Super collateral needs super tools. Your primary tool is Bitcoin multisig. 🧵nitter.it/hodlhodl/status/1593339553426948097
1032 sats \ 3 comments \ @P2P_bitcoin 18 Nov 2022 bitcoin
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10 sats \ 0 replies \ @P2P_bitcoin OP 18 Nov 2022
The link for this post uses a read-only front-end for Twitter, which can be easier to read for viewing a full Twitter thread. The Tweet that kicked off the thread is:
#Bitcoin is super collateral!
Use Bitcoin to borrow against it and NOT to earn yield with it. Super collateral needs super tools. Your primary tool is Bitcoin multisig.
A THREAD 🧵
https://twitter.com/hodlhodl/status/1593339553426948097
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25 sats \ 0 replies \ @takaponka 18 Nov 2022
If you are interested in borrowing against tour bitcoins, you should take a look at zero protocol on RSK bictoin merge mined sidechain.
https://www.sovryn.app/zero
You can borrow dollars against your Bitcoin, only 0.5% origination fee. You don't have to pay back your debt if you don't want to. You can borrow until 110% collateral ratio, below you will be liquidated. Your collateral on the contract can only be unlocked by your own keys and noone else, no third party.
The risks are the peg of RSK sidechain, basically it's a multisig federator, it needs improvements. For now some maxis can rightly argue it's not decentralized enough.
For me it's a good alternative to hodl hodl.
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0 sats \ 0 replies \ @selfish_gene 18 Nov 2022
мы его используем в ручном формате как тестовый вариант договора.
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