MOON Giveaway + Figure Markets AMA With CEO Mike Cagney

Hey !

We're Figure Markets, a one-stop DeFi ecosystem where you can use your Bitcoin or Ethereum as collateral to secure crypto-backed loans.

We're excited to introduce ourselves to this community and highly value your input. That's why we're hosting an AMA with our CEO, Mike Cagney. We're looking forward to your questions and participation, as they will shape the future of Figure Markets. As a thank you, we'll reward the top participants with MOONs!

We've given the moderation team $1000 worth of MOONs so they can distribute $20 worth to the top 50 most upvoted questions!* Mike will be answering questions from the community throughout the day on Tuesday, 07/09/. Be sure to add your ETH address at the end of your question.

We're particularly excited to share information about our current crypto-backed loan offerings. Borrowers can get instant cash by collateralizing their BTC or ETH:

No rehypothecation, no credit checks, no minimum (for international) or maximum, a 12-month fixed rate, and interest rates as low as 12.5%.

We're eagerly anticipating your questions. Best of luck to everyone participating!

*Geo-restrictions apply. The giveaway will end at 00:00 UTC on July 10th.

50 thoughts on “MOON Giveaway + Figure Markets AMA With CEO Mike Cagney”

  1. Figure Markets burned 10,248 Moons for this AMA and four days of the Banner.

    Remember to add your ETH address to the end of your question to be eligible for the giveaway.

  2. I’ve just found out about this crypto-backed loan and did some research on it.

    I can’t grasp the concept of swapping my cryptocurrency for cash. It appears to be no different from selling it.

    Can you explain how I can utilize this system to my advantage?


  3. The Classic Line: Not your Keys not your Coins comes to mind regarding getting a loan through a 3p using Crypto as the Collateral. Beyond basic protections for your company do you have anything to ensure safety of clients assets held as collateral?


  4. How do you stand out from other established borrowing protocols?


  5. Most people buy crypto to get out of fiat and/or as an investment to make money. What incentive can someone have to use crypto as collateral to get fiat, with an interest of 12.5% minimum? The interest alone can turn profits into losses


  6. What’s makes you different from BlockFi and Celsius? In other words, why should we trust you?

  7. Is there a mandatory KYC for signing up?


  8. Do you provide integration with smart contracts to provide flash loans? What is your opinion on adding such a functionality in addition to giving Crypto-backed loans?


  9. You currently say that borrowing APR is the following: Starting at 12.5% (12.5% to 14.19% APR). What are the variables behind the APR rate here? Plus, how did you arrive at this rate and how do you intend to stand out in this sense? This looks similar to a couple of DeFi rates, such as Lista’s, Kamino’s, Zerolend’s, etc…


  10. Sounds great: (my question is at number 5)

    1. Lend us your coins
    2. Pay 12% interest to get them back
    3. Pray we stay solvent long enough
    4. Do not bother to read the fine print
    5. What could possibly go wrong? 😉



  11. So what separates Moon from other DeFi tokens like Marlin? And how are transfers safeguarded?


  12. When will borrowing against other blue chips like MOONs be implemented?


  13. Has anybody on your team ever been convicted of any crypto-related crimes?


  14. With Figure Markets ambition to be ‘the exchange for everything’
    how do you envision integrating traditional financial assets with digital assets on your platform,
    and what regulatory challenges do you foresee in creating a truly comprehensive global marketplace?”

  15. Your website stated to lend money in the USA and other countries. Have you ever thought about some people who will lend money and not return it? What will be your plans to those type of people? Because I know it wouldn’t be nice to lend someone money and the person won’t be able to pay back and if you aren’t in their country, it’ll be hard to catch them


  16. >No rehypothecation, no credit checks, no minimum (for international) or maximum, a 12-month fixed rate, and interest rates as low as 12.5%.

    I’m having a hard time figuring out the end-game here. So, what exactly guarantees your loans to borrowers? 12.5% verges on predatory, but is that enough if you can’t get assets from the borrower ? Specially if you don’t have a minimum nor maximum amount, nor a credit check of any sort? Or do the borrowers need to deposit Bitcoin and ETH directly to you and you just give cash equivalent for that amount, in hopes that the ETH/BTC appreciates in value in relation to the interest rate you’re charging?


