I was never able to try that thorchain... very complicated but I deposited Rune and left in the wallet...need to check.
I lost touch when THorchain was hacked 2ce...they took a break and then they came, but I was too busy with other projects.
I am not sure that 0% loan, is good, how on earth will they earn revenues, swap fees?... you can't borrow for free and go speculate... borrowers have to pay, else how to pay the lenders...
The app needs a solid revenue scheme...don't see that free loan thing doing good for the protocol.
I wish I sold my RUne and put it elsewhere... maybe secret and shade.
Although I agree that it was special that time swapping between assets like BTC and ETH... they should be having competition now...
That dex was for geeks, it was not user friendly...that's what I felt... hope my runes still there though... why are the fees costly if this is built on Cosmos, or is it built on ETH...
I really again need to see how they do those cross chain swaps...witneesses when I read, monitor and did it... must have changed it, that time swaps it was mentioned happened fast coz they exchanged it with like ETH to rune then rune to btc...
anyway... since I am not practically involved in the project would like to exist my holdings and explore other things like JAckal... looking forward to see how their thing of decentralised secret dapp to replace google drive and suite works...privacy storage. Anyway...
The loan is settled the moment you take it out. So the protocol has been paid and holds your collateral (they have been paid way more than what they are loaning out). It just makes it much nicer of a deal since there is no liquidations or interest.
You mean money is invested a lot on them so they can afford to offer interest free loans without liquidation. good to hear its sweet and they are covered
If you give me 2 dollars as collateral... and I give you a loan of a dollar and hold the other dollar... when you come to collect and give me the dollar back... I will have the 2 dollars to pay you back.
Thats sweet!!! thanks for putting it this way I so I see it this way!!
That is not how it works.