One thing to comment on is that it's pretty insane that they're considering changing the terms of these loans after the fact. For loans moving forward, fine, but I think there's a real legal issue at hand if they change the terms on people who have already agreed to different terms. It would set a dangerous precedent in DeFi.
why were lenders were allowed to withdraw their deposits? Not familiar with this DAO but if I provide 100 eth as a loan to an nft owner who in turn uses his nft as collateral to borrow 50 eth from me, how is it possible for me to “withdraw my deposit”?like brah this is free market capitalism you’re locked in!
One thing to comment on is that it's pretty insane that they're considering changing the terms of these loans after the fact. For loans moving forward, fine, but I think there's a real legal issue at hand if they change the terms on people who have already agreed to different terms. It would set a dangerous precedent in DeFi.
why were lenders were allowed to withdraw their deposits? Not familiar with this DAO but if I provide 100 eth as a loan to an nft owner who in turn uses his nft as collateral to borrow 50 eth from me, how is it possible for me to “withdraw my deposit”?like brah this is free market capitalism you’re locked in!