Discovering Over-Collateralized Lending with QiDao
Most people’s relationship with crypto is buying and holding their funds on an exchange such as Coinbase or Binance. However, users are increasingly sending their digital assets on-chain to stretch in the world of decentralized finance (or “DeFi” for short.)
DeFi found its informal roots in a project called MakerDAO, which launched four years ago and allowed users to take out loans against their “collateral” (at first, Ethereum, but later, many other collateral types.) However, MakerDAO only operates on Ethereum. If you want to do this on other chains, you’ll need to find something like it.