And while we are at it, can anyone explain to me what is driving the people who are borrowing coins this way? I've been trying to come up with a single reason what's in it for the borrowers, and still can't wrap my head around it. If you have to provide 200% of collateral, how does all that make sense?
Seriously, what's the point?
The question is, are majority of those borrowers legit? Or just some made up statistics of the said project mover? We all know data can be manipulated. But for some reason, probably I might give my point of view why those people are offering a 200% collateral of crypto because, they believe on that collateral and don't want to part with it. That in due time, they will earn the money to pay for the loan and reclaim their collateral escaping the regret of selling their asset that has tendency to skyrocket in price.