What’s the point of DeFi ?
If you need over 100% collateral for a loan…. Why take a loan ?
If I had say $500k and wanted to take a “CeFi” mortgage on a house I could easily purchase a $500k property and take a loan against that to buy the first house. Leaving me with 2 assets and $250k in debt. Both assets actively benefiting me and the $500k house I could easily cash flow on with a tenant.
If I had $500k in Bitcoin I’d lock it all up completely in order to borrow $250k in Bitcoin for a how long ?? And the entire time my original assets are now useless to me so I’m actively losing out on so much opportunity…
Am I just not getting this ?
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