I'm never a fan of something with a fixed interest rate. Things change and happen that will always adjust this rate and if not well that's a BIG RED FLAG for me.
I also don't like giving up my keys it's far too risky IMO.
What's preventing someone to not default on the loan or become delinquent on the loan? Being that it's crypto I'm going to say there's little to no repercussions.
I know nothing fully about it though but those are my initial thoughts or questions that come to mind.