yes! all will be through governance, investors in lending pool will participate in all decisions, we are aiming to make this a project for real enthusiasts who wanna shape rapidloans.
hahaha, this will definitely give wicked ideas to people XD
A project for people, shaped by people through governance, all concrete proof and written onchain.
Nice words buddy.
#keep it Tronic
Hi thank you for your explanation, please tell me because I want to know, are you putting limit to the loan amount that somebody can request, thank you
The loan will obviously be restricted to the amount in liquidity pool, all that will be decided by governance that how much of the liquidity pool funds we must use.
Thank you for you’re replying to me, please tell me what incentive are you going to be offering to your users to provide liquidity, thank you
Thanks for the clarity.
Hello sir @jaskaran , you have not answered my question please check.
To provide liquidity, users will get annual percentage yeilds determined by governance, and many more governance features to maintain transparency, even airdrops if possible!!!
Annual percentage yeilds, power in voting mechanism for literally everything and even airdrops if possible by us
still dont get it, if i take a loan and i do not pay, what will happen? if you check and funds are not returned
Anyone can apply to the loan as long as it is returned. If you are concerned about security, checkout the website rapidloans.vercel.app, and try it yourself!
Well in that case the transaction will be reverted to initial state, no sending of funds will occur, you will soon be able to get a tronide instance in which you can try that yourself on rapidloans.vercel.app , till then checkout this website to learn more!
Thank you for your reply to me, please tell me will the apy be a fixed one, thank you
Alright I will check, is there any time duration to repay this loan? Like can it take days, month or year?
yes, in one month you have to repay the loan or else interest rate doubles, till then the opposite pair liquidity will be locked, user needs to be overcollateralised for the liquidity pool loan, NOT FLASH LOANS, flash loans are uncollateralised and instand, in a single blockchain block.
yes the APY will be fixed, and to term it correctly we have implemented 3% profit on fixed 15 days investments, it provides a better but more volatile approach, our idea is basically flashloans liquidity pool is not that robust.
Thank you for your reply to me, from what I read that you reply, what will then happen if for example a liquidity provider just withdraw their fund before the 15 day period, thank you
He cant, he needs to withdraw after 15 days , with profit.