Yeah I think we need to a big dose of don’t trust verify. And the harsh truth about the strike product is there is zero verification possible, it’s a black box where all you can do is trust social signaling. They have said proof of reserves is coming, but until then it’s literally a trust me bro. Love Jack and Strike but the product as it stands is what it is and I don’t love how they’ve structured it(zero transparency and fully custodial).

Strike loans also aren’t available to me, so any comparison is ultimately moot.

Lava you can verify your collateral in a non custodial on chain address, and the stablecoin infrastructure is provided by Stripe(via Bridge acquisition). As far as fiat companies go they are on of the most well reputed.

A huge portion of risk is also loan size, a $75k loan all else equal is inherently far riskier than a $1k loan.