[ANN][Token Sale] eCoinomic.net Episode One. Loans: hedge crypto - get money! - page 28.

eCoinomic

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Quote

My main concern is extreme volatility of crypto. It's possible the market of collateral asset starts dropping by let's say 40-50% in minutes, and then rebounds immediately (due to market manipulation, automated trading, fake news for the asset, etc...). I guess the smart contract will have no choice and will start selling too, won't it? This can potentially liquidate a healthy position just because of the sudden market noise. Or else, if the market isn't liquid enough your smart contract can actually intensify the sell off.

Great question, a valid concern. We plan to implement reporting system to alert users of sudden price changes.
Also in order to try and combat volatility, there's a 13m insurance fund provisioned (will be taken out of ICO hard cap, for more on funds distribution see page 6 of the WP https://ecoinomic.net/docs/eCoinomic_WP_0213.pdf)

tomkat

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Activity: 1022

Merit: 507

Quote from: eCoinomic on February 16, 2018, 09:01:08 AM

Hi tomkat, thanks for your questions.

Quote

If a user defaults, how are you going to recoup the rest of the amount due?
For instance, from a guy from China that is not going to pay back loan for his brand new miners

In this event, the crypto collateral of the user will be partially liquidated via the rules of smart contract =>sold on the exchange to repay the loan amount.
The more detailed explanation of this case can be found on page 16 of the WP https://ecoinomic.net/docs/eCoinomic_WP_0213.pdf

Quote

How exactly, the smart contract enforces the fulfillment of loan obligations?

The smart contract monitors current quotes on several exchanges, which allows an objective assessment of the current rate of crypto assets.
For more information on the inner workings of smart contract please consult page 15 of the WP

Quote

What if collateral (I guess it can be locked crypto assets) will drop significantly overnight?

In case if the current rate of crypto assets decreases by more than 10% of the valuation amount, the system alerts the client who can:
-Deposit additional funds or crypto assets to cover the difference between the value of collateral and the amount of the loan;
-Agree to the partial liquidation of collateral to repay the loan;
-Close credit line

Quote

And also, are you going to perform your own KYC/AML or use external service?

We plan KYC and AML procedures for large ICO investors using external service.

Please let us know if you have more questions

Thank you for the answers.

My main concern is extreme volatility of crypto. It's possible the market of collateral asset starts dropping by let's say 40-50% in minutes, and then rebounds immediately (due to market manipulation, automated trading, fake news for the asset, etc...). I guess the smart contract will have no choice and will start selling too, won't it? This can potentially liquidate a healthy position just because of the sudden market noise. Or else, if the market isn't liquid enough your smart contract can actually intensify the sell off.

Kena Banned

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Week 3 ( 16 - 22 )
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eCoinomic

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Activity: 161

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Hi tomkat, thanks for your questions.

Quote

If a user defaults, how are you going to recoup the rest of the amount due?
For instance, from a guy from China that is not going to pay back loan for his brand new miners

In this event, the crypto collateral of the user will be partially liquidated via the rules of smart contract =>sold on the exchange to repay the loan amount.
The more detailed explanation of this case can be found on page 16 of the WP https://ecoinomic.net/docs/eCoinomic_WP_0213.pdf

Quote

How exactly, the smart contract enforces the fulfillment of loan obligations?

The smart contract monitors current quotes on several exchanges, which allows an objective assessment of the current rate of crypto assets.
For more information on the inner workings of smart contract please consult page 15 of the WP

Quote

What if collateral (I guess it can be locked crypto assets) will drop significantly overnight?

In case if the current rate of crypto assets decreases by more than 10% of the valuation amount, the system alerts the client who can:
-Deposit additional funds or crypto assets to cover the difference between the value of collateral and the amount of the loan;
-Agree to the partial liquidation of collateral to repay the loan;
-Close credit line

Quote

And also, are you going to perform your own KYC/AML or use external service?

We plan KYC and AML procedures for large ICO investors using external service.

Please let us know if you have more questions

tomkat

hero member

Activity: 1022

Merit: 507

From your whitepaper

Quote

The valuation of the collateral can vary from 50 to 70% depending on the type of asset, user rating and application of the loyalty program.

Quote

eCoinomic smart contracts enforce the fulfillment of loan obligations and thereby protect the investments for the owners of both collateralized crypto assets and fiat funds.

If a user defaults, how are you going to recoup the rest of the amount due?
For instance, from a guy from China that is not going to pay back loan for his brand new miners

How exactly, the smart contract enforces the fulfillment of loan obligations?

What if collateral (I guess it can be locked crypto assets) will drop significantly overnight?

And also, are you going to perform your own KYC/AML or use external service?

