Quote from: SiverSurfer on March 12, 2020, 06:26:17 PM

I am thinking of putting my DAI into compound.finance due to the high interest rates now, at about 20%. The interest rates fluctuate but it is not locked and I can withdraw my DAI out easily.

Has anyone tried it?

I still do not really get the whole idea of the website. You give them a collateral and they give you a loan, in real life collateral is usually a car or a house or your business, so something you have already paid for and own and use yourself, I do not give them my house for the duration of the loan right? I still live in it.

It means normally when I take out a loan from any bank I do not actually give them anything, they do have legal rights to take it from me if I don't pay them but I do not give it to them when I am taking out the loan. Here you give them some deposit and get credited and then you can take out a loan. If I have that kind of money I already have that kind of money, why the hell would I pay interest rate on something I already have? It doesn't make any sense.