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Gillian Roibos
Federal Navy Academy Gallente Federation
0
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Posted - 2016.09.25 15:23:29 -
[1] - Quote
Hi all,
I just wanted to see what appetite is there for building a P2P secured lending platform within the Eve world. I work for one in real life and think it could be replicated within Eve, my main concern is the appetite.
It would work in two phases
Phase one - Borrowing only:
- Borrower needs money and contacts the platform (me for now) - Borrower needs say 200m ISK to upgrade to a Battleship for example, and can provide a guarantee of at least 285m ISK in unused items (70% Loan-to-value using evepraisal) - Borrower pays every month 20m ISK (10% of the loan) - When borrower manages to put aside the whole 200m ISK, then items will be returned
Phase two - Borrowing and lending: - As above for the borrowing side, plus - Lenders can invest in the fund at an 8% rate, the platform takes 2% to cover running costs
now I would start doing it with a couple of billions.
If anybody is interested in borrowing for phase one, please PM me with the amount you'd like to borrow and the evepraisal guarantee you'd like to provide, if working this can be moved to a lower touch process using contracts.
Thanks, Gillian
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Bad Bobby
Bring Me Sunshine In Tea We Trust
1521
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Posted - 2016.09.25 15:57:58 -
[2] - Quote
I don't see anything seriously wrong with your proposal or anything different from what already happens in this forum section.
However, I don't know how much demand there is for smaller loans as general loan activity here has been very thin on the ground for some time.
You say you are willing to pay 8% on money loaned to you, but how do you plan to do that?
Are you going to borrow without collateral? If so, 8% may be a little low for an unknown person, such as yourself.
Are you going to borrow with collateral? If so, 8% is way too high and you should be looking to increase your own cut on this operation. The work involved will warrant it. |
Gillian Roibos
Federal Navy Academy Gallente Federation
0
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Posted - 2016.09.25 16:15:28 -
[3] - Quote
Hi Bad Boddy,
I am planning to lend my own money at 10% initially, with collateral.
Once the operation is off the ground and gained more data and a stronger track record I would open it up to other people who want to invest.
For now I am just seeing if somebody is interested in having money lent. |
Cista2
Caldari Provisions Caldari State
271
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Posted - 2016.09.25 17:10:04 -
[4] - Quote
Gillian Roibos wrote:Hi Bad Boddy If you mean body odour, just say it out loud.
You say that you will give 8% interest on investments, while you at the same time take 2% - of the investment? That made me scratch my head.
My channel: "Signatures"
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Gillian Roibos
Federal Navy Academy Gallente Federation
0
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Posted - 2016.09.25 17:35:13 -
[5] - Quote
What I meant is that if the total interest is 10%, I would retain 2% and provide to other investors 8% to cover the cost of running the system :) |
Zad Murrard
Frozen Dawn Inc Frozen Dawn Alliance
39
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Posted - 2016.09.25 18:47:09 -
[6] - Quote
If the collateral is verified by trust 3rd party (not by you) I'm sure for 8% there be trillions of isk quite ready.
If the collateral is verified by you, well.. maybe someone will invest 100m :] |
Gillian Roibos
Federal Navy Academy Gallente Federation
0
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Posted - 2016.09.25 18:55:05 -
[7] - Quote
I was thinking to use eve-praisal as a basis. Thoughts on that? :) |
Zad Murrard
Frozen Dawn Inc Frozen Dawn Alliance
39
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Posted - 2016.09.25 19:09:01 -
[8] - Quote
By 3rd party here I meant that a 3rd party confirms here on the forum that they have the collateral. |
Bad Bobby
Bring Me Sunshine In Tea We Trust
1521
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Posted - 2016.09.26 05:24:53 -
[9] - Quote
Gillian Roibos wrote:I am planning to lend my own money at 10% initially, with collateral.
Once the operation is off the ground and gained more data and a stronger track record I would open it up to other people who want to invest.
For now I am just seeing if somebody is interested in having money lent. That's all perfectly viable.
