All of the account keys of the user lending the HIVE capital will be changed by the Hive.Loans service prior to the capital being released to the borrower, however they will be provided with both the new posting and active keys, in order to still be able to utilize their account while they are paying off the loan, which will be paid off in weekly payments via HIVE tokens that is automatically triggered into a powered down state when the loan is granted after the borrower has provided their keys and they've been changed over.
That's a long sentence, lol. But I guess the borrower's keys will be changed right? Not that from the lender?
I like the idea of a p2p lending platform for Hive. That's a great usp also for Hive, the more services the better.
But I guess the interest rate won't be sitting at 5%, thanks to the high curation+inflation rewards for having just the HP itself. I guess the interest will be higher than 13%, with fees even more than that.
On another note: I guess I would create an account, fill it up with some HP, take on out a loan to a max. interest rate and than lease it out on dlease. Like a carry trade. 😂
Only those borrowing have to worry about key stuff. Lenders will simply have to log in, deposit and set their interest and duration preferences and the system will do the rest. Then Lenders can just show up once a week or whatever to grab and withdraw their profits.
Interest rates will be lender specified with the lower end looking like 10% and the higher end looking like 30%.
No need to create an account, this service uses hivesigner for logins so you just plop your posting key into it and you should be able to access your stuff.
Jeah I guessed that, but the sentence is implicating something different but okay.
It would love to see an automatic version for that.
Will be interesting to see the rate compared to the curation and dlease. Might be worthwhile to arbitrage that.
For Lenders jeah, but for borrowing I would always create an extra account. The master key has to stay safe.