DeFi Platform Ribbon Finance's Unsecured Lending Product Sees Crypto Firms Folkvang and Wintermute Borrow Over $10M

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Liquidity provider Folkvang and market maker wintermute_t borrowed over 10 million USDC from ribbonfinance's recently-launched unsecured lending platform Lend. Reports godbole17

"We see that there is still demand in decentralized finance for high yields. Users are willing to move out the risk curve if the risk-reward makes sense," Julian Koh, co-founder and CEO of Ribbon, told CoinDesk."Undercollateralized lending to reputable institutional trading firms seems to fit that category well."

An institution can borrow USDC from AAVE at a much lower cost but at the expense of locking another cryptocurrency as collateral. In other words, the borrower stands to lose the liquidity of the collateral locked, which isn't the case with Ribbon's Lend. "Borrowing through Ribbon is more capital efficient," Folkvang's CIO Jeff Anderson said."With the advent of Lend, Ribbon now offers a one-stop shop for the full DeFi product suite and we are proud to be pioneers on the platform."

 

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