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The Evolution from Crypto Pawn Shops

How DeFi lending protocols today are pawn shops from the past.
The Evolution from Crypto Pawn Shops
Bankless Bankless
May 6, 2021 • 12 min read
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Dear Bankless Nation,

We’ve said before that lending protocols aren’t lending protocols. They’re more like interest rate protocols.

That’s a good start. But maybe they’re more like modern day pawn shops that have been around for centuries.

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The Evolution from Crypto Pawn Shops
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Bankless

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It’s time to break up with your bank, and join the movement for a better world.

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