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

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

#101

Post by seibelj »

jbob2000 wrote: post #60
nahollander wrote: post #13

Earlier quoted context omitted.

Yes -- two parties are permitted to lend money to one another in a mutually agreed environment. It's important to note, though, that developers who build end-user applications on top of Dharma ought to be cognizant of lending regulations / securities law in the jurisdictions they are active in. However, we've opted to build Dharma in a non-jurisdictionally-biased manner -- we think that jurisdiction-specific regulato…

That is a dangerous position to put yourself in. AML and Terrorist financing laws make everyone responsible, you generally cannot claim innocence if you take no precautions and are involved in some kind of incident. Good luck.

No, this is akin to building a protocol. The creators of HTTP are not in trouble when someone uses the web for illegal activities.

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

#102

Post by integration »

asdsa5325 wrote: post #90
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.

Does “disrespectful” instead of “offensive” satisfy your need to play semantics?

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

#103

Post by krapp »

schaefer wrote: post #9

Nadav, "Dharma" is widely recognized as the term to denote the teachings of Buddha. I feel the use of the term in this new context is cultural misappropriation. Would you care to address that concern with your thoughts on the topic?

... said schaefer, on a site that calls its comment scoring "karma."

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

#104

Post by bpforster24 »

jakecrouch wrote: post #84

What is the advantage of using the blockchain rather than creating a fully centralized debt exchange?

I'd recommend reading this blog post we put out. It explains better than I can in a short comment: https://blog.dharma.io/dharma-an-open-protocol-for-generic-t...

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

#105

Post by bpforster24 »

cortesoft wrote: post #100
ghthor wrote: post #77

Earlier quoted context omitted.

The protocol doesn't have a credit score. That's a concept better suited for the application layer built on top.

Right, which was why my point was that the collateral is probably going to be at least equal in value to whatever is borrowed.

Dharma Protocol doesn't require that the value of collateral be greater than the principal of the loan, but we do expect the market will demand full- or over-collateralization.

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

#106

Post by bpforster24 »

cvaidya1986 wrote: post #78
bpforster24 wrote: post #69

Earlier quoted context omitted.

EthLend and SALT are both lending applications. While we have created a lightweight lending app in Dharma Plex, our core offering is Dharma Protocol. Dharma Protocol is a suite of developer tools that enables entrepreneurs to create apps like Ethlend or SALT easily and securely. It's open source and entirely free to use.

Ah thanks for the response. What's the business model?

We discuss our business model a bit in this blog post: https://blog.dharma.io/dharma-isnt-currently-doing-a-token-s...

Happy to discuss more, but that's a good start

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

#107

Post by hekfu »

bpforster24 wrote: post #106
cvaidya1986 wrote: post #78

Earlier quoted context omitted.

Ah thanks for the response. What's the business model?

We discuss our business model a bit in this blog post: https://blog.dharma.io/dharma-isnt-currently-doing-a-token-s... Happy to discuss more, but that's a good start

You don't really though? Unless I missed the bit on how you want to get payed. All I see is 'building a great open source infrastructure', which while I applaud and is noble, is not widely accepted to pay rent so far

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

#109

Post by jbob2000 »

seibelj wrote: post #101
jbob2000 wrote: post #60

Earlier quoted context omitted.

That is a dangerous position to put yourself in. AML and Terrorist financing laws make everyone responsible, you generally cannot claim innocence if you take no precautions and are involved in some kind of incident. Good luck.

No, this is akin to building a protocol. The creators of HTTP are not in trouble when someone uses the web for illegal activities.

HTTP is not intrinsically tied to finance, though. This is specifically a protocol for financial transactions, for sure it would fall under AML laws.

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

#110

Post by aphextron »

bpforster24 wrote: post #79
TekMol wrote: post #32

How is paying the debt back enforced or incentivised?

Right now we expect most loans will be fully collateralized by other crypto-assets. So the default deterrence would be that if you don't pay back your loan, you lose your collateral. We also support unsecured loans (i.e., loans that are not fully collateralized). We consider these pretty experimental and lenders should do a lot of diligence before investing. For unsecured loans, counterparties can agree to any kind o…

What exactly is the use case for a 100% secured loan?
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