if so it would take a long long time to kick in — I’m the kind of person who switches savings accounts from bank to bank to get high rates, and I’m not totally crypto-ignorant, but I still haven’t gotten around to figuring out the stablecoin yield thing
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I have been having a hard time understanding why borrowers are willing to pay those rates.
When Bitcoin is up 300% in a year, paying 15% to borrow dollars to buy more BTC doesn’t seem like such a bad idea.
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That’s the demand side. On the supply side, the borrowers want to collateralise their loans in crypto. Banks can’t accept crypto as collateral so you go to the people who can, which means exchanges, OTC desks or defi lending protocols who all have much higher “risk free” rates.
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