You need to create a new thread with a title that clearly states what you are doing (i.e. "Small Loans Available Here") with a clear and concise pitch in the first post. Don't invite discussion, don't include any "maybe in the future I will" or anything like that. Then you'll need to put the link to that thread out there in-game, because the footfall in this forum section is pathetic and you're unlikely to get much passing trade.
You may want to put the thread in the Sell Orders section, it gets more activity than here and discussion isn't allowed.
Cista2 wrote:If you mean body odour, just say it out loud. I've been out gardening all day, so he's probably not wrong.
Zad Murrard wrote:If the collateral is verified by trust 3rd party (not by you) I'm sure for 8% there be trillions of isk quite ready.
If the collateral is verified by you, well.. maybe someone will invest 100m :] For small loans, I don't think a 3rd party will be viable on his outgoing loans. He would end up spending all his income on T3P fees. If he keeps the collateral to loan value close enough, then the risk to either party should be manageable.
For incoming loans, to fund the operation, then a 3rd party would probably be mandatory. I'm sure myself or one of the other regulars would put up the funding and I don't think anyone would be realistically expecting 8%, if the loan is small maybe 4%, if the loan is large then the usual 2% would apply.
Gillian Roibos wrote:I was thinking to use eve-praisal as a basis. Thoughts on that? :) It's a good way to quickly check something, or to help potential customers evaluate their own collateral before you have to spend any time on it. However, I would suggest that you sanity check the eve-praisal valuations against the market during your loan approval process.
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Skia Aumer
Sebiestor Tribe Minmatar Republic
342
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Posted - 2016.09.26 18:45:02 -
[10] - Quote
I think there will be 2 major issues. First, borrowers may think twice before contracting their hard-earned assets under the market price. This may work for distant lowsec or nullsec areas, but not for hisec. On the other hand, if you give loans at 100% of collateral, you'll end up with a LOT of assets to liquidate. Second, this activity does not scale. At the very least, you'll have to manually manage items that are given to you as collateral. Afaik, ingame browser has a feature to automatically create contracts, but IGB is discontinued soon. So you'll have to create those contracts with your own hands. You'll burn out pretty quick.
TLDR: trust and automation.
P.S. You may also be interested in watching interview with Hexxx. |
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Skia Aumer
Sebiestor Tribe Minmatar Republic
342
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Posted - 2016.09.26 19:08:03 -
[11] - Quote
When I've read the title, I thought "awesome!" But the body of the post unfortunately described yet another bank. And it will not work.
But maybe it is possible to create a service where players would indeed give loans to each other? The service would assess each side's credibility, advertise to attract borrowers and investors, and/or otherwise assist in process. Basically, take MD loan "sub-section" and bring it to a whole new level. Would it even remotely be possible? |
Toobo
Project Fruit House Solyaris Chtonium
226
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Posted - 2016.09.29 06:12:48 -
[12] - Quote
I'm sure there are lots of creative financial ventures we could do eve, totally unique or borrowed from RL concepts.
But the issue is everybody wants bank kind of a thing, a platform, but we all seen how such things end up. There r few people (or maybe only one) that people of New Eden could trust 100%, and that would be too much work for people who are capable/reliable enough to commit so much time.
Toobo is a lucky talisman - use Toobo's referral for IWI and you too can be lucky. ;)
Toobo's Loopadelic Give-Away!
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Dethmourne Silvermane
Mare Crisium Industries Test Alliance Please Ignore
119
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Posted - 2016.10.01 03:30:56 -
[13] - Quote
I'd be willing to hold collateral for a fairly nominal fee if you start doing loan matchmaking and need a third party.
Interested Party (TM)
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Solonius Rex
F0RCED ENTRY Domestic Disturbance
336
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Posted - 2016.10.12 16:10:44 -
[14] - Quote
Gillian Roibos wrote:What I meant is that if the total interest is 10%, I would retain 2% and provide to other investors 8% to cover the cost of running the system :)
You would also have to provide collateral for the investors to invest their money.
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