I haven’t decided if I actually want to do this yet, but how does “negotiate an OTC deal with a random person in the discord” work? (how do you not get scammed—are there escrow smart contracts?)
(Disclaimer: I mention TrueFi below; my brother is the CEO of the company behind this so you can guess my biases. None of this is financial advice)
My crypto is mostly in TRU right now, the native token of the uncollateralized lending platform TrueFi. This is because 1) TrueFi seems like a good idea (uncollateralized lending is huge in traditional finance, so it clearly has the potential to be huge here too as long as it’s done right), 2) I have an unusually high level of certainty that the team is competent and trustworthy (see disclaimer, also I’ve done a tiny bit of the development and auditing work myself), and 3) the current farming/staking returns seem quite attractive given the above. But I should probably diversify more anyway, so thanks for your tips!
I haven’t decided if I actually want to do this yet, but how does “negotiate an OTC deal with a random person in the discord” work? (how do you not get scammed—are there escrow smart contracts?)
(Disclaimer: I mention TrueFi below; my brother is the CEO of the company behind this so you can guess my biases. None of this is financial advice) My crypto is mostly in TRU right now, the native token of the uncollateralized lending platform TrueFi. This is because 1) TrueFi seems like a good idea (uncollateralized lending is huge in traditional finance, so it clearly has the potential to be huge here too as long as it’s done right), 2) I have an unusually high level of certainty that the team is competent and trustworthy (see disclaimer, also I’ve done a tiny bit of the development and auditing work myself), and 3) the current farming/staking returns seem quite attractive given the above. But I should probably diversify more anyway, so thanks for your tips!
Yes they’ll use the traditional legal system: https://blog.trusttoken.com/mitigating-risk-truefis-loan-default-process-454359a8c4b