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RE: Testing THORChain Lending

in LeoFinance8 months ago

Thank you.

I have been looking for an alternative to Makerdao because I consider wrapped Bitcoin to be centralized third party risk that everyone ignores.

Truth be told, it caused me to split my investment between bitcoin and ether so I could deposit ether into Makerdao without third party risk.

Question, why do you use Trust Wallet? I am looking for a Metamask replacement , so I am interested in using trust wallet.

Thank you

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I'm using Trust Wallet just because I am.
It's the official wallet of Binance and pretty popular.
That being said Binance putting their brand on it doesn't necessarily make it super trustworthy.

A replacement for Metamask might be something like XDEFI.
I'm also using that lately to interact with RUNE (ThorChain) and CACAO (Maya)

Thanks for the Alpha. I am checking out XDefi now.

In regards to Thorchain Lending platform, it looks like you can deposit Ether and Bitcoin right now, but not Rune?

I think it's a great idea to borrow borrow against your Bitcoin to buy Rune.

I am just thinking through my plans to accumulate Rune and exploring my options.

Off topic, I am interested in the WLEO/CACAO trading pair planned for MAYA.

Do you know if MAYA has the same protections for Liquidity Providers as Thorchain?

I think Thorchain has some type of fee sharing protocol to protect them from losses.

Thanks, I appreciate you sharing your point of view..

I used XDEFI a while back when I was exploring the Thorchain universe (selling those RUNE back then was certainly a fail 🙄 ). Have to say I did like it and it was very similar in a lot of ways to Metamask.

The only problem I had with it that I could never fix was it would not play on the same browser with Metamask. It wanted to be the default or something like that, so I just used it only on Brave and Metamask only on Chrome.

There probably was some kind of fix for that available, but I just took the "easy" way out.

It would be no real stretch for me to use it as my main wallet.