The bot isn't here yet, noone knows the details of its inner workings.
I, for example, will continue to pay a premium for 30 day loans. If the bot can't do that, I will deactivate it.
Ente
Of course you would, so would I...
We do not know the details but we all kind of suspect how it will work, and we know it will replace existing loans with cheaper ones.
What you do not seem to understand is that if I lend for 30 days and rates go down, you can refinance with cheaper 30 days loans. If they go up a lot, you won't and I can't increase my rate.
We need also real loans with fixed maturity that can not be reduced, or prepayment penalties. Right now, the 30 days lenders, unless at way above market, are providing free options to borrowers on interest rates, as was said before.