Watch / A review of short term interest rates of tokens in the Ethereum Defi space, why they exist and how to interact with those smart contracts

A review of short term interest rates of tokens in the Ethereum Defi space, why they exist and how to interact with those smart contracts

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A review of short term interest rates of tokens in the Ethereum Defi space, why they exist and how to interact with those smart contracts

Duration: 00:06:03

Speaker: Akash Patel

Type: Breakout

Expertise: beginner

Event: Devcon 5

Date: Oct 2019

This a review of the current interest rate economics in the Ethereum space. A quick look at loanscan.io will show tons of projects interacting with each other to create lending and borrowing opportunities. We are here to review why they exist and show on a practical level how to interact with these smart contracts. Most use cases will be earning a high-interest rate or getting a loan of a cryptocurrency.How do you make sure your money is safe, what risks are you taking, how is this different than lending/borrowing money in the "real" world? We will go through a practical example of taking USD and entering the crypto world, interacting with a smart contract and earning interest. The hope is to teach anyone to do this in 10 minutes.

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