The Evolution Path of Blockchain Lending: From Crypto Pawnshops to Credit Institutions

Today, the main form of DeFi lending is over-collateralized lending. To get $100 worth of DAI, you need to put up $150 worth of ETH as collateral. Some projects are trying to launch under-collateralized lending services, but no clear winner has emerged yet. This article will introduce various existing and upcoming crypto lending protocols, as well as the next plans for blockchain credit. Let's begin. In short: Today's mainstream DeFi lending protocols are essentially equivalent to pawnshops of the past. As on-chain assets increase, the collateral universe will eventually include NFTs and tokenized real-world assets.