We are almost ready with our asset-backed lending product

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Hello, hodlers!

We have a new person working on our product’s front-end. Hari Shyam is a full-stack developer, UI designer, and entrepreneur from Chennai, India. We welcome Hari to the Bank of Hodlers.

Our product is almost ready and will be available to test this weekend.

For the Lender

  • You can create a wallet, deposit your crypto and start earning interest on your deposits.

  • The interest rate is dynamic and will be updated to you every week.

  • Right now, we are starting with the option of earning interest on 4 major tokens.

  • We intend to open up lending for the top 10 major tokens in the next couple of weeks.

For the Borrower

  • We are opening up the option of borrowing a stablecoin (DAI) against Ethereum which is built on top of the MakerDAO protocol.

  • With a governance fee set by MakerDAO without taking any middleman fee, you will have the option of taking a loan at the click of a button.

  • We intend to facilitate bank transfers in the U.S. in the near future. You will also have an option to import an existing CDP from the MakerDAO CDP portal and manage the same on the Bank of Hodlers platform.

  • We will be opening up borrowing across Bitcoin, Ethereum, DAI, TrueUSD and the other major cryptocurrencies in the next quarter while also facilitating USD transfers for U.S. citizens.

Why MakerDAO?

MakerDAO as a protocol has revolutionized lending against Ethereum by reducing the cost of capital significantly. We intend to give our customers the best rates while staying true to our vision. Therefore, an implementation with MakerDAO helps our users to get capital at low costs.

We’d like you to go ahead and test our product when it is available, and bring to our notice any bugs or issues that you may come across. You can be the first to test our product by joining our waitlist here.

We will consider all responses and try to solve these issues at the earliest. We look forward to seeing you on our platform.