related posts
788 sats \ 1 reply \ @rijndael 14 Oct 2022
Not really a borrow lending protocol… at least not yet. Looks like it’s mostly a way to post offers, comment on them, rescind them. I think there needs to be some additional bits to really be a borrowing protocol.
Would be cool to look at how something like bisq works and adapt some of its mechanisms for lending instead of trading
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0 sats \ 0 replies \ @DeezSats 14 Oct 2022
Perhaps some kind of contract where the borrower posts collateral to a locked multisig that is unlocked by a payout (payback) of the borrowed amount + interest to an address, if that's possible. Bisq trade collateral is typically 25-30%
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649 sats \ 0 replies \ @k00b 14 Oct 2022
Cool initiative!
- Relies 100% on trust
- fine as loans usually entail risk but it’d be nice to minimize if possible
- trust consists of comments only, eg lots of cost to evaluating trustworthiness
- it’s be nice to introduce a rating system so trust can be “compressed” into a number and be easier to evaluate
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432 sats \ 1 reply \ @pillar 14 Oct 2022
One problem that comes to mind is how to prevent an evil actor to create many identities and repeatedly lend himself to build up reputation, before "spending" it in ripping someone off.
On the other hand, one positive idea that came to mind is: if a single loans could be served by many lenders, that helps the lender side of the market distribute risk. Like, if there was some coordinating mechanism in the protocol that makes it trivial for a loan to be funded by many lenders, maybe even pretty much the standard thing. I feel this leads to interesting options.
This is the kind of cool stuff that we can do and traditional finance can't because of all the friction they face.
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100 sats \ 0 replies \ @pi 14 Oct 2022
Could checking, not only the reputation of the person in question, but also the reputation and trading history of the other identities help? AI will probably be useful in the decision making process too.
Also, I would expect that for significant amounts, one would require some sort of id, address verification etc?
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273 sats \ 1 reply \ @bitcointerest 14 Oct 2022
How does the collateral work. Am I required to lock in collateral in your custody wallet or is there like an escrow wallet that can't be accessed by the company. This won't be any different to Celcius if Blend has access to collateral. Just a thought.
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100 sats \ 0 replies \ @pi 14 Oct 2022
I'd expect this to be up to the lender and the borrower to decide. It doesn't need to be enforced at the protocol level.
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0 sats \ 1 reply \ @AJ1992 14 Oct 2022
I want to participate, but I am not good at all with code and have never used Nostr... Can ya help me get involved?
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0 sats \ 0 replies \ @kr OP 14 Oct 2022
best to reach out to @dannydeezy directly, he’s building the project
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0 sats \ 0 replies \ @SodaPop 14 Oct 2022
Services like this are real democracy. Star on project
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