You can now lend/borrow $Algo on Solana!
2022-10-17
36 Comments
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Mc_Shame
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+3
·
2 days ago
Just don't fucking use Solana
😂
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Excellent_Sound_9722
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2 days ago
isn’t solana down ?
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Mc_Shame
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1 day ago
Isn't it always?
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Hannah_starz
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2 days ago
You’ll have like a 5 minute window a week to do so without it being down.
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Nutbox_DAO
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2 days ago
Lol
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phuck_round_find_out
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2 days ago
Even when Solana goes down? Maybe 1 day solana users will prefer to buy solana on algorand since algo doesn't go down
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WinterWolfstock31
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2 days ago
Whahahahaha you don't have to tell Solana users the truth mate hahaha
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Taram_Caldar
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2 days ago
Ummm... Not sure if you've been paying attention for the last year and a half
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VIDGuide
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2 days ago
If those Solana users could read, they’d be very upset right now..
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alexxosk
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2 days ago
We just have to spread to word I guess, probably they do not have any clue about the (big) improvements if they would move to Algorand...
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EinsteinsPetAlien
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2 days ago
If people want to buy $Algo on Solana it will still increase buying pressure, even though the choice is very dubious.
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Dependent-Recipe6820
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2 days ago
Why tho?
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Nutbox_DAO
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·
2 days ago
To draw Solana users to Algorand
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ZiltoidM56
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2 days ago
That sounds like a disaster waiting to happen. I don’t know how anyone can trust Solana.
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saswordd
·
2 days ago
Who wouldn't be excited that we can look forward to flash loan attacks on algo, I'm sure there's nothing to worry about with the security and stability experts on Solana
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Benderova
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2 days ago
Why would you want to downgrade to Solana?
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Nutbox_DAO
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2 days ago
No we're upgrading Solana users to Algorand
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Benderova
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2 days ago
Oh! I misunderstood.
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Nutbox_DAO
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1 day ago
🤝
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brobbio
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1 day ago
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edited 1 day ago
Why? This is utilization. Means people want Algorand to play with/use. Means they find it valuable or useful for their gains/purposes. It doesn't matter at all If it's on solana, cardano or something else. Means there's request for algo and that's good.
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JollyFaithlessness3
1 Year Club
·
2 days ago
What is the point? The only reason I don't mind seeing Solana ($xSOL) on Algo is that I can short it on fxdx.
What benefit would there ever be of having a wrapped $ALGO on Solana?
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Fresh-Chemical-9084
Monthly Top 5% Karma
+2
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2 days ago
The crypto world is turning interchain. This is a step towards that.
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JollyFaithlessness3
1 Year Club
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2 days ago
Wrapped coins are not interoperability. It’s an IOU that you are trusting a 3rd party to hold onto the original collateral.
How does lending and borrowing a wrapped version of ALGO on Solana benefit ALGO? If anything it opens a bridge to bring ALGOs liquidity over to Solana. We already had a bridge from Solana to Algo.
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warmbookworm
Monthly Top 1% Karma
+2
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2 days ago
that's like saying your money in a bank isn't your money, it's an IOU you are trusting a 3rd party to hold onto the original collateral.
It's not a perfect trustless thing (and heck, glitter seems sketchy af and I would stay away from it with a 10 ft pole), but it doesn't mean that it's not interoperability.
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Onaip314
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2 days ago
So that people are able to buy it.
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JollyFaithlessness3
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2 days ago
That’s a stupid reason. They can already buy it. On Coinbase, on Binanace, there are plenty of accessible places for people to buy Algorand already.
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Taram_Caldar
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2 days ago
A lot of people don't use exchanges unless they have to. This is a good thing
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JollyFaithlessness3
1 Year Club
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2 days ago
I’m not saying it’s a bad thing, I’m saying “what’s the point.” Clearly some of you haven’t spent much time talking to SOL people. They aren’t going to take this as an opportunity to switch to ALGO they are too stubborn lol
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Taram_Caldar
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2 days ago
Talking to (insert random fanboy group) people is never conducive. Real investors like to diversify and most defi folks prefer using dexes. It's a good thing to have more avenues for adoption. The point is that someone saw a benefit. That's why.
As an OG investor I'm happy to see it.
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Onaip314
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2 days ago
You ever considered the fact that people hold more than one coin. I hold SOL and ALGO. I suspect that I'm not the only one.
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kinetic49
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2 days ago
Yeah don’t use Solana.
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-Skald
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1 day ago
This is going to result in a lot of ALGO getting burned.
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brobbio
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1 day ago
·
edited 1 day ago
Interesting. Could you expand on that? Thank you. I don't think Algo can be "burned" like that and maybe you meant something like "locked" in some contract and exchanged for an algo token on Solana and not exchanged back?
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-Skald
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1 day ago
I'm saying I don't trust Solana, so i think there is a risk that ALGO held on contracts or a tokens on Solana could end up going bye bye and be "burned" when SOL fails.
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brobbio
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1 day ago
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edited 2 hr. ago
Yeah, I understand. For now, that's just a theoretical risk. Apart SOL frequent problems, there won't be any impact on Algorand even if some million Algos got blocked forever there. To have a real impact on price or usability there need be at least... dunno... a billion Algo blocked on a faulty or abandoned smartcontract?... Won't happen. Don't you think so?
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