Patryk(@Solofunk):I'd rather we push the envelope and see what's possible for onchain credit. Lots of novel uses happening with these assets being borrowed against and looped (@HastraFi, @paretocredit, @USDai_Official, @maplefinance, etc.). Quarterly assets like ACRED have proven difficult to integrate, as @anzep13 says. The liquidity/duration problem has become clear to everyone, and it limits composability. But if liquidity providers like @FissionXYZ, or other players using infrastructure like @multiliquid_xyz, can price the exit of longer-duration assets and enable integrations with DeFi, then let's try it. The potential unlock is worth it, and we don't need to handhold retail "lenders." That is a personal risk decision, and one that will largely be outsourced to institutional curators and leading centralized exchanges/fintechs anyway.

2026.10.07 16:34

I'd rather we push the envelope and see what's possible for onchain credit. Lots of novel uses happening with these assets being borrowed against and looped (@HastraFi, @paretocredit, @USDai_Official, @maplefinance, etc.). Quarterly assets like ACRED have proven difficult to integrate, as @anzep13 says. The liquidity/duration problem has become clear to everyone, and it limits composability. But if liquidity providers like @FissionXYZ, or other players using infrastructure like @multiliquid_xyz, can price the exit of longer-duration assets and enable integrations with DeFi, then let's try it. The potential unlock is worth it, and we don't need to handhold retail "lenders." That is a personal risk decision, and one that will largely be outsourced to institutional curators and leading centralized exchanges/fintechs anyway.

anze@anzep13

2026.10.07 16:01

Hot take: private credit is the best RWA to hold and the worst one to borrow against. @PanteraCapital showed in their latest report that it's already the most used RWA in DeFi, with 44.7% of it sitting in DeFi protocols. Here's why that's risky: 1) DeFi lending relies on selling collateral fast when loans go bad. 2) Private credit exits through redemptions that can take weeks and get gated in a crunch. 3) So when collateral needs to be sold, liquidations fail and bad debt piles up. 4) The USDC lenders who thought they were earning "safe" yield are the ones left holding it. Liquidity is still an issue for some RWAs, especially private credit. I'd be really careful looping it, it's probably not worth it for a few extra % APR. Not every asset is meant to be looped or leveraged.