The crypto lender says funds are safe and that it had no exposure to Luna or embattled companies like Three Arrows Capital.
“The interest we pay on the Interest Accounts is yielded by issuing overcollateralized loans to other platform users. Hence in some instances, the estimated date of a complete withdrawal of assets from the Interest Accounts comes before, not after, loan closure,” CoinLoan stated in the announcement.
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The crypto industry needs a crypto capital market structureThe recent weeks in the markets have highlighted matters that require attention, and it seems the DeFi industry needs a sound market structure independent from the current transactional systems. An interesting perspective. Though ultimately the “elephant in the room” is whether the replication of traditional legacy finance within the context/environment of the Cryptosphere should ever have happened, given its being completely antithetical to the original Crypto ethos!? defi needs a ton of work, there's no way about it. I see Polygon and a bunch of others do a lot to help, but the path is long and winding albeit fruitful in the end. Matic's work within zk has already been commendable, and their carryover into DeFi could be a game changer That was great
Source: Cointelegraph - 🏆 562. / 51 Read more »