Topic: [WANT] 6000 USDC Secured Loan (Read 547 times)

Fear from the collateral being liquidated.  The lender isn't affected by my actions.
If the collateral falls to 110% of the value it gets sold. If there's a stop-loss for that amount there's no risk.
However, I am free to send more RSR in order to move the stop loss to a higher price in order to avoid my collateral getting liquidated.


This could work with an escrow.

However, since it's been some time since then I am currently reevaluating my options. Perhaps I come back.

Can you clarify this discrepancy?  What forces you to send more when you already have your loan?

I saw this a while back but refrained from posting, as you stopped posting and I thought you found another way to finance this loan. Since you have posted again, I might as well throw something in here.

I wouldn't mind doing this. Obviously my account is new, like yours, so I can see how you might be wary considering me at all but I can sign an address with over 8 BTC in it just so you could at least see that I'm not another troll. Escrow is fine but you'd have to pay it (escrows on this forum usually charge 1% - so you can visualize that being added to the monthly rate). Would want 5% a month, with 120% collateralization, and 110% stop-loss (which you seemed to be fine with in your previous posts).

I don't know how to set this up. But I am aware of the risk.


This is too much for me. It involves risk as well.

While the loan shark has no risk as he can't scam me since he doesn't require collateral. And he has the same rate. 10%.

I'm not, but there is no profit here.
A 3% per month loan on this amount is $180 a month. There are other lending opportunities here and other places that are 3x to 4x that.

1st line from the 1st post


There is a reason for that.
When people are putting out loans at 15% a month and will not even accept 5x the amount of your loan amount with that token as collateral for it really is just an unsecured loan.
So for me the risk / reward is not there. Not saying it does not work for someone else.

-Dave

But why be critical of this person taking out loans to gamble when there is another (ban evasion) user who is doing the same thing and you are facilitating their loans - why cherry pick who you are critical of when they are both lending to gamble?

Technically this loan *is* gambling. Since even with a 150% security having it go off at 110% Eternad can still take a hit if it blows through the sell level without support.
We have all seen it happen with these tokens / alts, all of a sudden there is 0 support / buys for anything close to where it was.

-Dave

The contract holding the collateral until the borrower receives funds is all you need.   If the borrower agrees with your plan, neither of you needs any more protection.

Thanks Vod for pointing this out. This is actually one of my concerns on this deal since there’s no way OP will trust me immediately with an amount over the loan amount.

But I doubt a smart contract will work here since the collateral needs to be put at stop-limit order in able to secure the amount of collateral to 110% price margin. If a smart contract can do this then I don’t have any problem using that given that it’s not complicated and can be verified easily.

OP - I suggest you set up a smart contract for this.  You sending $9000 to Eternad is risky, since he has little history and a lot of gambling posts.

Escrows on here charge expensive fees for what a smart contract does automatically, and often the escrow provides no additional protection at all.

Good luck! 

I can fulfill this loan but with 150% collateral of the loan amount. Also the collateral will automatically liquidated since I will setup a stop loss on a price which the amount will be 110% value. You can always top up your collateral to avoid liquidation but inform before doing it.

I can offer you 10% monthly interest for the loan. Just let me know through PM if you agree to my terms since I might not visit again this thread. Most importantly, I will need to secure the collateral before I provide you the loan amount.

I'm well aware of the libertarian aspect of the original Bitcointalk.
Ofcourse they don't. Because they want to avoid taxes.

But that means they don't use centralized exchanges.
Which eliminates them from this job.

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Either way, the lender can follow prices on his own and execute on a DEX if his intention is to stay anonymous.

You don't understand bitcointalk and it's users. Here people do not appreciate KYC but that does not mean they are scammer or have any malicious intend. You need to find a good lender who have good reputation and stable trading history. There are many members who provide escrow service too, you can escrow the funds if you do not feel safe with the lender.

https://etherscan.io/address/0x9CdcbAF129e8a4D07e5D2970f88e13FaE96b238C

You can see eUSDRSR which is staked RSR. However, before the loan I would unstake it so it would be RSR.

If Binance would delist it, it would inform the users in advance. However, why would it delist a $20 million daily volume token?
Even if such a scenario would play out, the lender is still perfectly safe since there's OKX, HTX, Kucoin, Gate, Curve, it's even on Crypto.com
Even if it somehow got delisted on all of them eventhough it has dozens of millions in daily volume consistantly, the lender would still know in advance and have time to respond.

If the lender is afraid of KYC, he's likely a high risk lender.

Good to know, I hope someone can check the balance. I don't know which explorer to use.

There is the risk for delisting too but the exchange will inform it at least a few weeks before they delist. When the tokens are taken in the exchange then there is a risk for KYC too. But I think for a good lender none of it will matter. You need to find a good one. Check this section and you will fine some lenders, try to PM them personally.

I don't make assumptions because most of you if not all are indiffirent.
I make assumptions because there are no other options.

What I meant with in this reply are things that are just flat-out wrong. What else can one assume with replies like these?


Flat out wrong. That's a 0 risk transaction. The users who wrote these comments didn't read or research the thread. How can it be otherwise?


Wrong. How can a stop loss on Binance with Ethereum or Bitcoin be different than one with RSR?


Just flat out wrong. User didn't do his research.



My problem,
Not the lenders problem.
That's kind of the point of lending  


If a fully collateralized Binance token doesn't fit these standards, what does? BTC,ETH? Those are on AAVE and Compound, why would anyone use Bitcointalk? They're the same. It's the same stop loss on the same Binance  

They didn't bother to read the thread. Is there any other explanation?

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Ofcourse. I just made an offer for the interest. It's not fixed. I wanted to see what the offers would be.

I was hoping to see a discussion on this. I was expecting replies concerning this.
The thread moved into a completely bogus territory.

I wanted to see what people would require in interest for such a deal. This is what I still want.


There wasn't a single reply about the interest rate. Which further proves what I outlined before ^.
You are the first one who actually said anything about the offer.

You make assumptions just because your offer leaves most of us (if not all), indifferent. That doesn't mean that the reason is your token. For me, it's the interest and of course the USDC. If somebody thinks or feels that your offer is high risk, fine. It's up to them to decide and express their thoughts and their opinion. We don't all have the same "risk meter", as we don't all have the same "value" meter.

Yes.

3 options here.

1. They're just bumping their signature campaign posts and didn't even bother to check the post or the comment.
2. They've instantly judged me for my newbie account as 99% of newbies asking for loans are scammers and didn't even bother to check or read.
3. They are braindead.

Binance listed, $20 million daily volume, $45,000 available collateral for a $6000 loan, risky lol

I don't know why some of the posters say this is high risk collateral. It's listed in every exchange there is and with a stop loss it can easily be liquidated in multiple exchanges at the same time, there's ~ 20 million volume in the last 24 hours. I took a loan once and offered STORJ as collateral, it currently has half that volume in the last 24 hrs. I don't see any risks here except for whatever OP is taking on.

How is it high risk?

You set a stop loss. There's literally no risk involved.

View my previous post ^

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.

Trusted members only.