周末几天,和好几个朋友讨论了这次多家借贷和Curator暴雷后的影响,核心观点如下:
这次暴雷并没有证伪Morpho和ListaDAO这样的协议,反而是一次很好的正本清源和重新洗牌的机会。
传统金融会按风险把贷款分成五级,AAVE和CEX站内借贷,本质上是正常级贷款,但后面还有更劣质或者次级,在这五级以外还有非正规机构、P2P和高利贷
垃圾债比AAA债券利率高,高利贷比正规贷款来钱快
说白了,链上借贷也需要垃圾债和高利贷,这种贷款的特点就是收益高、风险高、对风控的要求高。所以暴雷是正常的,不爆雷才奇怪,哪有容量极高、门槛极低、还没有风险的20%年化收益率。
高利贷会一直存在且赚钱,次级借贷市场也一样。
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