Thanks for clearing that up 👍
Next important question: Can the borrower hold a key so they can verify?
When Unchained offered loans afaik the borrower held one key, Unchained held one and the lender held one.
There is no rehypothecation with Strike Lending.
When you take a Bitcoin-collateralized loan with Strike, your #Bitcoin stays in a segregated wallet. No rehypothecation, no funny business.
We hear you loud and clear. Better rates is next. Give us until the end of the month 🫡
https://blossom.primal.net/b4d10103d60371ed362abc40a97cba6f15c03abe250d92f9d687475d1a536477.mov
Discussion
dumb question but what stops unchained and the lender from playing games w your btc in this 2 of 3 setup? does one key have to be yours? how do we confirm that the other 2 can’t transact with their keys only?
Not a dumb question. The other two could do that, but since they are both highly regulated entities it’s unlikely they would collude like that.
That said,
Not your keys
Not your coins
remains true.
You are 100% trusting third parties with your corn when you hand it over as loan collateral.