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0 sats \ 2 replies \ @lendasat OP 18 Nov \ parent \ on: A Deep Dive into Escrow-less Bitcoin-Collateralized Lending bitcoin
We're unlocking and showcasing the true power of the best form of cash and the best collateral ever invented.
People are already doing that using custodial solution, we're bringing a solution for a trustless execution ;)
We're not giving anything to anyone; we're simply addressing an existing market need (with huge volumes) while making transactions safer and more secure, eliminating trusted third parties and counterparty risk. All of this is made possible by Bitcoin, the best form of programmable cash in the world.
BTW It will actually help a lot of people using custodians not to get scammed!
We're starting with stablecoins since it's the most liquid market right now, but it could expand to whatever in the future.
And for the Bitcoiners who are allergic to stables, I have a feeling they might soon be able to get Visa cards đ
We're not giving you anything since the protocol is P2P.
We can't blame you for not knowing this â it required reading, not just ranting from the start.
CORRECTION:
As @supertestnet correctly points out in #648625, the protocol we propose is not trustless. The linked whitepaper does not claim such a thing, but our original post here used the word "trustless" incorrectly.
A DLC-based protocol necessarily involves an oracle, which acts as a trusted third party.
Sorry for the mistake.
We're addressing an existing market need by providing a solution to minimize risks for users. This way, users can still borrow against their Bitcoin while maintaining control over it.
"If you don't believe it or don't get it, I don't have the time to try to convince you, sorry."
- Satoshi Nakamoto
Good to know that you're not our primary target for this product.
People are massively using trust based and centralized/custodial services, we're offering an alternative!