Imagine thinking old car loans is "defi"

>I have british passport sir
>GMT+2 eastern euro trash
k

you're the only one of them that's not an obvious shitskin don't you notice?

you guys are guaranteed getting scammed, they are overvaluing old cars to get loans and will default and sell those cars at their real price, leaving loaners without money.

Ask yourself, if someone approached you with this scheme irl, would you do it? But they slapped Defi and Smart Contract on it, and suddenly it's "legit".

the value they're using is a standard value index accross the USA
loan total is less than car value
this is just the first version of a project to connect DeFi to real world assets
project has 1st move advantage
this is the first DeFi bank and it has an ex-CIA agent at its head
do the math, you braindead faggot

Imagine not liking making money and gainz b/c you don't think something is "DeFi" enough

epic bagholder cope

>GMT+2 eastern euro trash

Actually mate it's GMT +1 in London right now
Which means you know what country sits in GMT +2 right now? I'll give you a clue it's a Western European country that starts with an S

Learn to tell the time before calling me out as a Eastern European.

GMT +2 is Western Europe daylight saving time (Amsterdam, Paris, Madrid, Rome, Berlin etc).

We're living rent free boys

i’ll be honest, the dmg fud is hilarious. i fudded it too for the keks

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>loan total is less than car value
Yeah but you need to be able to sell the car. Who's going to pay the costs for getting it sold? You need infrastructure and sales for that.
>and it has an ex-CIA agent at its head
lmao

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eurozone passport
deployed to foreign country
DMG high roller
do the math

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>so insecure in their investment that they seek for confirmation from anonymous people by posting their passports and hands on a cambodian pot making fediverse node

You stole my fucking image cunt

you obviously have no idea how finance works. they own the debt on those assets user. they aren't involved in valuing...or overvaluing as you say.... old cars. it's a collection of loans that people are paying, owned by this project. when you go to the bank and take out a loan, you pay them back at interest....doesn't matter what the fuck you bought with that money, old car, new house, hookers and blow, that debt is still the banks wealth.

now you, in comparison, would need to fire up photoshop, balance the colors a bit, and do a few more things before posting passport, wouldn't you ?

The only thing I'd fire up photoshop for is to put a dick in your mouth
oh wait I don't need to

This this this

what part of "overcollateralized" is failing to penetrate your thick skull ?

he doesn't know what that term means user....he doesn't know what any of this means.

see I will bet that the real value + sales costs of those cars will not cover the loan
Who is paying for the sales costs anyway? Who is storing the cars? Is this at all guaranteed in some sort of contract, the actual sale?

you can bet all you want bitch
we all bet
right now, I'm winning
and you're losing
you are getting thaught a very expensive lesson in unrealized gains, user
let that lesson sink in
meditate on that

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>you are getting thaught a very expensive lesson in unrealized gains, user
no u