I've been thinking about what to do with Starfish for a while. This partly because of timing over the last few weeks with net withdrawals being high including a net 1700 in the past week. This is on top of honouring 6000BTC of BS&T payments after Pirate inopportunely froze fund transfers. I have also been addressing some particular questions about repayment times because many of the Starfish assets are longer term loans or investments.
Options have included forced withdrawals, lowering rates, setting fixed repayment times/delays. What I intend doing is allow the outstanding loans to be repaid on their current schedule and use the funds to continue to meet withdrawal requests as and when they occur. As some of these extend three to six months, it is going to take a while as borrowers are not able to magically come up with funds, otherwise they would not have borrowed in the first place.
I have a commitment to return 750BTC at the end of the month for someone already that will be met, Otherwise, withdrawals will be processed in order with the balance to be paid confirmed at the time the request is made. I am not accepting new accounts or deposits.
Options have included forced withdrawals, lowering rates, setting fixed repayment times/delays. What I intend doing is allow the outstanding loans to be repaid on their current schedule and use the funds to continue to meet withdrawal requests as and when they occur. As some of these extend three to six months, it is going to take a while as borrowers are not able to magically come up with funds, otherwise they would not have borrowed in the first place.
I have a commitment to return 750BTC at the end of the month for someone already that will be met, Otherwise, withdrawals will be processed in order with the balance to be paid confirmed at the time the request is made. I am not accepting new accounts or deposits.
Here is that liquidity crunch I was concerned about.