I am not convinced of it really, these protocols like pancake swap and all that are cool ideas, but they have a lot of privacy issues, so what's the point of a dex when you're doxing so much meta data on chain? The idea of a dex is also to preserve privacy

As for taking a loan against collateral that is shoddy at best I see it as a recipe for disaster, even with bitcoin I wouldn't take a loan of more than 10% LTV