So....how exactly does that work?
What happens if a borrower defaults? The lender is just SOL?
Is the actual identity of the borrower known? (Or the lender?)
How are FDIC institutions connected/involved?
You are viewing a single comment's thread from:
https://app.ethlend.io/faw on how to and for the rest:
If the borrower defaults, the tokens can be claimed by the lender.
The lending is pseudo-anonymous currently and since lending is collateral-based that is ok. They are going to add KYC as well.
Not sure about FDIC but the smart contract is available for banks and institutional lenders as well.
Hope this helps, I invite you to Telegram for further discussion if necessary: t.me/@ETHLend