This is a stupid idea, which is why we have to do it. It is about an automated loan and repayment system. It’s probably risk-based, but it depends on how you solve it.
The design may be silly, but that’s for users to judge.
I want to buy a laptop. The easiest option is to sell some cryptocurrencies and buy it, but I can also use a “Self-paying loan” system.
- I need to have a lot of cryptocurrency. For example, $10k [USDT] (of course this is a made up value). I want to buy a laptop for $3k [USDT].
- So I order the “Self-paying loan” system to deposit $10k in lending and borrow $3k in borrowing.
- (OPTIONAL?) I set the minimum interest rate that USDT can achieve from the lending, otherwise part/all of it is sold and covers the borrowing
- I receive the funds in my account.
And what happens:
- The interest rate from lending pays off the loan.
- Sovryn grows better (:P)
- We have a laptop
- If we’re lucky, the earnings from lending will exceed the value of the laptop and eventually we “got it for free”.
Isn’t it better to do …
Maybe I’m handicapped. But I am keen to know what you think.