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BenR
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August 06, 2017, 04:56:33 AM |
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We are soon adding USD-peg lending option to our roadmap. This means that the borrower would not suffer from volatility since all loans could be calculated in USD even if the transactions are in ETH. This means that our non-crypto buddies can also borrow ETH, spend it in FIAT economy and pay the loan back with FIAT earned income without suffering from volatility. For example borrower borrows 200 USD worth of ETH and returns 200 USD worth of ETH.
1. I assume if they're borrowing 200 USD they should pay back more than 200. 2. Also, for people not already in crypto-world, this would add another percentage while they change fiat currency to and from ETH. |
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Stunny (OP)
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August 06, 2017, 09:28:31 AM
Last edit: August 06, 2017, 10:09:19 AM by Stunny |
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We are soon adding USD-peg lending option to our roadmap. This means that the borrower would not suffer from volatility since all loans could be calculated in USD even if the transactions are in ETH. This means that our non-crypto buddies can also borrow ETH, spend it in FIAT economy and pay the loan back with FIAT earned income without suffering from volatility. For example borrower borrows 200 USD worth of ETH and returns 200 USD worth of ETH.
1. I assume if they're borrowing 200 USD they should pay back more than 200. 2. Also, for people not already in crypto-world, this would add another percentage while they change fiat currency to and from ETH. Alternative to use USD based loans would means that when 200USD worth of ETH is borrowed, 200USD worth of ETH should be repaid. On the second, good point but the fees are quite small.  |
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Stunny (OP)
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August 07, 2017, 06:56:15 PM |
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Hi All, we are migrating from Slack to Discord (we hate Slack because it is not secure enough): https://discord.gg/nKjsStvJoin for brainstorming sessions or just to lurk  |
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BenR
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August 08, 2017, 06:42:40 AM |
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Alternative to use USD based loans would means that when 200USD worth of ETH is borrowed, 200USD worth of ETH should be repaid. On the second, good point but the fees are quite small. 1. If they're paying back only what they borrowed with no interest or feed, what's the motivation for lenders? Only the possibility that they won't get repaid and the deposit would be repossessed? then the deposit would need to be worth the total value of the loan plus more! 2. Some exchange charge their own fees plus credit card feeds, bring it up to almost 10%. That's not a small fee - and that's before they even get to the loan itself. |
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Stunny (OP)
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August 08, 2017, 05:53:44 PM |
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Alternative to use USD based loans would means that when 200USD worth of ETH is borrowed, 200USD worth of ETH should be repaid. On the second, good point but the fees are quite small. 1. If they're paying back only what they borrowed with no interest or feed, what's the motivation for lenders? Only the possibility that they won't get repaid and the deposit would be repossessed? then the deposit would need to be worth the total value of the loan plus more! 2. Some exchange charge their own fees plus credit card feeds, bring it up to almost 10%. That's not a small fee - and that's before they even get to the loan itself. 1. Of course they will pay interest, was referring to loan capital. 2. Those are not exchanges, those are called crooks  |
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BenR
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August 10, 2017, 06:00:36 AM |
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1. Of course they will pay interest, was referring to loan capital.
So where/how the interest portion calculated? |
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Stunny (OP)
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August 10, 2017, 07:46:18 PM |
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1. Of course they will pay interest, was referring to loan capital.
So where/how the interest portion calculated? Now that we have borrower side loan request, the borrower proposes the interest (premium), once we have lenders side loan offers, the lender can also propose the interest rate. So in the end, the interest rate is market driven (as most of the stuff in economy should be). For example, if the interest rate (premium) is not attractive, no one will fund. Therefore the borrower should propose something attractive |
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lycos
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August 14, 2017, 10:12:46 AM |
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Hi ETHLend team,
If I understand correctly, to borrow ETH you need tokens. So basically to borrow money you need money, is that right?
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BenR
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August 16, 2017, 08:36:47 AM |
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Hi ETHLend team,
If I understand correctly, to borrow ETH you need tokens. So basically to borrow money you need money, is that right?
Most loans require collateral, unless you're dealing with an unsecured loan and high interest rates. |
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cointabo
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August 16, 2017, 12:28:59 PM |
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Sounds terrific, waiting for the official launch. Subscribed to the news letter, will be following this project closely. All the best guys!
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asyakashi
Sr. Member
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Activity: 1918
Merit: 256
Just.bet - Decentralized On-chain Casino
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August 16, 2017, 01:25:24 PM |
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Sounds terrific, waiting for the official launch. Subscribed to the news letter, will be following this project closely. All the best guys!
The same thing, i will do it like you i can not wait for further news. Participation in investment is very interesting. Besides participate to promote it through bounty program. |
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Stunny (OP)
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August 19, 2017, 08:26:14 PM |
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lumeire
Legendary
Offline
Activity: 1848
Merit: 1009
Next-Gen Trade Racing Metaverse
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August 20, 2017, 03:31:31 PM |
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I hope this would be much bigger and better than other services that tried this on the BTCBTCBTC platform before. Think btcjam, bitlending club etc etc.
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bodeng
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August 21, 2017, 01:00:00 PM |
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Good projects and also great to ensure I will participate in this project. Thankyou.
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Stunny (OP)
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August 21, 2017, 01:35:12 PM |
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I hope this would be much bigger and better than other services that tried this on the BTCBTCBTC platform before. Think btcjam, bitlending club etc etc.
Glad to hear. Our goal is to provide the global lending market when any where can place a loan request and can be funded from any part of the world. |
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