Interest really is 12 to 25%? Isn't that a bit on higher side? That's almost double by any conventional means.
It is common for these types of loans. Similar to their approach to overcollateralization (or credit enchancement).
What's the other crypto based loan token, that is giving similar interest rates? Can you name a couple?
There isnt any other service similar to SALT (SEC approved, loans form banks/accredited investors etc).
However, there are plenty of services outside the crypto world that allow vert volatile assets to be collateralized. Their rates, collateral required etc are very similar.