Topic: [WANT] 6000 USDC Secured Loan - page 2. (Read 536 times)

You dont have much choice here since your collateral is high risk. You can either take out a loan from your bank or a local loan shark, or sell part of your RSR tokens at the current market price and buy them back in a month or two. Even if the price goes up, you will still be able to buy back at least a portion of the sold tokens.  And, if you really believe in the project, and think that it could moon in the future, you wont lose much because you are still holding a substantial amount. 

I do not think you will get attractive offers here because of your collateral.

What are you even on about?
The lender can set a stop-loss at a certain price which covers 110% of the loan provided. There is no risk for the lender.
The only one carrying the risk is ME.

1. The lender can run off with the RSR if it goes up
2. RSR can go down and I will lose it while the lender keeps the USDT/USDC or whatever he set the sell order for

His only risk is Binance running away. Because the collateral will be liquidated in favor of more stablecoins than he issued either way.


How is that a problem? The lender is insured since he can set a stop loss on the market.

I have already mentioned I have around $45,000 worth of the token.


So there's a couple of options for the lender. For example, I provide $15,000 worth of RSR (2,500,000)

1. RSR goes down to $0,001, stop loss activated at $0,0025, lender gets $6,250. A net yield of 10%

2. I repay the loan. Lender gets a 3% yield per month it took me. Which is $180/month. 3 months = $510

3. RSR stays the same, I don't repay. Lender takes his net yield of 10% and sends me back the rest.

Which is the "risk" scenario?

For me there's these

1. RSR goes down, lender gets the stablecoins, I lose my bag

2. RSR doesn't hit stop-loss but I don't have money to repay so the lender sells RSR to get his 10% yield and sends me back the rest

3. Lender steals the RSR and disappears

For me the 3. one is the biggest risk. Especially since it's overcollateralized and especially if it goes up in value substantially. Which is entirely possible.

So, I literally do not understand this sort of replies as in


Considering there's literally 0 risk for the loan issuer. And a huge risk for me.

That's a no trust transaction for the loan issuer, and a risky transaction for me.

1.If RSR is $0,001 tommorow, the lender still has $6,250
2. If RSR is $0,01 tommorow, the lender can steal $30,000 or take $510 and return the rest

For me?
1. I lose my bag
2. I lose my bag or I get it back after interest

And that is your problem.
It has bounced up and down a lot.
The 15% over that @aliveNFT mentioned is not enough.
If anyone would want to take the risk you are probably looking at a 2 to 1 at a minimum so $12000 worth of the token

Add that with the lower interest rate that you are looking for it's going to be difficult to find someone to offer it.

-Dave

Nice story, but this means you will have to find a lender who cares about trusts RSR as much as you do, which may be difficult.
Any lender would have to also take the risk that if RSR falls before you pay your loan... bad luck. Do you truly believe anyone would fall for this fit this profile?

I went with this coin from $0.04 to $0.11, then to $0.002, to $0.01, and now to $0.005. I bought more with each dip. >90% crash. Still hodling.
Sell 5000€ which are going to be 10 000€ in a month? Or a 100 000€ in a year? No, thanks.

I believe in this project.

Hi dissontor !

I think that anyone who agrees to give you a loan will require at least +15% of the debt amount as collateral. You will have to take out tokens from staking and transfer them to the person who will issue the loan to you. Isn’t it easier to just sell the part you need through Binance and buy it when you need it? Or do you not want to lose money on the potential growth(x) of the token?

Yes, Reserve Rights.

0x9CdcbAF129e8a4D07e5D2970f88e13FaE96b238C

Since it's staked it currently holds 6.89M eUSDRSR which when unstaked is 7 559 088 RSR

I edited my last post before seeing your response. Please read.

And lose my collateral?

Very complicated math one have to do. The easiest math will be to take the 6000 USDC and never come back again. What do you think?
  

/*edited*/
I was looking at the RSR price in Binance: https://www.binance.com/en/trade/RSR_USDT
Are you talking about the same RSR? Post the address having 7 500 000 RSR. Others will believe that you are seriously asking for a loan.

I only registered because there's no DeFi market currently that accepts RSR as collateral.
There's a random reddit post that Fringe Finance is going to integrate it, but it's not there and Fringe Finance?

Anyways.
I own around 7 500 000 RSR which is at current prices ~$45,000. (Which I would not provide entirely, but would send more if the value drops).
Binance listed.

I am missing 5000€ to purchase a car I wish to drive for Uber during the summer (tourist area&spends much less fuel than my current one) and I wish not to liquidate my RSR which I have been holding for multiple years since I'm expecting it to grow a lot.

I'm wondering what kind of interest rates would I get?
Note, 0.5%/day etc. is completely preposterous. I can get 10%/month from a local loan shark with no collateral lol.
Since it would be heavily collateralized, I would like it to be 3%/month or so, but I'm open to offers.
It's likely going to be paid off within 3 months.

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