Hashstack Launches the Open Protocol Testnet, Bringing First Under-Collateralized Loans to DeFi

[PRESS RELEASE – Road Town, British Virgin Islands, 7th February 2022] Hashstack Finance is thrilled to announce the testnet debut of its Open protocol, the first-ever DeFi lending protocol to offer non-custodial, secure under-collateralized loans. The milestone marks a significant accomplishment in Hashstack’s roadmap as it prepares to launch the Open protocol mainnent in the coming weeks.
Open protocol is the only autonomous lending solution in DeFi that enables under-collateralized loans up to 1:3 collateral-to-loan ratio. It means you can borrow up to $300 by providing only $100 as collateral. Of this, you can withdraw $70 (i.e. up to 70% collateral), while utilizing $230 as in-platform trading capital.
Hashstack Finance founder Vinay said, “Today, if you want to borrow $100 on Compound, or Aave, or even MakerDAO, you are required to provide collateral of at least $142. This breaks the primary intent behind loan procurement, and has restrictive use-cases for the borrower. In

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