Getting cash without selling your crypto holdings used to require navigating complex decentralized finance (DeFi) protocols, but a new platform called Rocko is making crypto-backed loans simpler than ever.
In this article, we’ll take an in-depth look at Rocko and how it streamlines the process of borrowing against your digital assets. By the end, you’ll understand why Rocko could become your go-to solution for accessing funds while maintaining ownership of your crypto.
So whether you’re a seasoned DeFi pro or just getting started, keep reading to learn how Rocko can help unlock the value of your blockchain bags. Rocko might just become your new crypto credit card.
Simplifying DeFi lending
DeFi protocols allow crypto holders to leverage their digital assets in new ways. For example, you can deposit crypto as collateral and take out a loan denominated in a stablecoin like USDC. This provides cash in hand while keeping your original crypto.
The catch has been that directly using DeFi can be downright daunting. You need crypto wallets, an understanding of smart contracts, and technical know-how. Additionally, you need to research different protocols and evaluate which offers the best rates. This high barrier limits DeFi mostly to crypto nerds.
Enter Rocko. By acting as an easy-to-use interface and marketplace for the top DeFi protocols, Rocko removes much of the intrinsic complexity of DeFi lending and enables you to easily compare rates and access crypto-backed loans. Setting up a loan takes just a few clicks on their website – no coding skills required.
You select your loan amount, collateral type and amount, lending protocol/loan terms, and where to send the borrowed funds. Upon finalizing your selections, you’ll receive a non-custodial Rocko smart wallet that will work behind the scenes and integrate with lending protocols to deposit your collateral and transfer your funds to your specified account/wallet.
| Feature | Crypto-Backed Loans | Traditional Loans |
| Collateral | Crypto assets (e.g., ETH, BTC) | Typically fiat currency, real estate, or other assets |
| Credit Check | No credit check required | Credit check required |
| Interest Rates | Often lower than traditional lenders | Generally higher than DeFi loans |
| Loan Terms | More flexible, often open-ended | Fixed terms and repayment schedules |
| Accessibility | Available to anyone with crypto assets | Restricted by credit history and income requirements |
| Custody | Non-custodial, users maintain control of assets | Custodial, lender maintains control of collateral |
In other words, Rocko streamlines DeFi borrowing down to a simple and quick process while leveraging the powerful and transparent structures of protocols like Aave and Compound. This lower barrier means almost anyone can now benefit from crypto-backed loans.
Competitive rates and flexible terms
When exploring traditional loans, you’re often limited to standardized terms and rates set by the bank. With Rocko, you have much more flexibility to customize loans to your specific needs.
Firstly, Rocko provides access to a variety of lending protocols on Ethereum, Base, and Arbitrum, each offering their own unique interest rates. This allows borrowers to compare terms and leverage the best rates across the DeFi ecosystem.
No need to worry about monthly minimum payments either – repay the principal plus interest on your own schedule.
Perhaps best of all, you can easily refinance your loan through Rocko if rates fall. Just a few clicks allows you to switch protocols and keep costs low, something traditional banks don’t allow. Rocko puts the borrower fully in control.
Using crypto as collateral
When leveraging DeFi lending, crypto assets are used as collateral to back the loans. With Rocko, you can use Ether, Wrapped Bitcoin, and other coins as collateral. Rocko supports collateralizing 10 tokens that each have their own loan-to-value ratios:
- Wrapped Bitcoin (WBTC)
- Coinbase Wrapped BTC (CBBTC)
- Threshold tBTC (TBTC)
- Ethereum (ETH)
- Wrapped Liquid Staked Ether 2.0 (WSTETH)
- Coinbase Wrapped Staked ETH (CBETH)
- Chainlink (LINK)
- Uniswap (UNI)
- Compound (COMP)
- Aave (AAVE)
For each protocol, there are different collateral requirements like loan-to-value ratios. Rocko provides all key information and streamlines the process so you can choose the best option for your loan.
A major perk of DeFi loans using Rocko is that your crypto collateral isn’t stored with a centralized custodian, exposing you to counterparty risk, but instead in an audited smart contract. Additionally, using your crypto as collateral allows you to maintain exposure to potential price increases while accessing cash.
Funds delivered almost instantly
After finalizing your loan and depositing collateral, your loan is sent to you almost instantly. You’ll get your loan in USDC, one of the most popular stablecoins, providing stability regardless of crypto markets.
Better yet, Rocko seamlessly integrates with Coinbase and other exchanges. Within minutes, you can opt to send your loan directly into an exchange account. From there, a few clicks convert it to fiat for spending on anything from real estate to paying down higher-interest debt.
The speed and convenience of this process truly sets Rocko apart from traditional routes that can take weeks. Your crypto is working for you without having to sell.
Comprehensive loan management
Once your Rocko loan is open, their powerful dashboard provides ongoing management tools. Track your current balance, collateral amount, interest rate, and more. You can also:
- Borrow additional funds Make payments
- Adjust your collateral amount
- View any rewards earned from lending protocols
- Set collateral value and rate alerts by SMS or email
Rocko’s dashboard also clearly displays the necessary loan-to-value amount you need to maintain for your loan and enables you to set up SMS or email alerts so you can monitor any changes due to price volatility. buffer amounts. You can then top up collateral or pay down balances proactively to avoid liquidation – a critical safety feature.
It’s like a personal finance app, but focused entirely on crypto-backed loans. This level of control and transparency is rare among traditional lenders.
Security and support
Understandably, security is a top concern when dealing with any financial platform. On this front, Rocko has implemented robust protections for both users and the platform itself.
Importantly, all Rocko wallets are fully non-custodial. This means only you control private keys and have access to funds. You can easily set up multi-factor authentication to better protect access to your wallet and funds. Also, Rocko never stores your collateral and loan proceeds.
Their platform only supports DeFi protocols that undergo comprehensive third-party security audits. This provides an extra assurance layer that underlying smart contracts powering loans are thoroughly vetted.
For any questions along your lending journey, Rocko also offers customer support. Speak to an expert about signing up, funding loans, using advanced features, or managing risk. It’s a refreshing change from self-serve DeFi interfaces.
Bringing crypto lending to the masses
By simplifying access to DeFi lending, Rocko is primed to usher in mainstream adoption of crypto-backed loans. No longer must crypto owners choose between holding or selling – they can now leverage holdings to access cash on their own terms.
With competitive rates, customizable terms, and powerful risk management tools, Rocko streamlines a process that was previously too complex or risky for most. For those looking to utilize holdings or unlock liquidity, their platform is a true game changer.
With continued progress, platforms like Rocko may render traditional lending obsolete. If you hold crypto and occasionally need access to cash, Rocko could be your easiest and most powerful solution. Use Rocko to ensure you’re getting the best rate on your loan. Sign up and get funds in minutes!