New System Project

[Tyler Howell]

Hey, Everyone

I am new to this forum, but I am working on a system that has crossed my mind lately. What is it you might just ask?

It's a way where any person can use their Digital Assets/Digital Currency as Collateral/borrow against and be issued loans in the form of Stablecoins

I need some people to come with me and co-found this project, and make a whitepaper with me; this can revolutionize the Crypto Industry. This is a project I have been working on deeply and something god has put on my mind and heart to make

Who's with me?

also just another idea to make you think........... "Trustless Credit."


That's all I'm going to say

- Tyler

| Thinker, Innovator, and TrailBlazer |

[aioc]

I need some people to come with me and co-found this project, and make a whitepaper with me; this can revolutionize the Crypto Industry. This is a project I have been working on deeply and something god has put on my mind and heart to maket

This will not work; you need to include something that will attract developers, thinkers, writers, or anyone capable of realizing this. You need to show what your capabilities are and the work you have done in the past.
You should be the one to create the whitepaper or provide more input, since this is your idea, you're manifesting. I don't think this is an original idea, and it is not revolutionary; you'll need to define "revolutionary" for yourself to attach it to your idea.

[yhiaali3]

I didn't fully understand your idea!!! you need to explain it further and add some important details about the project.

If your idea is to create a system that allows the use of cryptocurrencies as collateral for loans in stablecoins, this already exists on major platforms like Binance and OKX. The success of such a project depends primarily on building user trust. Where will you get this trust?!

[TothAnalyst]

The idea itself isn’t new — crypto-backed lending and “trustless” credit already exist in different forms. Whether this works or not really depends on execution, clear mechanics, and how it improves on existing solutions. A concrete model and whitepaper would help people judge the potential.

[robelneo]

I need some people to come with me and co-found this project, and make a whitepaper with me; this can revolutionize the Crypto Industry. This is a project I have been working on deeply and something god has put on my mind and heart to make

You make it sound easy, but it won't work here; they will not come to you if you don't have something that will attract them. Your idea is not really revolutionary, and the funding is not coming out of your pocket; you are the least qualified guy to come up with a project because you're not mentioning about your credentials.
Why not start with your credentials and reputation? These will attract people, not just constructed words.

[Glowy]

Hey, Everyone

I am new to this forum, but I am working on a system that has crossed my mind lately. What is it you might just ask?

It's a way where any person can use their Digital Assets/Digital Currency as Collateral/borrow against and be issued loans in the form of Stablecoins

I need some people to come with me and co-found this project, and make a whitepaper with me; this can revolutionize the Crypto Industry. This is a project I have been working on deeply and something god has put on my mind and heart to make

Who's with me?

also just another idea to make you think........... "Trustless Credit."


That's all I'm going to say

- Tyler

| Thinker, Innovator, and TrailBlazer |

How do you intend holding your collateral, will they give you access to their wallets or they will send the equivalent? If you get co-founders, I will volunteer to manage your project.

[Myleschetty]

Hey, Everyone

I am new to this forum, but I am working on a system that has crossed my mind lately. What is it you might just ask?

It's a way where any person can use their Digital Assets/Digital Currency as Collateral/borrow against and be issued loans in the form of Stablecoins

I need some people to come with me and co-found this project, and make a whitepaper with me; this can revolutionize the Crypto Industry. This is a project I have been working on deeply and something god has put on my mind and heart to make

I have a question for you, but I don't want to discourage you. How do you know that the project you're planning will transform the cryptocurrency industry? I ask because all of the current crypto loans and asset borrowing use the same operating model that you just described.
What makes you believe your service stands out in the crypto lending space?

[SandroVen1]

Hey, Everyone

I am new to this forum, but I am working on a system that has crossed my mind lately. What is it you might just ask?

It's a way where any person can use their Digital Assets/Digital Currency as Collateral/borrow against and be issued loans in the form of Stablecoins

I need some people to come with me and co-found this project, and make a whitepaper with me; this can revolutionize the Crypto Industry. This is a project I have been working on deeply and something god has put on my mind and heart to make

Who's with me?

also just another idea to make you think........... "Trustless Credit."


That's all I'm going to say

- Tyler

| Thinker, Innovator, and TrailBlazer |

The idea of using digital assets as collateral for stablecoin loans is definitely interesting, but it’s also worth noting that this space is already very competitive. Platforms like Nexo, Aave, MakerDAO, and others are already offering variations of crypto-backed lending, so any new project would need a very clear differentiation to stand out.

If you’re serious about building this, a strong whitepaper, clear trust model (especially around “trustless credit”), and a realistic approach to regulation, risk management, and liquidation mechanisms will be critical. Many projects fail not because the idea is bad, but because execution and risk controls aren’t thought through early enough.

It might help to clearly explain what would make your system different from existing solutions and why users would switch. That clarity will also make it easier to attract the right co-founders.

Best of luck with the project.

[nc50lc]

It's a way where any person can use their Digital Assets/Digital Currency as Collateral/borrow against and be issued loans in the form of Stablecoins

If it's bitcoin, you may utilize OP_CLTV for the collateral.
By the way, I didn't reply for your co-founding request, I just mentioned this to expand my reply to your other thread because it might be off-topic there.

For example, based from BIP65: github.com/bitcoin/bips/blob/master/bip-0065.mediawiki#escrow
You can set Lender's pubKeys as the current owner before that expiry (he can spend it, the borrow can't), because he's technically the owner of the collateral until the borrower repaid his debts.
Then, set the Borrower's pubKey to be the sole owner of the output after a certain period (e.g.: after the agreed full repayment date with a few days allowance)
So, the example script should look like this (you can get creative on your own version):

Code:

IF
    <Lender's pubkey> CHECKSIGVERIFY
ELSE
    <full repayment date> CHECKLOCKTIMEVERIFY DROP
    <Borrower's pubkey>
ENDIF
    CHECKSIG

With it, the lender can spend it if the borrower defaulted, which he must do before the expiry. (if he spent it prematurely, the borrower is entitled not to repay the loan)
Else, the borrower should repay the loan and the lender can either spend it to send to the borrower's wallet or wait for the expiry so the lender can spend it himself.
It works better with "Atomic Swap" to make the trade fully decentralized.