@pwndao
What is this?
See for yourself 👉 http://bordel.ownlabs.co
It's an over-collateralized DeFi loan with:
- fixed rate of 2%
- duration of 5 years
- EtherFi's weETH as collateral
- Circle's USDC at 75% LTV
The loan must be periodically repaid to retain its collateral; otherwise, it gets liquidated.
The credit is held in an ERC4626 vault proxy that deploys it to @aave before origination and after each installment repayment to earn extra variable yield in the meantime.
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