原推:Am I shocked that “floor price” is being used as a measure of collateral value for a defi lending protocol?
I can’t decide
Simultaneously obvious and obviously flawed https://t.co/hmTBm2rsUl
2. So how do the loans work?
Most NFTs are collateralized at 30-40% of floor value
So if I take a loan on an ape at 100E floor I can expect to receive a 30-40e loan at a 15-25% interest rate
Cool right?
Until it’s not.