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Trader Joe
Question
Liam
@rpg41fish · Oct 14, 2023, 14:21
Why is Trader Joe's MIM lending so high APY❓️🤔What are the risks?
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Comments (1)
UralArt
@uralart · Oct 14, 2023, 14:34
For example, right now,
$108k is Deposited (Lend), but $101k is also Borrowed,
and the lender's APY is higher and the borrower's interest payable is higher due to the tight situation with only $6.5k MIM in the pool.
Aside from the security risk,
you should know that if Liquidity goes to zero, you may not be able to Withdraw the amount you Deposit unless the lender Repay.
$108k is Deposited (Lend), but $101k is also Borrowed,
and the lender's APY is higher and the borrower's interest payable is higher due to the tight situation with only $6.5k MIM in the pool.
Aside from the security risk,
you should know that if Liquidity goes to zero, you may not be able to Withdraw the amount you Deposit unless the lender Repay.
0
4
