it. Right now I’m ok with it, though with higher investment I could see this causing more anxiety.

@Kris Jones

Thanks, the question is, what is so appealing lending DAI out? For me to see any appeal. I need a min 15% and to lend out at 100k min to earn on capital deployed. What I am trying to say is. Capital deployment opportunity cost. For example, as a private mortgage lender you can earn easily 15% and have collateral as the house.


Part of it for me, like I said, is earning interest on assets I’m holding already (ETH) without having to sell the asset either (locked in a Maker CDP). I don’t know that I would put down the level of capital you mention at 100k on in though.

As for the 15%, the interest rate of return varies to some extent, but has been up as high as 11% that I’ve seen. I’m not sure what the qualification requirements to qualify as a private mortgage lender, but I would guess that it would be out of reach for the general public, which would put that rate of return also out of reach.

I’m not investing anything in DeFi that I can’t afford to lose (and same with crypto in general). IMO DeFi products now are still for early adopters, but are targeted to individuals rather than large investors (though there is nothing keeping large investors from considering the platform and being involved).

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