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Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets

news.ycombinator.com

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Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets

#81

Post by bpforster24 »

atomical wrote: post #75

How is this different than SALT and MakerDao?

Similar to the question about SALT and EthLend, these are both applications. See our answer there fore more details.

Re. MakerDao, they offer one type of loan, the Collateralized Debt Position, in which a borrower collateralizes ETH and the principal is denominated in DAI. And they have built in many automated mechanisms to keep DAI stable against the value of a US Dollar.

Dharma can support a similar use-case (getting liquidity on crypto-assets without selling them) -- you would collateralize any currency and borrow in DAI. That way you can get fiat liquidity today, but if you pay back your loan on time you can still benefit from appreciation of the asset you collateralized.

In addition, Dharma is capable of supporting other lending use cases: short selling, speculative leverage, venture debt, corporate bonds, muni bonds, etc. etc. We are a platform for any kind of debt agreement and for companies that want to issue these debts.

Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets

#85

Post by dustingetz »

edent wrote: post #42

There's something I don't understand about Smart Contracts. Normal contracts are written by lawyers. They are reviewed by both parties' lawyer. Sometimes, after the contracts are signed, the lawyers disagree what a particular provision or clause means. At which point, they either negotiate or sue. In which case, a human judge weighs up the case and decides. How do disagreements work with smart contracts? I assume som…

Consider finance options contracts. It's math, there aren't ambiguities, "that's not a bug, it's a feature". Also consider that if lawyering was not an available tool in software contracts, there would still be a game theoretic equilibrium, just a different one, but markets would still function. Before contract law there were other coordinating forces, such as royalty and religion, and things worked out well enough. http://home.uchicago.edu/~rmyerson/research/stratofc.pdf

Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets

#86

Post by simonebrunozzi »

Congrats for the Dharma team for this anticipated launch! Been following them for a while, great team and very focused exection!

Our company [0] is building an API platform to transact on digitized real estate assets, and we intend to leverage Dharma as much as possible in the future.

[0]: www.fabrica.city

Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets

#88

Post by himom »

nowarninglabel wrote: post #30

Congrats on getting to this point! Been following Dharma closely for a little while now as we (Kiva) have an interest in trying to increase financial inclusion and decrease lending costs for the world's poor and have been hoping Dharma may end up being one piece to the future of our work. Could you possibly speak to how you intend to enable KYC (Know Your Customer) / AML (Anti-Money Laundering) to work with Dharma? T…

I remember putting money into Kiva around 2007, it was increments of $50 IIRC.

Unfortunately, I lost a job and the ability to work, spent 401k, went bankrupt and lost access to the email address to my Kiva account. It seems ironic as I no longer have even $5. I don’t really worry about money anymore with serious endocrinological, ophthalmological and neurological problems... sleeping 12 hours and awake for 60 hours might place small limitations on life.

Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets

#89

Post by fapjacks »

sillysaurus3 wrote: post #72
TekMol wrote: post #44

Earlier quoted context omitted.

How do disagreements work with smart contracts? If you are big or popular or have connections, then the guys in power will bend the rules in your favour. Google 'The DAO' for an example. Otherwise, an algorithm will decide.

Not quite. The ecosystem was much smaller back then. Nowadays, I'm not sure one company would be able to make a case for forking the currency. Besides, you can still buy ETH classic, if you disagree with the decision. It's just not worth much.

I am 100% sure that if I went and "the code is the contract"ed whatever ends up being DAO2.0 out of 5% of all existing ETH, that Vitalik would come save it "just this once" one more time... I absolutely do not believe for one second that there wouldn't be another fork. And I say this as someone with a substantial interest in the currency.

Re: Launch HN: Dharma (YC S17) an open protocol for borrowing/lending cryptoassets

#90

Post by asdsa5325 »

integration wrote: post #87

Maybe you don’t realize but this name is offensive to Buddhists... It’s like an insurance company calling itself “Gospel”

> It’s like an insurance company calling itself “Gospel”

Is that offensive? Doesn't seem like it to me.

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