[WANT] 6000 USDC Secured Loan

[Eternad]

I can fulfill this loan but with 150% collateral of the loan amount. Also the collateral will automatically liquidated since I will setup a stop loss on a price which the amount will be 110% value. You can always top up your collateral to avoid liquidation but inform before doing it.

I can offer you 10% monthly interest for the loan. Just let me know through PM if you agree to my terms since I might not visit again this thread. Most importantly, I will need to secure the collateral before I provide you the loan amount.

[Vod]

OP - I suggest you set up a smart contract for this.  You sending $9000 to Eternad is risky, since he has little history and a lot of gambling posts.

Escrows on here charge expensive fees for what a smart contract does automatically, and often the escrow provides no additional protection at all.

Good luck! 

[Eternad]

OP - I suggest you set up a smart contract for this.  You sending $9000 to Eternad is risky, since he has little history and a lot of gambling posts.

Escrows on here charge expensive fees for what a smart contract does automatically, and often the escrow provides no additional protection at all.

Good luck! 

Thanks Vod for pointing this out. This is actually one of my concerns on this deal since there’s no way OP will trust me immediately with an amount over the loan amount.

But I doubt a smart contract will work here since the collateral needs to be put at stop-limit order in able to secure the amount of collateral to 110% price margin. If a smart contract can do this then I don’t have any problem using that given that it’s not complicated and can be verified easily.

[Vod]

But I doubt a smart contract will work here since the collateral needs to be put at stop-limit order in able to secure the amount of collateral to 110% price margin.

The contract holding the collateral until the borrower receives funds is all you need.   If the borrower agrees with your plan, neither of you needs any more protection.

[DaveF]

OP - I suggest you set up a smart contract for this.  You sending $9000 to Eternad is risky, since he has little history and a lot of gambling posts.

Escrows on here charge expensive fees for what a smart contract does automatically, and often the escrow provides no additional protection at all.

Good luck! 

Technically this loan *is* gambling. Since even with a 150% security having it go off at 110% Eternad can still take a hit if it blows through the sell level without support.
We have all seen it happen with these tokens / alts, all of a sudden there is 0 support / buys for anything close to where it was.

-Dave

[Timelord2067]

Technically this loan *is* gambling.

But why be critical of this person taking out loans to gamble when there is another (ban evasion) user who is doing the same thing and you are facilitating their loans - why cherry pick who you are critical of when they are both lending to gamble?

[DaveF]

Technically this loan *is* gambling.

But why be critical of this person taking out loans to gamble when there is another (ban evasion) user who is doing the same thing and you are facilitating their loans - why cherry pick who you are critical of when they are both lending to gamble?

I'm not, but there is no profit here.
A 3% per month loan on this amount is $180 a month. There are other lending opportunities here and other places that are 3x to 4x that.

1st line from the 1st post

I only registered because there's no DeFi market currently that accepts RSR as collateral.
...

There is a reason for that.
When people are putting out loans at 15% a month and will not even accept 5x the amount of your loan amount with that token as collateral for it really is just an unsecured loan.
So for me the risk / reward is not there. Not saying it does not work for someone else.

-Dave

[dissontor]

OP - I suggest you set up a smart contract for this.  You sending $9000 to Eternad is risky, since he has little history and a lot of gambling posts.

Escrows on here charge expensive fees for what a smart contract does automatically, and often the escrow provides no additional protection at all.

Good luck!  

I don't know how to set this up. But I am aware of the risk.

I can fulfill this loan but with 150% collateral of the loan amount. Also the collateral will automatically liquidated since I will setup a stop loss on a price which the amount will be 110% value. You can always top up your collateral to avoid liquidation but inform before doing it.

I can offer you 10% monthly interest for the loan. Just let me know through PM if you agree to my terms since I might not visit again this thread. Most importantly, I will need to secure the collateral before I provide you the loan amount.

This is too much for me. It involves risk as well.

While the loan shark has no risk as he can't scam me since he doesn't require collateral. And he has the same rate. 10%.