The Good Tech Companies - Rocko, A New Marketplace For Crypto-Backed Loans, Is Officially Live

Episode Date: September 4, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/rocko-a-new-marketplace-for-crypto-backed-loans-is-officially-live. Users can access competitive rates from leading DeFi protocols — starting with Compound — and set up a loan within minutes, regardless of their level of experti Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #btcwire, #press-release, #crypto-exchange, #defi, #good-company, #rocko, #defi-protocol, and more. This story was written by: @btcwire. Learn more about this writer by checking @btcwire's about page, and for more stories, please visit hackernoon.com. Rocko is a new marketplace that connects crypto owners with the best DeFi lending protocols, enabling them to access crypto-backed loans quickly and securely. Users can access competitive rates from leading DeFi protocols — starting with Compound — and set up a loan within minutes, regardless of their level of expertise.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Rocco, a new marketplace for crypto-backed loans, is officially live. BY BTC Wire. New York, USA, September 4, 2024, Rocco, a new marketplace for accessing the best crypto-backed loans, has officially launched. Crypto owner Scan now use Rocco to quickly secure loans using their crypto assets' ASCOLateral, avoiding the need to sell their holdings. Users can access competitive rates from leading DeFi protocols, starting with Compound, and set up a loan within minutes, regardless of their level of expertise. DeFi lending protocols like Compound and Aave offer

lower interest rates and more flexible terms for crypto-backed loans than many centralized lenders. However, they are often seen as difficult to use. Rocco's platform solves Thisbe's simplifying the borrowing process with an intuitive, step-by-step interface. Users can customize their loan terms and select which lending protocol they prefer to borrow from. Once the loan is finalized, a smart wallet is automatically created, which then interacts with the chosen DeFi protocol to fulfill the loan based on the user's instructions. Since the wallet is non-custodial, users retain full and exclusive control over their funds. One of Rocco's standout features is its seamless compatibility with major

exchanges like Coinbase, Gemini, and Binance. No need for complex Ethereum wallets or seed phrases. Borrowers can receive their USDC loans directly into their exchange accounts, making it easier to convert it to USD for various purposes, such as real estate purchases, debt consolidation, or large purchases. Coinbase users can link their accounts to Rocco, streamlining the process even further. Rocco offers a comprehensive dashboard where users can manage their loans, track key metrics, borrow additional funds, make payments, and adjust their collateral.

Additionally, users can set up text or email alerts to monitor collateral value and interest rates. Upon repayment, the collateral IS automatically returned, along with any rewards earned from protocols like Compound. Rocco takes security seriously by implementing industry best practices and leveraging trusted solutions. Rocco smart wallets are fully non-custodial, meaning only users have access to any funds their wallets hold. The private key is encrypted and stored in a secure enclave provided by Turnkey, accessible only by the wallet owner. Rocco's smart wallets are built with Kernel, a highly audited and trusted modular smart account. Additionally, many DeFi protocols, including Compound, do not allow for the rehypothecation of assets. This means when

you take out a loan using Rocco, your collateral is not lent to other borrowers. Instead, it is locked in a smart contract until you repay your loan. Rocco was founded by a team of experienced fintech founders who have built and launched innovative consumer financial products in TradFi and Web3 such as the Gemini credit card, Marcus Pay by Goldman Sachs, and Ondo Finance. The original idea for Rocco came from their own frustration on how hard DeFi was to use despite the great value it offered. Their vision is to build one marketplace connecting all of DeFi that allows borrowers to easily access the best rates and liquidity from any number of protocols and networks, using any crypto assets. Rocco is set

to roll out a series of exciting new features in the coming months, including support for additional DeFi protocols, networks, and crypto assets. The platform will also introduce tools that help automate loan management, sousers can borrow at ease and set their loans on autopilot. To get started with Rocco and secure a crypto-backed loan today, visithttps://rocco.co.about Rocco Rocco is a new marketplace that connects crypto owners with the best defilending protocols, enabling them to access crypto-backed loans quickly and securely. Rocco users can take advantage of competitive rates and flexible

loan terms, receiving funds directly to their accounts at centralized exchanges or Tothair Ethereum wallets. The company was founded by a team of experienced fintech founders who have built and launched innovative consumer financial products such as the Gemini credit card, Marcus Pay by Goldman Sachs, and Ondo Finance. Contact. Thomas Harrison Media at Rocco.co. Tip This Story was distributed as a release by BTC Wire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.