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June 06, 2011, 06:58:11 AM
Last edit: June 22, 2011, 12:00:20 AM by AntiVigilante |
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Terms and rationale:
Volatility is high, liquidity is low. Being able to repeat the cycle quickly is the first priority.
Unlike most loans these don't run forever. As there is a likelihood of loss for both lender and borrower, it seems some mutual concessions are in order.
Interest, especially compound interest, is ludicrous right now. Loan fees are used instead. All loans shall end and not be renewed. The service may be reused.
There are three periods:
Repayment period: During this time the full loan amount will be repaid with only fees remaining on the balance sheet.
Fees period: After the full amount is repaid, the fees are paid over a longer period of time.
Settlement period: Any outstanding fees or principal not paid shall be cancelled after this time.
Concessions:
The settlement period is one. Larger loans have lower fees compared to principal.
Loaned Repayment Days Total fee % fee Days Collateral
Personal loans Settlement 15 days
1BTC 0.2000BTC 5 days 0.2500BTC 25.00 2 ds 0.2250BTC
3BTC 0.5000BTC 6 days 0.6900BTC 23.00 3 ds 0.5950BTC
6BTC 0.7500BTC 8 days 1.2600BTC 21.00 6 ds 1.0050BTC
Miner loans Settlement 30 days
10BTC 1.0000BTC 10 days 1.9000BTC 19.00 4 ds 1.4500BTC
30BTC 2.5000BTC 12 days 5.2500BTC 17.50 6 ds 3.8750BTC
60BTC 3.7500BTC 16 days 9.6000BTC 16.00 12 ds 6.6750BTC
Trader loans Settlement 45 days
100BTC 5.0000BTC 20 days 14.5000BTC 14.50 8 ds 10.7500BTC
300BTC 12.5000BTC 24 days 40.5000BTC 13.50 12 ds 26.5000BTC
600BTC 18.7500BTC 32 days 75.0000BTC 12.50 24 ds 46.8750BTC
Business loans Settlement 60 days
1000BTC 25.0000BTC 40 days 115.0000BTC 11.50 16 ds 70.0000BTC
3000BTC 62.5000BTC 48 days 330.0000BTC 11.00 24 ds 196.2500BTC
6000BTC 93.7500BTC 64 days 630.0000BTC 10.50 48 ds 361.8750BTC
Settlement
Fee: 0.1000BTC per remaining BTC
Minimum: 0.0100BTC per principal BTC per day
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