Name: Dharma
Rating: 4.08 (13 reviews)

Dharma is the easiest place to save money from anywhere in the world. With Dharma, the power of DeFi has never been more accessible or simple. No more seed phrases, no more gas fees, no more Chrome extensions.

Dharma is the easiest place to borrow and lend cryptocurrency. With Dharma, anyone can earn interest on their crypto or take out a line of credit from anywhere in the world. No bank account required.

Hey PH — My name's Nadav, and I'm the CEO & Co-Founder of Dharma. Cryptocurrencies have long been heralded as way to "bank the unbanked" — but, in reality, most cryptocurrencies sit idle and unused in wallets like Coinbase. We were promised magical internet money, but instead we got boom-bust lottery tickets. We want to remind the world of what got us excited about cryptocurrencies in the first place: the ability to deliver financial services to anyone in the world with an Internet connection. That's why we built Dharma. Dharma is the easiest place to borrow and lend cryptocurrencies — instantly & securely, anywhere in the world. Today, any internet-connected individual in the world can use Dharma to earn dollar-denominated interest or leverage their existing crypto holdings by taking out a crypto-backed loan. There's a lot that gets us excited about that: - Dharma is accessible to anyone, anywhere in the world - Dharma is leverages a system of smart contracts on the Ethereum blockchain in order to secure loans in the system — we *never* touch your crypto or have the ability to misappropriate or steal your crypto. You don't have to trust us — you just have to trust math, cryptography, and code. - Dharma doesn't require specialized wallets or chrome extensions — you can access it using any wallet, even Coinbase. And it's *extremely* easy for anyone to use — no fancy buzzwords, no worrying about the underlying tech. - We've been operating a private release of Dharma for several months now, and have already had users borrow >$1m and lend >$1.5m in cryptocurrencies Now that we're unveiling Dharma to the broader public, we're excited to hear what the PH community thinks. We think we've made magical internet money a bit more magical today, and we think you'll agree. Nadav

@nadavahollander Where can I read the terms and conditions for the interest rates paid back by borrowers - without having to sign up? What is the maximum annualized interest rate that can possibly be charged? I left the question below but didn't get a response - so thought tagging might help.

Super interesting. Are people borrowing/lending crypto assets today?

@rrhoover Yep! We launched to a closed group of early partners in February. In March, lenders on Dharma lent over 1M USD worth of cryptocurrency (Ether and MakerDAO's stablecoin Dai), of which over 600k was borrowed.

@rrhoover Over $1m in crypto-assets have been borrowed and $1.5m+ lent on Dharma during the past 3 months :)

Dharma has one of the easiest interfaces to earn interest on your crypto. They've implemented a 4 digit pin system to make Ethereum easy! The team is incredibly helpful and they have a huge vision. I can't wait to see savings accounts for developing countries! One of the best user facing products in the Ethereum ecosystem. Immediately earn interest with no term, no forms, no identity ---- pretty cool!

Pros:

Easiest way to earn interest on your crypto. Absolutely no reason not to use Dharma if you hold ETH.

Cons:

I dont hold enough ETH... :(

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