Earn interest on your Bitcoin, Ethereum, DAI and TrueUSD. Borrow DAI against Ethereum
We are finally moving the needle with our asset-backed lending product. We will be launching our wallets, along with giving you an option to earn interest on Bitcoin, Ethereum and stable coins - DAI and TrueUSD, and the option to borrow against Ethereum.
What does this mean?
For the Lender
As of now:
You can create a wallet, deposit your crypto and start earning interest on your deposits.
The interest rate is dynamic and will be updated to you every week.
Right now, we are starting with the option of earning interest on 4 major tokens.
In the future:
We intend to open up lending for the top 10 major tokens in the next couple of weeks.
For the Borrower
As of now:
We are opening up the option of borrowing a stablecoin (DAI) against Ethereum which is built on top of the MakerDAO protocol.
With a governance fee of between 0.5% and 2.5% set by MakerDAO without taking any middleman fee, you will have the option of taking a loan at the click of a button.
In the future:
We intend to facilitate bank transfers in the U.S. in the near future. You will also have an option to import an existing CDP from the MakerDAO CDP portal and manage the same on the Bank of Hodlers platform.
We will be opening up borrowing across Bitcoin, Ethereum, DAI, TrueUSD and the other major cryptocurrencies in this quarter while also facilitating USD transfers for U.S. citizens.
MakerDAO as a protocol has revolutionized lending against Ethereum by reducing the cost of capital significantly. We intend to give our customers the best rates while staying true to our vision. Therefore, an implementation with MakerDAO helps our users to get capital at low costs.
We want your feedback
We’d like to hear your thoughts on what we have to offer. We have a community on Telegram where we address any and all queries related to the company, our products, and our underlying philosophy.
We feel like we could benefit from the advice and expertise of members in the crypto community. You can also connect with us on Twitter and LinkedIn, and we’ll be more than happy to engage with you.
You can also stay up to date with what we’re doing with our products by following us on our social media channels.
Join us on Telegram: http://www.t.me/bankofhodlers
Follow us on Twitter: https://twitter.com/BankofHodlers
Follow us on LinkedIn: https://www.linkedin.com/company/bank-of-hodlers