Topic: [ANN][POS][MASTERNODE]⚡️PayDay-Unique global loan mechanism based on blockchain⚡ - page 41. (Read 33514 times)

Quote from: birds_ain on April 26, 2018, 11:23:31 AM

Quote from: ottomans_enigma on May 04, 2018, 07:08:40 PM

Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?

Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.

Yes, I've already joined them, thanks!
That's an interesting. But where are this insurance money come from? Who pays them?

If you look through the whitepaper, you'll be able to find that info.
Part of money will be paid by the KYC masternode by itself. To get a reward you'll have to check the loan details properly and risk by your own money.

Ah..thank you for the explanation.
Now I got it

Do you think will there be a lot of KYC masternodes? Who will risk by their own money?

Hey, guys!
I think that the profit will be bigger than risks. Also the risk makes KYC masternod owners to check the details on exch loan more properly

The risk won't be so big. There will be a couple of masternodes which share risks and profits according to the WP.

You are joyful :-\We can`t say that the risks won`t be great. In that project there are a lot of risks. So they can`t be called small.

hey @Kerandias What risks in particular are you talking about?

fromyesterday12

newbie

Activity: 35

Merit: 0

I think that this is a very nice listing of the stock in the stock market, the more it is listed in the stock market, the more the price increases. I think we need to focus on the quantity more than stock names.

That's a wise idea, thanks!
Team, get us listed on some exchange and fly tothemooon!

ottomans_enigma

member

Activity: 280

Merit: 10

I think that this is a very nice listing of the stock in the stock market, the more it is listed in the stock market, the more the price increases. I think we need to focus on the quantity more than stock names.

genesiscrypto

newbie

Activity: 24

Merit: 0

Quote from: new_conquistador17 on May 04, 2018, 04:58:23 PM

Quote from: bpcguy on May 04, 2018, 04:34:19 PM

Quote from: new_conquistador17 on May 04, 2018, 04:18:47 PM

Quote from: new_conquistador17 on May 04, 2018, 09:16:35 AM

Quote from: birds_ain on April 29, 2018, 06:20:09 AM

Quote from: birds_ain on April 26, 2018, 11:23:31 AM

Quote from: birds_ain on April 29, 2018, 06:32:59 AM

Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?

Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.

Yes, I've already joined them, thanks!
That's an interesting. But where are this insurance money come from? Who pays them?

@bpcguy, that's quite easy, e.g.: the borrower comes up. KYC masternode checked their ID. Auditor checked their docs for credit purpose. After that KYC and Auditor have to kinda vouch for them. KYC masternode freezes a part of their stake as a guarantee, that the ID is checked well. So do the auditors (more than one) - freeze their parts. If money is not returned, these frozen stakes go to loaners (wallets owners issuing the loan). If money is returned, than these parts are not frozen anymore and can be used for further work. And all participants get their interest. The network will adjust the insurance deposit by inself. In case of 10% of non-returns the system will require 10%+ interest rate of all insurance deposit. E.g.: 2% money from KYC, 8% money from 4 Auditor - so 2% from everyone. However, according to BRAC report (http://www.brac.net/sites/default/files/BRAC-at-a-glance-december-2012.pdf , page 3 ) and Muhammad Yunus experience repayment rate is 98.76%

I don`t quite understand what is the benefit for us now in acquiring your tokens? Will we have any special conditions on the platform afterwards?

The benefit is profit, we are all here by way of profit

Which way can we get any profit?? I can't afford to buy a node, but I want to start mining.

You can try the airdrop and bounty. They'll give you free tokens!

I'm talking about another ways. Maybe, decrease the cost of the node.

Did you think about the team? How would they get revenue if they decreased the cost of the node?

cryptasya

newbie

Activity: 27

Merit: 0

Hey guys, check our introduction video on youtube! It may channel you into PayDay's initial concept and some forthcoming events. Enjoy!

https://youtu.be/FpFnk5xpPvA

I've just seen the video. Great job!

new_conquistador17

newbie

Activity: 32

Merit: 0

Quote from: bpcguy on May 04, 2018, 04:34:19 PM

Quote from: new_conquistador17 on May 04, 2018, 04:18:47 PM

Quote from: new_conquistador17 on May 04, 2018, 09:16:35 AM

Quote from: birds_ain on April 29, 2018, 06:20:09 AM

Quote from: birds_ain on April 26, 2018, 11:23:31 AM

Quote from: new_conquistador17 on May 04, 2018, 04:18:47 PM

Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?

Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.

Yes, I've already joined them, thanks!
That's an interesting. But where are this insurance money come from? Who pays them?

@bpcguy, that's quite easy, e.g.: the borrower comes up. KYC masternode checked their ID. Auditor checked their docs for credit purpose. After that KYC and Auditor have to kinda vouch for them. KYC masternode freezes a part of their stake as a guarantee, that the ID is checked well. So do the auditors (more than one) - freeze their parts. If money is not returned, these frozen stakes go to loaners (wallets owners issuing the loan). If money is returned, than these parts are not frozen anymore and can be used for further work. And all participants get their interest. The network will adjust the insurance deposit by inself. In case of 10% of non-returns the system will require 10%+ interest rate of all insurance deposit. E.g.: 2% money from KYC, 8% money from 4 Auditor - so 2% from everyone. However, according to BRAC report (http://www.brac.net/sites/default/files/BRAC-at-a-glance-december-2012.pdf , page 3 ) and Muhammad Yunus experience repayment rate is 98.76%

I don`t quite understand what is the benefit for us now in acquiring your tokens? Will we have any special conditions on the platform afterwards?

The benefit is profit, we are all here by way of profit

Which way can we get any profit?? I can't afford to buy a node, but I want to start mining.

You can try the airdrop and bounty. They'll give you free tokens!

I'm talking about another ways. Maybe, decrease the cost of the node.

bpcguy

newbie

Activity: 56

Merit: 0

Quote from: new_conquistador17 on May 04, 2018, 09:16:35 AM

Quote from: birds_ain on April 29, 2018, 06:20:09 AM

Quote from: birds_ain on April 26, 2018, 11:23:31 AM

Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?

Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.

Yes, I've already joined them, thanks!
That's an interesting. But where are this insurance money come from? Who pays them?

@bpcguy, that's quite easy, e.g.: the borrower comes up. KYC masternode checked their ID. Auditor checked their docs for credit purpose. After that KYC and Auditor have to kinda vouch for them. KYC masternode freezes a part of their stake as a guarantee, that the ID is checked well. So do the auditors (more than one) - freeze their parts. If money is not returned, these frozen stakes go to loaners (wallets owners issuing the loan). If money is returned, than these parts are not frozen anymore and can be used for further work. And all participants get their interest. The network will adjust the insurance deposit by inself. In case of 10% of non-returns the system will require 10%+ interest rate of all insurance deposit. E.g.: 2% money from KYC, 8% money from 4 Auditor - so 2% from everyone. However, according to BRAC report (http://www.brac.net/sites/default/files/BRAC-at-a-glance-december-2012.pdf , page 3 ) and Muhammad Yunus experience repayment rate is 98.76%

I don`t quite understand what is the benefit for us now in acquiring your tokens? Will we have any special conditions on the platform afterwards?

The benefit is profit, we are all here by way of profit

Which way can we get any profit?? I can't afford to buy a node, but I want to start mining.

You can try the airdrop and bounty. They'll give you free tokens!

new_conquistador17

newbie

Activity: 32

Merit: 0

Quote from: new_conquistador17 on May 04, 2018, 09:16:35 AM

Quote from: birds_ain on April 29, 2018, 06:20:09 AM

Quote from: birds_ain on April 26, 2018, 11:23:31 AM

Quote from: danimadebangbangchui on May 04, 2018, 08:34:21 AM

Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?

Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.

Yes, I've already joined them, thanks!
That's an interesting. But where are this insurance money come from? Who pays them?

@bpcguy, that's quite easy, e.g.: the borrower comes up. KYC masternode checked their ID. Auditor checked their docs for credit purpose. After that KYC and Auditor have to kinda vouch for them. KYC masternode freezes a part of their stake as a guarantee, that the ID is checked well. So do the auditors (more than one) - freeze their parts. If money is not returned, these frozen stakes go to loaners (wallets owners issuing the loan). If money is returned, than these parts are not frozen anymore and can be used for further work. And all participants get their interest. The network will adjust the insurance deposit by inself. In case of 10% of non-returns the system will require 10%+ interest rate of all insurance deposit. E.g.: 2% money from KYC, 8% money from 4 Auditor - so 2% from everyone. However, according to BRAC report (http://www.brac.net/sites/default/files/BRAC-at-a-glance-december-2012.pdf , page 3 ) and Muhammad Yunus experience repayment rate is 98.76%

I don`t quite understand what is the benefit for us now in acquiring your tokens? Will we have any special conditions on the platform afterwards?

