You can create now a wallet with us, deposit your Bitcoin, Ethereum and Stablecoins (DAI and TrueUSD) and start earning interest on them. You also have the option to borrow DAI against Ethereum.
For those of you who haven’t followed our journey — Bank of Hodlers is a community of blockchain enthusiasts and full-time hodlers. We want to make a better bank.
Banks have put their own interests before those of the customer for too long, and every step of the way. The system is controlled by a few, hence it serves to benefit only the few. This oligopoly has ensured that banks never had to be customer-obsessed the way other industries have become. We will change that.
At the Bank of Hodlers, we think that a purely cryptocurrency driven financial ecosystem can work extremely well with a connection to the existing infrastructure. So, we’re building a community and user-centric banking solution for people who want to bank on the blockchain but can’t because of its restrictions.
We’re solving for banking today by unifying the FIAT and crypto banking experience.
If you want to lend your cryptocurrencies:
- You can create a wallet, deposit your crypto and start earning interest on your deposits
- The interest rate is dynamic, and you will be given an update on it every week
- You can earn interest on 4 major tokens (as of now, you can earn interest on 4 tokens but we plan to add the option of depositing and earning interest on 10 major tokens)
If you want to borrow crypto:
- You can borrow a stablecoin (DAI) against Ethereum which is built on top of the MakerDAO protocol
- You will be able to take a loan at the click of a button, with a governance fee set by MakerDAO without us taking any middleman fee
- We will be opening up borrowing across Bitcoin, Ethereum, DAI and TrueUSD along with other major cryptocurrencies within this quarter of 2019
At this point, you may want to ask us, why MakerDAO?
An implementation with MakerDAO helps our users get capital at lower costs. MakerDAO, as a platform, has revolutionized lending against Ethereum by reducing the cost of capital significantly. We intend to give our users the best rates while staying true to our vision.
Sign up to the platform here: https://app.bankofhodlers.com
And keep an eye on this space for more updates as we continue to strive to create the Bank our community deserves.
Originally published at https://bankofhodlers.com on April 25, 2019.
