Just curious if you're limiting the number of loans per person/account as well as the dollar amount? For example, could a person do $250 five times?
Also, an obvious concern is what happens in the event of a tragedy on your end? If you disappear, how are transactions completed and collateral returned?
One last thing...will you be providing a list of acceptable collateral? I assume most of the major tokens/coins will be acceptable but I was thinking more of the HIVE tokens i.e. !PIZZA, OneUp, Leo, Cub, Cartel, etc. Some are obviously more liquid than others. It would be nice to know which are acceptable.
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Good point. I guess I'll update the terms to make it 1 loan per 1 form of collateral.
There are 2 people that hold all the private keys plus spINVEST so if I pop my clogs, your collateral is safe.
The collateral accepted will be HIVE, LEO are SPI to start with because they all offer excellent liquidity. Any form of collateral has to be very liquid. Dec would be an example, CUB would be a good one as well.