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Competitive analysis

The DeFi space has witnessed tremendous growth in traffic as new protocols are coming into play. Several new innovations are taking place in the crypto space due to the flexible nature of smart contracts. With this, most of the major protocols are upgrading their features in order to gain more user-base.
Hashstack being a lending protocol, has considered the major disadvantage of lending platforms i.e. over-collateralization, and has designed the Open Protocol to provide undercollateralized loans. Let’s see where Hashstack stands in this competitive market by comparing it with some of the most popular and established lending protocols like Aave, Compound, and MakerDAO.
Text
Hashstack
MakerDao
Compound
Aave
Collateralization
Under-collateralized
Over-collateralized
Over-collateralized
Over-collateralized
Loan to collateral value
300:100
69:100
70:100
(20 to 50):100
Permissible withdrawal
70
69
70
20 to 50
Use cases
Personal cash, trading capital, leveraging, longing and shorting, arbitrage etc.
Personal cash needs / IDO investments
Personal cash needs / IDO investments
Personal cash needs / IDO investments
Asset utilization rate
45-60% (testnet)
30-35%
33-38%
15-18%
Liquidation
Dual liquidation solution (liquidators & protocol driven)
Auctioned liquidations
Liquidators
Liquidators
Total value locked (USD)
356 Mn (testnet)
14,520 Mn
11,490 Mn
6,310 Mn
Asset utilization
Loans: Personal cash, trading capital, IDO investments
Retail loans
Retail & Institutional loans
Retail loans
Third party integrations
JediSwap
No
No
No
Multi-chain
No
Yes
Yes
Yes
ZK-L2 [Starknet, Polygon, zkEVM]
Yes
No
No
No
EVM [Polygon, Ethereum]
Ethereum only
Ethereum only
Yes
Yes
Interest rate model
Algorithmic
Base rate + algorithmic
Base rate + algorithmic
Base rate + algorithmic