The benefit is profit, we are all here by way of profit

Which way can we get any profit?? I can't afford to buy a node, but I want to start mining.

bpcguy

newbie

Activity: 56

Merit: 0

any aiirdrop now?

I want to take part in the Airdrop too!
Please, admin, start a new one!

nucriptobomb

newbie

Activity: 33

Merit: 0

Quote from: capricorn121 on May 04, 2018, 09:29:53 AM

Quote from: sheloa on May 04, 2018, 09:26:53 AM

Quote from: birds_ain on April 29, 2018, 06:32:59 AM

Hey guys, check our introduction video on youtube! It may channel you into PayDay's initial concept and some forthcoming events. Enjoy!

https://youtu.be/FpFnk5xpPvA

Did your team interview the publications? It would be interesting to read

Apparently marketing doen`t work well for the project. I also want to read the interview. Admins we are waiting for

Have you seen the bounty and airdrop? Team will provide more marketing later!

capricorn121

newbie

Activity: 45

Merit: 0

Quote from: sheloa on May 04, 2018, 09:26:53 AM

Quote from: birds_ain on April 29, 2018, 06:32:59 AM

Hey guys, check our introduction video on youtube! It may channel you into PayDay's initial concept and some forthcoming events. Enjoy!

https://youtu.be/FpFnk5xpPvA

Did your team interview the publications? It would be interesting to read

Apparently marketing doen`t work well for the project. I also want to read the interview. Admins we are waiting for

sheloa

newbie

Activity: 61

Merit: 0

Quote from: birds_ain on April 29, 2018, 06:32:59 AM

Hey guys, check our introduction video on youtube! It may channel you into PayDay's initial concept and some forthcoming events. Enjoy!

https://youtu.be/FpFnk5xpPvA

Did your team interview the publications? It would be interesting to read

Hitchcock

newbie

Activity: 86

Merit: 0

Quote from: new_conquistador17 on May 04, 2018, 09:16:35 AM

Quote from: birds_ain on April 29, 2018, 06:20:09 AM

Quote from: birds_ain on April 26, 2018, 11:23:31 AM

Quote from: Ofcifreak on May 04, 2018, 09:03:00 AM

Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?

Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.

Yes, I've already joined them, thanks!
That's an interesting. But where are this insurance money come from? Who pays them?

@bpcguy, that's quite easy, e.g.: the borrower comes up. KYC masternode checked their ID. Auditor checked their docs for credit purpose. After that KYC and Auditor have to kinda vouch for them. KYC masternode freezes a part of their stake as a guarantee, that the ID is checked well. So do the auditors (more than one) - freeze their parts. If money is not returned, these frozen stakes go to loaners (wallets owners issuing the loan). If money is returned, than these parts are not frozen anymore and can be used for further work. And all participants get their interest. The network will adjust the insurance deposit by inself. In case of 10% of non-returns the system will require 10%+ interest rate of all insurance deposit. E.g.: 2% money from KYC, 8% money from 4 Auditor - so 2% from everyone. However, according to BRAC report (http://www.brac.net/sites/default/files/BRAC-at-a-glance-december-2012.pdf , page 3 ) and Muhammad Yunus experience repayment rate is 98.76%

I don`t quite understand what is the benefit for us now in acquiring your tokens? Will we have any special conditions on the platform afterwards?

The benefit is profit, we are all here by way of profit

new_conquistador17

newbie

Activity: 32

Merit: 0

Quote from: sheloa on May 04, 2018, 08:56:37 AM

Quote from: Hitchcock on May 04, 2018, 08:53:59 AM

Quote from: cryptasya on April 29, 2018, 04:14:38 AM

Quote from: Ofcifreak on April 29, 2018, 03:40:11 AM

Quote from: cryptasya on April 29, 2018, 03:31:48 AM

Any updates, admin?
I tried to reach the telegram chat, but it seems there is some problems for all the european users, and it doesn't work Huh

That's a main reason why all of us should use decentralized systems on blockchain

We should create a decentralized telegram! Or maybe the payday team willl take that as idea for another project!

