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 |
Last modified 15d ago