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by xtracto 1765 days ago
>Can I get a loan without 100%+ collateral yet

This is quite common in trust less scenarios. We call them pawn shops or "empeños' in México. They are one of the most important lending instruments over here given the high default rates and lack of legal means to get money back for a non-collateralized loan.
1 comments
gjulianm 1765 days ago
Except that in this case, the collateral needs to be actual money. While in real life you can give someone a physical thing, you can't give it in the virtual world (and NFTs do not matter here: if I have the NFT title to your house but I can't evict you from it and sell it, it's useless).

These DeFi loans are less useful than pawn shops. That's the point they're at right now.

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