Ima fuck this up
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Today Chime announced it just raised $750 million at a $25 billion valuation. A neobank with a market-leading savings rate of 0.5%.
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Chime’s real value, though is providing lower risk credit to subprime borrowers… which is something I would be interested in doing on Terra.
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Non collateralised debt implies a trust-based contract (no way to enforce repayments). This doesn’t fit well for a use case in crypto
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I believe Iron bank (cream/yfi) and Aave provide undercollaterized loans to trusted parties
Would it be possible for the protocol to "tag" borrowed funds such that they can only be transfered between certain wallets? This could enable trustless loans scoped to a single dApp.
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how can i get in touch about actually doing this? I have thought through what Chime Credit Builder on Terra/Anchor would look like.
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