No credit checks, no approval required—how do you borrow money in DeFi?
On-chain lending has no credit checks, and borrowers are just anonymous addresses. Protocols can only reduce the risk of bad debt by requiring collateral worth more than the loan.
My past self: Dive in first, figure it out later. Me now: Read the manual first.
Knowledge can help you avoid some pitfalls, but it can’t replace risk management.
$AAVE 167.37 (-0.4%)
#AAVE
Just a little record, not financial advice.
On-chain lending has no credit checks, and borrowers are just anonymous addresses. Protocols can only reduce the risk of bad debt by requiring collateral worth more than the loan.
My past self: Dive in first, figure it out later. Me now: Read the manual first.
Knowledge can help you avoid some pitfalls, but it can’t replace risk management.
$AAVE 167.37 (-0.4%)
#AAVE
Just a little record, not financial advice.