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2025-06-04 20:11:32 UTC
in reply to

Marinatin on Nostr: Good on ya. Better but still: "Further Re-hypothecated", "Repledge", "subject to ...

Good on ya. Better but still: "Further Re-hypothecated", "Repledge", "subject to capital partner's terms". Still too vague. Needs to be more explicit. Proof of reserves helps immensely but the fine print also needs to explicitly say there are no obligations papered to that reserve that we cannot see...because at the end of the day ya'll control the wallet. We do not. If SHTF with a partner, can Strike's balance sheet cover? Not yet. Or could there be some sort of recourse baked in the agreement for the lendee if the portion of reserves tied to their loan gets moved? Still...it would require the lendee to be constantly watching and then take legal action which no one wants to deal with. Feel me?