Long time ETH holder here, sat on my bag through the whole bear market

[Jonh Newman]

Hey folks. Long time ETH holder here, sat on my bag through the whole bear market. Now I want to put a down payment on a used boat (yes, I know) and need around 15k in stables. Selling ETH at these levels feels wrong. I've heard there are credit lines backed specifically by ETH, where you keep your exposure and just borrow stablecoins. How does that work in practice: what's the usual collateral ratio, how fast do you get the funds, and is it smart to do this for a purchase rather than for trading?

[Konstantin Volkov]

A boat, nice. My brother did something similar for a used truck, borrowed stables against ETH instead of selling, and it worked out because he paid it off within a month. An ETH backed credit line is basically that: the ETH stays yours as collateral and you draw USDC. XQ is building exactly this. Their example shows a bit over 6 ETH for 10k USDC, so for 15k figure roughly 9-10 ETH locked. Funds come in USDC on Base, and terms show up right after you connect a wallet. Mind you, it's still on a waitlist, so timing depends on their launch. As for buying things with it: fine if you have a clear repayment plan. Do you have steady income coming in to cover it within a few months?