Imagine Buying A House With A Self Repaying Loan?
Now this is going to blow your mind, my mind is blown already. Cryptocurrency and defi is really changing the world by distributing wealth. This particular feature is really awesome and life changing.
Imagine taking a loan to buy a house and the loan pays for itself. Doesn’t this sound too good to be true? We have been so stuck in the centralization bullshit that anything that greatly favors us sounds like a scam. In the actual savings from institutions and banks, you have to wait for one year to collect your interest right? I mean if you deposit $50,000 for a 10% fixed deposit interest, after 1 year you will be paid $55,000.
Now with alchemist defi self repaying loan it’s not like that. You will put $500,000 in the alchemist defi, then collect let’s say $250,000 loan and wait for 19 - 24 months . At the end of 19 - 24 months you will have your $500,000 back with your house. This means that the defi protocol has replaced the $250,000 loan you took. Doesn’t it sound far fetched? The loan being given to you is given to you in the alchemix native token. Alchemix native token has value and can be sold for USD or exchanged for USD. When you do that, you can then confidently put it in your local bank.
I think if you don’t take out the loan in 19 -24 months your money might end up being $1 Million dollars. Because the double to $500,000 is $1 Million.
Now How Does It Repay Your Loan?
Alchemix works in a way that it automatically invest your funds into defi vaults of higher yields. That means that the smart contract is always working for your favor. Imagine putting your money in a bank and the bank moves your money into platforms that will give you the highest best interest rate so as to make you enough money.
Although this is what the bank does but they don’t give you the profit they take it for theirselves.
Defi is generally mind blowing with lots of mind blowing earning features. When I started Defi this year I felt like it was too good to be true until I started, now Defi is becoming a norm that it’s yield is not seen as a surprise anymore.
Will come back with some more exciting information on a well detailed post regarding how this works.
Posted Using LeoFinance Beta