I want to see a fully formed financial system built on crypto rails, and a fully formed financial system requires credit. Since the first time I encountered the idea of borrowing and lending on-chain, originally through Dharma’s lending protocol I became obsessed with the prospect of getting to a state where we see credit extended on-chain, meaning that we’d get to loans which are undercollateralized. Dharma, Maker, Compound, all of these early iterations of borrowing on chain seemed really cool but back then I was very dismissive because the loans were always over collateralized. It seemed like something that was…



Jon Kol

Some dude. Likes to think out loud. Investing @ Galaxy

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store