Firefish.io

Firefish is a Bitcoin-backed lending platform where members can participate as Borrowers or Investors.

– Borrowers receive fiat or stablecoin loans and use Bitcoin to secure them.
– Investors earn interest on their investment by providing funds for such loans.

At Firefish, the members are in control. Different to centralised lenders, many of whom have recently collapsed, Firefish does not have access to Bitcoin collateral – it is never touched, traded or exchanged. Instead, it is securely locked in a smart contract built on top of the Bitcoin network, making the process secure for both Borrowers and Investors.

The marketplace model also facilitates price competition, enhancing price discovery and transparency for both parties involved.

Firefish also enables non-bitcoin native Investors to participate in the market and invest in Bitcoin-backed loans, without any need to process Bitcoin transactions, operate wallets or manipulate with cryptographic material. The sole responsibility of the investors is to facilitate fiat transfers to and from their bank account.

Finally, you don’t have to worry about Firefish’s solvency or reputation either – we only provide the technology for secure interaction between Borrower and Investor, and we never have access to members’ funds or collateral.

The minimum investment is 800 EUR, loan tenors are 3/6/12/18 months. Maximum initial LTV is 50%, Borrowers get three margin calls when the LTV is increasing and the loan gets automatically liquidated if the LTV reaches 95%. Interest rates are between 5-15% p.a. Firefish supports settlements in EUR, CZK and USDC stablecoin.

There are no fees for investors. Firefish charges 1.5% platform fee to Borrowers.