Personal loans up to 10K USDC without collateral or KYC

We are launching a new personal loan borrowing protocol without any collateral or KYC requirements.

Our protocol will look at your wallet’s transaction history and provide you with up to a 10K USDC personal loan in a year. The repayment terms would be 12 monthly installments at 20%-25% APY.

Are you interested in getting early access to the protocol?

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23 thoughts on “Personal loans up to 10K USDC without collateral or KYC”

  1. and how will you collect when someone takes a loan with no collateral or KYC and then just ghosts you?

    There’s a reason for over-collateralized loans in a non-KYC world. The repayment funds (collateral) get locked into a smart contract so that the loan is guaranteed to be repaid

  2. I’m afraid this won’t work, especially if you use smart contract to allow borrowing, since many people will create 2nd, 3rd wallet and game your system.

  3. The only way I truly see undercolleteralized loans happening is on a privacy chain like rose where you could submit kyc documents privately through the smart contracts.

    Interesting idea though. For me it’s more of a “I’ll believe it when I see it kind of thing”

    Also, you’re building a market for scam wallets with this. Get someone to engage it lots of daos, look good “on paper” then run with the money

  4. I believe we are moving in this direction. We have to see how it works – 🤷🏽‍♂️ people want more non-collateralized credit. You’ll need to work through a lot of red tape

  5. I love this. Bold yet simple. Dripping we allowing the victims to self select themselves, thus scammers have a much better success rate netting only the most gullible marks to bite.
    Oh please invite me to this… very keen to invest-igate

  6. No offence. Its just like how the sharks operate/charge in my country. Minus the violence/threats for late payments i guess? All the best!

  7. How are you going to enforce payment of the debt and interest?

    I hope the answer is not “trust me, bro”😂

  8. Interesting concept on paper (screen). Answer is No for lack-of-auditability. If you don’t have a technical whitepaper I generally don’t bother.

    As another user said, this is why over-collateralized loans exist. If you can spin this off to something closer to Aave’s finance control (slashing stakers on liquidation), it might have legs.

    Answering No, though, due to high APY. At 20% – 25%, I might as well use my credit card.

  9. No collateral or way to track down anyone who owes you a payment. What could go wrong?

    Also, where do I sign up? 😂

  10. Even as someone who is very risk-prone, I have to say, at least the way it is presented it leads us to believe there’s something just not right.

    I see from your posts that you are an app studio, and it sounds like you have low-to-medium depth experience in the blockchain domain to me.

    Still, I am optimistic and I will give you a go. DM.

  11. Which wallets can your protocol read? My ETH volumes are low as I mostly focus on Cosmos, specifically Juno ecosystem (Keplr Wallet) , I have sizable Juno and LP on this chain and expect to maintain it for long term (more than a year)

  12. Thanks for the comments folks. Fair objections/

    With regards to the spam protection for lenders and the platform itself, we are implementing our one-strike policy by leveraging web2 identities and bringing them on-chain using zero-proof technologies. Obviously, there is still a potential for one scam per person which will be limited by first credit score check based on a wallet history, secondly by increasing the limit based on repayments, and finally we might introduce auditors in the future for validations.


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