Interested in a Crypto Loan Service (DAC)? - Loan SBD, STEEM, and Others
Thought about helping to set up a loan service eventually decentralized and tokenized.
Crypto Loans
User (accounts) to be able to loan crypto into some form of a token / DAC that will be decentralized and fully managed by members, blockchain, and tokens in the long term. Thought about this idea for a while and seems like a good time to start putting together such. Base token(s) could be bought and sold for a basic variety of tokens. Loaning out or offered for what more of is wanted or in demand and then be changeable into some other token at all times so there would not be a liquidity problem. This may vary depending on the use case explored initially based on possibilities. Idea would be for such to be managed by many and not just one with various input from the token holders and tools created to be managed as such as well. Ultimately to be more decentralized over time. Please feel free to express interest if in fact interested and we may work together on this creation idea of a crypto loan proof of concept. Thought about doing this potentially on bitshares as well. With some initial interest would love to set up and get going!
https://medium.com/@George_harrap/bitshares-margin-trading-and-swap-contracts-on-the-dex-discussion-3856b00a8349
Thank you for sharing. Thought about this some last year. Think this year is a better time.
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One of the downsides that needs to be addressed is the collateral requirements required by bitshares is significantly greater than what can be offered by centralized lenders.
It's difficult to utilize bitshares as a bank in this case, as one must put up a significant amount of collateral and the opportunity cost of utilizing capital in this fashion is too great.
To me, it still functions well as a way to short USD or CNY and to perform some level of forex trading - but utilizing crypto as collateral requires less volatility than is present in the current paradigm.