Who is your friend and why is it important that he made 4%? And yes, this
is in the wrong section. Don't think it's a referral attempt, but this thread is
stupid as F.
4% isn't a great return, unless you mean 4% a day which is pretty good.
Means nothing to us tho.
He was saying 4% a day, which Polonex doesn't offer, so yes, this thread is stupid as F. Maybe he just means he trades and earns 4% on average? Idk. It's all nonsensical.
Interest rates were at 5% per day immidiately prior to the Aug 1 fork, which was the maximum their platform allows. Polonex was not giving lenders with active loans the BCH they were due, so few lenders were willing to lend on Polo. Lenders are able to offer loans for up to 60 days, although borrowers can repay early if they so choose.
Most of the loans were likely repaid shortly after the BCH fork, as interest rates fairly quickly fell to more normalized levels.
The bitfinex lending book had somewhat similar issues although for different reasons, however their maximum interest rate for loans to be automatically taken out is 0.75% per day (borrowers can pay higher rates, however they will need to manually take out these loans). I currently have BTC loans outstanding at bitfinex totaling about 10% of the loans I had outstanding at the time of the Aug 1 fork with interest rates of just over 0.6% per day. A good 30-40% of the loans I had outstanding as of the Aug 1 fork remained outstanding for at least a week or so, all at nearly the maximum 0.75% per day. It is nice to get the well above market interest rates, although it would be nice to be able to convert my BTC back into USD considering the massive increase in price since the fork.
