How DeFi Lending Works
A plain explanation of DeFi lending mechanics: how liquidity pools, collateral, and interest rates work without a bank in the middle.
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Independent, plain-language guides to DeFi lending, crypto borrowing, NFT-backed finance, and the risks hidden beneath the interface.
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Featured guides
Four foundational explainers for understanding lending, collateral, and risk onchain.
NFT-Backed Loans Explained
How NFT-backed loans let you borrow against an NFT without selling it, and what can go wrong.
Read guideOvercollateralized vs Undercollateralized Crypto Loans
The real difference between overcollateralized and undercollateralized crypto loans, and why almost all DeFi lending uses the first model.
Read guideRisks of Crypto Lending Platforms
A clear-eyed look at what can actually go wrong on a crypto lending platform, beyond the basic mechanics.
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01
DeFi Lending
Understand liquidity pools, collateral, rates, and the contracts behind decentralized lending.
View topic 02NFT Finance
Clear explanations of borrowing against NFTs, valuation, liquidity, and risk.
View topic 03Crypto Borrowing
Compare crypto loan structures and understand collateral, liquidation, and platform risk.
View topic 04Yield Strategies
A developing library about how onchain yield works and where its risks come from.
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How DeFi Lending Works
A plain explanation of DeFi lending mechanics: how liquidity pools, collateral, and interest rates work without a bank in the middle.
Read guideNFT-Backed Loans Explained
How NFT-backed loans let you borrow against an NFT without selling it, and what can go wrong.
Read guideOvercollateralized vs Undercollateralized Crypto Loans
The real difference between overcollateralized and undercollateralized crypto loans, and why almost all DeFi lending uses the first model.
Read guideRisks of Crypto Lending Platforms
A clear-eyed look at what can actually go wrong on a crypto lending platform, beyond the basic mechanics.
Read guide