  17. 12% is quite a steep rate and 3x higher than in the offline world. What makes you better than offline and online competition that you believe this rate is justified?


  18. As you said we can collaterize our BTC or ETH, but will there also be any further Cryptocurrencies added to this in the future?

    Thanks for answering in advance.

  19. Are you trying to bribe me for engagement? Disgusting

    👉👈Anyway, you need my wallet address or are you going to sent the moons via postal service?

  20. Why should I keep $20 of MOON after receiving them and not exchange them for ETH?


  21. I just checked your platform and looks like your only trading pairs are ETH, BTC, USDC and…. HASH. What is HASH? Is it your official token, and if it is can you explain its tokenomics?

    As a sidenote I don’t think it’s best idea to pick comments just based on votes, but rather choose them yourselves because just few votes can get easily manipulated.


  22. Hi Mike, what do you see as the most significant regulatory challenges facing the crypto market today, and how is Figure Markets preparing to navigate these challenges to maintain its competitive edge?


  23. What contingency, if there could be any, would you have for volatility concerns? A lot can happen in 12 months. Can I pay off my loan sooner if I want to sell because the price has gone parabolic? Or, on the other hand, will you ask for more collateral if the price tanks?


  24. Scrolling through the website. What’s HASH? I’ve never heard of that token and why do you guys use it?


  25. What are some key benefits to taking out a crypto backed loan? How many crypto backed loans has Figure Markets approved? What do you anticipate the volume to look like? Are you planning on allowing borrowing on other crypto currencies? Will there be crypto backed loan pools to sell to investors? Are investors interested in that type of offering?

  26. Why not sunset the Moons and create new coin Sun.


  27. What makes you different from all the others out there? As in why should I as a costumer choose you

  28. So how do I get rich with this? But explain as if I’m slow.


  29. How does the “No Credit Checks” work? Potentially, any con artist can borrow money and disappear? How will u track them? And your interest rates are 12.5% onwards.. that is too high, isn’t it? Why should I bother with this option instead of a lower interest bank loan.


  30. If I need to talk with your costumer support, with medium urgency, how long it would take to speak with a human?


    Edit: wrong adress.

  31. I have 10k Moons sitting in a metamask account doing diddly squat. Is there any way your platform can make them work for me, and you thanks.


  32. What is your maximum loan? What’s the maximum loan period? What chain/currencies will you be accepting bid in?

  33. Hi my question is for people outside USA, do you support customers from LatinAmerica for example? Is there any specific restrictions?


  34. So, does the company live off of the 12,5 or more interest? Do you “play” with the btc/eth collateral?

    How can i be fully sure you are not the next Celcius & co?

  35. Hey Mike,

    Figure Markets sounds awesome, especially the part about no credit checks and low interest rates on crypto-backed loans. How do you guys keep the collateral safe, especially when the market gets crazy?

  36. How do you ensure the reliability and uptime of your trading engine, especially during periods of high market volatility?


  37. Do you have an app yet or every loan is made inside your website?


  38. I remember you from my Celsius days. What a shitshow. Sad it didnt work out with you guys

  39. How do you safeguard users deposits? Do you delegate custody to third parties or handle it yourselves?


    1. How does Figure Markets ensure the security of users’ collateralized assets, especially in the face of potential market volatility and security threats?
    2. Can you explain the process of rehypothecation and why Figure Markets opts not to engage in it with their crypto-backed loans?


  40. That seems like a high interest rate for such a short period. What separates you guys from other crypto lenders currently in the game?


  41. Given all the volatility right now, how is the collateral valued? At the time of transaction? At the time of finalization?

  42. Simple question- What is your long term goal/roadmap? How are you gonna stay afloat in this extremely competitive market?


  43. This is something I always wondered. If I need a loan, why can’t I just take it from a bank? Why use my crypto to take a crypto loan? How do you see this market working going forward?


  44. How should we think about your balance sheet? You must be fairly exposed to crypto, so what happens if we see a large market drawdown (say BTC falls 50%+)? Can you weather that storm or will you have to liquidate assets?


  45. Hey Mike. Can you share details on your mobile app development plans or roadmap for improving mobile trading experience?


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