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A basic summary of Hashstack's Open is as follows:
Developed on the protocol of the same name, through Open, anyone anywhere worldwide can borrow up to five times their collateral, completely permission-less, without the need for trusted 3rd parties. That is, one can borrow up to US$500 with collateral of as little as US$100. This is over 600% more loan against the collateral when compared to the incumbent money markets — Compound, Aave, MakerDao.
The ownership of the balance loan remains with the Open, with the borrower having the right to spend. Open integrates dapps of critical novelty across zk L2 & L1s, where the loan can be spent. For, eg, A borrower can trade the $500 loan for equivalent BTC on DyDx on Starknet. Here, the transfer of assets happens on a protocol level between Open & DyDx, while the state change of the loan market is recorded for the borrower. If the trade returns a positive yield, the borrower makes a profit, which is for theirs to keep. The borrower can repay the debt and exit the transaction with positive returns.