Saw some questions about pricing, partners, and future plans for our new #Bitcoin-backed lending product at Strike.
Recorded a quick video to break it all down, including how we plan to drive rates lower, enable proof-of-reserves, and more. Only the beginning for this industry
https://blossom.primal.net/b37d629ec0f71237df4ce8f397879709fabc360caff7809b02850c0adb3f23ca.mp4
What happens to pleb funds using Strike bill pay product, or keeping SATs on strike, when/if your partners blow up due to rehypothecation (see pic)? I'm moving to River until Strike has proof of reserves and a strong firewall. I saw enough of this nonsense last cycle with FTX/Blockfi/Celsius/etc.
bitcoin on our platform has nothing to do with the lending product.
we are working on proof of reserves lending, we will get here.
by the way, this is my response to that screenshot in case it's helpful. happy to answer any other questions
Thanks for the info. I've really enjoyed using Strike over the years. I'll look forward to coming back when you have the proof of reserve system in place.
