No, Rocko is not a lender. Rocko is a technology platform that simplifies borrowing from popular Defi protocols like Compound.

Yes, a service fee of 1% is applied to new loans and loan increases. More info can be found in the Rocko Terms of Service.

Rocko currently supports Ether (ETH), Coinbase Wrapped Bitcoin (cbBTC), and Wrapped Bitcoin (WBTC) as collateral. We are working to add support for additional collateral assets.

If you have bitcoin, it’s easy to get to Coinbase Wrapped Bitcoin (cbBTC) or Wrapped Bitcoin (WBTC) to use as collateral for your loan as described in this detailed guide. Or just select BTC as the collateral type when setting up your loan using Rocko and follow the instructions onscreen.

Generally, DeFi protocols can offer greater transparency, more flexible loan terms, and lower rates than many traditional lenders. However, users can experience loss of funds in the event of software bugs or exploits. Learn more about the benefits and risks of DeFi borrowing in this detailed overview.

Rocko currently supports Compound III on Ethereum Mainnet at this time. More protocols and networks will be available in the future.

Yes, Compound III currently requires all loans to be over-collateralized, meaning that the value of the collateral pledged is more than the loan. This is not expected to change.

No. No credit check is required to receive a loan using Rocko.

No, DeFi loans are not reported to credit bureaus so it will not impact your traditional credit score.

The maximum amount you can borrow is determined by the value of your collateral, the max loan-to-value ratio for the loan, and Compound’s available liquidity for the loan asset. Generally, the amount of available liquidity for USDC is in the millions of dollars.

Lending protocols like Compound use formulas based on supply and demand to calculate interest rates. Learn more here.

If your loan exceeds the maximum allotted loan-to-value ratio, whether through not repaying it or another reason, your collateral will be liquidated (i.e. sold for USDC) and Compound will take a fee. To learn more about liquidation and how to avoid it, read more here .

Generally, using your crypto as collateral for a loan is not considered a taxable event as long as your crypto is not sold or exchanged. The tax implications for wrapping tokens — such as ETH for WETH — is unclear, as the IRS has not issued specific guidelines on this topic. This content is for informational purposes only and is not tax or legal advice. Please consult your tax advisor for further guidance.

No, Rocko wallets are non-custodial meaning only you have access to the private key and can control over any funds held by them. When you deposit collateral for a loan, it is held in a smart contract for that specific DeFi lending protocol.

Yes, you are able to export your private key through your profile page.