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?
Well, I would rephrase it as whether the majority of collateral is legit
Regardless, it would be extremely compelling to see detailed stats what crypto is lent out and in what amounts as well as what borrowed and how much precisely. If we had these stats, we could examine how the system would behave if the market was to fall, say, 50%. In other words, we would be able to estimate how strong and resistant it is to external shocks like price crashes as the one that occurred in March