[diveanon]

It was on Aave polygon.

There are no repayment terms per say, just interest charged on the loaned amount.

Aave has variable interest on stables that varies between 7-4% and they offer an incentive bonus of about 3% MATIC, making the effective rate 1-4%.

My loan to value rate is around 35%, which gives me a very healthy liquidation buffer in case the market gets even more volatile.

My collateral is mostly BTC and ETH, with smaller holding of MATIC and AVAX.

It’s a really nice system, I get to keep my crypto holdings and extract real world value. Paying 1% interest on a loan backed by assets that are appreciating 100% a year feels really good.

As an additional safety precaution I wrote a smart contract to liquidate some of my other positions if I am ever at risk of being liquidated by Aave to avoid the liquidation penalty.

[iskander]

Clarification for confused outsiders: crypto loans are over-collaterized using crypto assets. In case of non-payment, Aave won't come try to collect your house, instead they'll just keep some other crypto that you put up as collateral.