[閒聊] 轉文：Critical review of crypto lendi

Critical review of crypto lending platforms
https://bit.ly/3g0s4hN

內文長，寫得很好，這邊轉一部分的結論。加號是好處減號是壞處。

NEXO summary:
+ Decent yield (also on fiat currencies)
利率不錯
+ Credissimo is a legit lender, ensuring NEXO will always have customers
Credissimo 是合法的借貸公司，Nexo會一直有這個客戶
+ NEXO tokens are eligible to collect dividends when used as loan collateral
NEXO代幣就算拿去抵押也可以拿股利
- Web of jurisdictions and shell companies
建立在空殼公司上
- Lack of clarity regarding NEXO earnings/dividends
對NEXO收益與股利不透明
- Lack of clarity in the NEXO token yield arbitrage
NEXO代幣利率不透明
- Who are the borrowers?
有哪些借款人？

Celsius Network summary:
+ Decent yield
利率不錯
+ Exotic loan collateral choices
借貸資產選擇多
+ Registered with SEC
在美國證交會註冊
+ Withdrawal policy
提款政策不錯
- Who are the borrowers?
有哪些借款人？
- Only accessible through a mobile app
只能從手機App上用
- Weak explanation of high yield
對高利率解釋不足

BlockFi Summary:
+ Winklewoss twins will frown disapprovingly at anyone who attempts to steal
BlockFi funds
Winklewoss雙胞胎不會隨便亂弄資產
+ Decent yield
利率不錯
+ No historical red flags (read: no useless ICO)
沒有亂ICO過
- Interest rates are decided by reading tea leaves
利息不知道怎麼定出來的
- Stablecoin collateral is limited to GUSD and directly linked to Gemini (in
creasing systemic risk)
穩定幣只能用GUSD (現在選擇很多了，這是舊文章)
- Who are the borrowers?
有哪些人借款？

Crypto.com Summary:
+ If the company uses only their internal funds for liquidity purposes, it i
mplies good deposit security for users
若公司只拿內部資金提供流動性，客戶存款蠻安全的
+ Flexible lock-up periods for lending
鎖倉長短有彈性
- Unclear legal structure
法律結構不清楚
- History of token pumps and dumps (hence the rebranding)
以前有用Token割韭菜過
- Funds accessible only through a smartphone app
只能用手機App
- Lack of focus — many products at once (credit card, lending, crypto excha
nge, quant trading)
太多產品缺乏專注

--

手機發文，現在補翻譯，這篇文章蠻多「拍手」的，想先分享