I can see the point of a "lender".
You give bitcoin with a guarrantee and some days later you earn x% of what you give.
Zero risk for you only gain right?
Totally fine with that.
But....what is the point for a "borrower" to ask for a loan and to have already other currency?
You already have the money where is the problem?
Open an exchange account and sell your currency for bitcoin.
What am i missing?
Sorry i'm trying to understand.
There is absolutely risk that is involved with this. An altcoin could crash leaving the lender uncovered for the loan and if the borrower does not pay back it's the same consequence in the end for the lender, they losing money.
Of course there is much less risk involved with collateral loans than with no collateral loans, which is why collateral loans are often charged at a lower interest rate than no collateral ones.
Collateral loans make the most sense when the borrower wants to speculate and go long on a certain asset, and needs some short term cash to spend or even buy more of these assets.