@lendasat
10,276 sats stacked
stacking since: #598617longest cowboy streak: 4
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(UX) p2p #Bitcoin-collateralized loans
217 sats \ 0 comments \ @lendasat 19 Aug bitcoin
0 replies \ @lendasat OP 15 Aug \ on: Introducing: Escrow-Less Bitcoin-Collateralized Lending bitcoin
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.
21 sats \ 1 reply \ @lendasat OP 14 Aug \ parent \ on: Introducing: Escrow-Less Bitcoin-Collateralized Lending bitcoin
This new paper introduces a protocol that would work without Ark.
21 sats \ 1 reply \ @lendasat OP 14 Aug \ parent \ on: Introducing: Escrow-Less Bitcoin-Collateralized Lending bitcoin
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
102 sats \ 3 replies \ @lendasat OP 14 Aug \ parent \ on: Introducing: Escrow-Less Bitcoin-Collateralized Lending bitcoin
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!
Introducing: Escrow-Less Bitcoin-Collateralized Lending
2202 sats \ 13 comments \ @lendasat 14 Aug bitcoin
Have you ever borrowed against your Bitcoin?
34 sats \ 1 comment \ @lendasat 19 Jul bitcoin
13 sats \ 0 replies \ @lendasat OP 14 Jul \ parent \ on: Building Lendasat on ARK - Introducing DLC VTXOs bitcoin
Unless you borrow and repay some USD-denominated amount of bitcoin. That would make more sense. And it is probably something like it, since we have an oracle in the system.
Yes, this is how it works. The loan you take is USD-denominated meaning the exact sats amount will vary.
13 sats \ 0 replies \ @lendasat OP 12 Jul \ parent \ on: Have you ever borrowed against your bitcoin to get goods or cash? bitcoin
Lendasat aims to make it as simple as paying a lightning invoice for instant bitcoin-collateralized loans.
To buy goods, groceries or get cash...
#602605
Learn more at https://www.lendasat.com
13 sats \ 1 reply \ @lendasat OP 12 Jul \ parent \ on: Have you ever borrowed against your bitcoin to get goods or cash? bitcoin
Lendasat is a bitcoin only product.
"A tool is only as good as the person using it"
33 sats \ 4 replies \ @lendasat OP 12 Jul \ parent \ on: Have you ever borrowed against your bitcoin to get goods or cash? bitcoin
Lendasat is building a non-custodial solution, with no counterparty risk.
13 sats \ 1 reply \ @lendasat OP 12 Jul \ parent \ on: Have you ever borrowed against your bitcoin to get goods or cash? bitcoin
Thank you for your insight.
Our goal is to create the best user experience while offering an instant and non-custodial service.
A 19% interest rate seems quite high; a market-driven interest rate would likely be more reasonable.
Have you ever borrowed against your bitcoin to get goods or cash?
273 sats \ 23 comments \ @lendasat 12 Jul bitcoin
13 sats \ 0 replies \ @lendasat OP 11 Jul \ parent \ on: You've hodled long enough. Start living. bitcoin
Lendasat is a Bitcoin-only product.
Your invoice is instantly paid with Bitcoin, and the repayment is made in Bitcoin.
No fiat or stable coin involved.
13 sats \ 1 reply \ @lendasat OP 11 Jul \ parent \ on: You've hodled long enough. Start living. bitcoin
There is going to be an originator fee of 1-2% and an interest e.g. 1% on the loan. The originator fee is only to be paid once and the interest is to be paid on a monthly basis.
Is there going to be some sort of calculator?
We don't have one yet, but if you search for loan calculator you may find many useful resources.