[email protected]

sr. member

Activity: 1554

Merit: 255

payMe - P2E

did you have the innovations to grow up the price when your token has been transfarable or when already list in exchanges. I think all of people ask about that when the ico finished

rahul10948

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eCoinomic Hindi Whitepaper Completed

https://drive.google.com/open?id=1Z3MJwsU9vDl9-jIHkUrlbdku76AeRQXo

ANN and Bounty thread is already done and live at:

ANN: https://bitcointalksearch.org/topic/annico-ecoinomic-episode-one-loans-hedge-crypto-get-money-2947376

Bounty: https://bitcointalksearch.org/topic/bounty-ecoinomic-unleash-the-potential-of-crypto-assets-2946601

Thanks

eCoinomic

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Activity: 161

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Quote from: guteng on February 15, 2018, 12:36:00 AM

a good eCoinomic project can be successful and useful for financial services based on crypto assets. a nice and interesting destination

Thanks for your review guteng!

guteng

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Activity: 95

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a good eCoinomic project can be successful and useful for financial services based on crypto assets. a nice and interesting destination

rahul10948

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Activity: 378

Merit: 114

eCoinomic Hindi ANN and Bounty Thread is live at:

ANN: https://bitcointalksearch.org/topic/annico-ecoinomic-episode-one-loans-hedge-crypto-get-money-2947376

Bounty: https://bitcointalksearch.org/topic/bounty-ecoinomic-unleash-the-potential-of-crypto-assets-2946601

Whitepaper will be done in next Few Hours

Thanks

rahul10948

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eCoinomic Hindi Bounty Thread Translation is live at:

https://bitcointalksearch.org/topic/bounty-ecoinomic-unleash-the-potential-of-crypto-assets-2946601

eCoinomic

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Activity: 161

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Quote from: gobisirom on February 13, 2018, 08:02:30 AM

The eCoinomic Token (CNC) is an ERC20 utility token, based on the Ethereal blockchain. The purpose of the CNC token is to pay the service charge on the eCoinomic digital platform.
nice and interesting project, I like your project and I want to join your project. And I want to know which countries are working with your project?

Hi gobisirom, thanks for your feedback!
We plan to start with the EU countries and then to expand worldwide.

gobisirom

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Activity: 436

Merit: 250

The eCoinomic Token (CNC) is an ERC20 utility token, based on the Ethereal blockchain. The purpose of the CNC token is to pay the service charge on the eCoinomic digital platform.
nice and interesting project, I like your project and I want to join your project. And I want to know which countries are working with your project?

eCoinomic

copper member

Activity: 161

Merit: 0

Hi everyone, we're still searching for translators in Chinese, Japanese and Italian.

In case you've got someone who would be interested, feel free to show them this thread

We've also allocated additional 5% to Signature Bounty Campaign.

eCoinomic

copper member

Activity: 161

Merit: 0

Quote from: #CapsLOck on February 10, 2018, 06:18:15 PM

The project brings everything, that helps everyone to be more accessible in proccessing in terms of exchange. It is amazing that the team actually made the project possible. Its a great help.

Thanks for your feedback CapsLOck!

#CapsLOck

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The project brings everything, that helps everyone to be more accessible in proccessing in terms of exchange. It is amazing that the team actually made the project possible. Its a great help.

eCoinomic

copper member

Activity: 161

Merit: 0

Quote from: babedota on February 09, 2018, 06:29:18 AM

The project's concept of managing investment, assets, exchanges, transfers, joint settlement and security, is a very interesting project to follow and very useful in the future. hopefully his project can succeed smoothly and bnyak investors who support this project.

Hi babedota, thank you for your review.
We'll try to do our best to bring the product to market as soon as possible.

babedota

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Activity: 350

Merit: 100

The project's concept of managing investment, assets, exchanges, transfers, joint settlement and security, is a very interesting project to follow and very useful in the future. hopefully his project can succeed smoothly and bnyak investors who support this project.

eCoinomic

copper member

Activity: 161

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Quote from: hildacitra on February 09, 2018, 04:32:38 AM

this project such adopts good strategy in which you maintain promoting the project via social media. it is proven by the allocation for signature is less than for social media such as twitter, facebook, youtube, etc. since this era social media has become crucial in many ways.

Hi hildacitra, thanks for providing your feedback!

By the way, we have updated the signature sizes for the Signature campaign, to be able to promote our project better on Bitcointalk.

hildacitra

member

Activity: 378

Merit: 10

this project such adopts good strategy in which you maintain promoting the project via social media. it is proven by the allocation for signature is less than for social media such as twitter, facebook, youtube, etc. since this era social media has become crucial in many ways.

Topic: [ANN][Token Sale] eCoinomic.net Episode One. Loans: hedge crypto - get money! - page 28. (Read 18006 times)