Already there are such projects. But ⚡️PayDay team can offer better solution

I'm interested to know examples projects. I haven`t met yet. I think the team will be able to perform any task

I dont think that it will be correct to give names to these projects in this thread, but I can write you examples in a private message. Yes, I agree, the team can perform any task

Interestingly, I would also like to know examples of successful projects. I think everyone is interested. Because I haven`t seen this before. It seems to me that the messenger based decentralized systems on blockchain could become popular

Problems with messengers is a disaster. Today I had such a problem. So I can agree the idea is excellent

new_conquistador17

newbie

Activity: 32

Merit: 0

Quote from: birds_ain on April 29, 2018, 06:20:09 AM

Quote from: birds_ain on April 26, 2018, 11:23:31 AM

Quote from: sheloa on May 04, 2018, 08:56:37 AM

Hello everyone,I just started to study information about the project. I would like to know more information about the insurance structure. How will this be realized?

Hi @bpcguy and welcome to our project! Have you joined our Telegram and Discord already? Back to your question: When issuing a loan, insurance coverage works the following way:
1. A part of the credit body concerning no return is secured with KYC Masternodes stake (don't mess with PoS masternode, these are different masternodes)
2. Another part of the loan body in case of no return is guaranteed with Auditor Masternodes stake
3. The total amount of the support entirely depends on the level of the risk of the application. The higher the risk, the more security deposit to be required by the network.

Yes, I've already joined them, thanks!
That's an interesting. But where are this insurance money come from? Who pays them?

@bpcguy, that's quite easy, e.g.: the borrower comes up. KYC masternode checked their ID. Auditor checked their docs for credit purpose. After that KYC and Auditor have to kinda vouch for them. KYC masternode freezes a part of their stake as a guarantee, that the ID is checked well. So do the auditors (more than one) - freeze their parts. If money is not returned, these frozen stakes go to loaners (wallets owners issuing the loan). If money is returned, than these parts are not frozen anymore and can be used for further work. And all participants get their interest. The network will adjust the insurance deposit by inself. In case of 10% of non-returns the system will require 10%+ interest rate of all insurance deposit. E.g.: 2% money from KYC, 8% money from 4 Auditor - so 2% from everyone. However, according to BRAC report (http://www.brac.net/sites/default/files/BRAC-at-a-glance-december-2012.pdf , page 3 ) and Muhammad Yunus experience repayment rate is 98.76%

I don`t quite understand what is the benefit for us now in acquiring your tokens? Will we have any special conditions on the platform afterwards?

Ofcifreak

member

Activity: 105

Merit: 10

Quote from: Hitchcock on May 04, 2018, 08:53:59 AM

Quote from: cryptasya on April 29, 2018, 04:14:38 AM

Quote from: Ofcifreak on April 29, 2018, 03:40:11 AM

Quote from: cryptasya on April 29, 2018, 03:31:48 AM

Any updates, admin?
I tried to reach the telegram chat, but it seems there is some problems for all the european users, and it doesn't work Huh

That's a main reason why all of us should use decentralized systems on blockchain

We should create a decentralized telegram! Or maybe the payday team willl take that as idea for another project!

Already there are such projects. But ⚡️PayDay team can offer better solution

I'm interested to know examples projects. I haven`t met yet. I think the team will be able to perform any task

I dont think that it will be correct to give names to these projects in this thread, but I can write you examples in a private message. Yes, I agree, the team can perform any task

Interestingly, I would also like to know examples of successful projects. I think everyone is interested. Because I haven`t seen this before. It seems to me that the messenger based decentralized systems on blockchain could become popular

sheloa

newbie

Activity: 61

Merit: 0

Quote from: Hitchcock on May 04, 2018, 08:53:59 AM

Quote from: cryptasya on April 29, 2018, 04:14:38 AM

Quote from: Ofcifreak on April 29, 2018, 03:40:11 AM

Quote from: cryptasya on April 29, 2018, 03:31:48 AM

Any updates, admin?
I tried to reach the telegram chat, but it seems there is some problems for all the european users, and it doesn't work Huh

That's a main reason why all of us should use decentralized systems on blockchain

We should create a decentralized telegram! Or maybe the payday team willl take that as idea for another project!

Already there are such projects. But ⚡️PayDay team can offer better solution

I'm interested to know examples projects. I haven`t met yet. I think the team will be able to perform any task

I dont think that it will be correct to give names to these projects in this thread, but I can write you examples in a private message. Yes, I agree, the team can perform any task

Hitchcock

newbie

Activity: 86

Merit: 0