LendR



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    • What kind of loan will you be placing, standard 2-day-loans, or longer durations?
    • Will they be set to auto-renewal?
    • If yes, how often will you check on the loans to see if you are still offering a percentage that is in line with the average percentages at a given time? I see that the rates vary a lot, even from day to day on some of the lending coins.
    • How many total shares are there? I could find this if I added your asset in AE, but it would be nice if you wrote it here as well.

  • admin

    @Propagandalf There are 1 Billion shares in the asset - that alone makes me very wary. It might pay well initially with 150K released - but there are 1 Billion more shares sitting on the sidelines.



  • @Propagandalf Loans will be automatically made based on the best value and duration will depend. (I'm so lazy, I know)
    There are a total of 1 billion shares, which of course will never be fully released, but the payouts will neglect however many shares I own and only depend on released assets.



  • @haitch Beat me to the answer ;P, but I also made a big bank for my mining asset as well. I had, and have, no purpose to have that many but it doesn't really effect the payouts or anything else.
    Also, the burst received from each release will be reinvested.



  • OK, thanks for the answer!


  • admin

    @rapidfireman There will only ever be 2 Billion Burst - your asset is currently priced at 5 times the total possible supply of Burst. Your other asset is also priced at this level - so between your two assets you're valuing them at 10x the possible Burst Market Cap. I have a problem with that, and will not invest in those assets.You could dump your shares at 0.1 burst each and destroy my investment in your shares.



  • @haitch I completely see why you don't trust me, and I'm fine with that. If I ever make a new asset I will remember to change this, thank you 🙂


  • admin

    @rapidfireman It's not that I don't trust you - quite the opposite, I trust you, but there are simply too many shares in your asset. you can't realistically have an asset that's valued at 5x the total possible economy.



  • @haitch It technically won't be valued that much, somewhat, because I won't release all those shares. If you want to talk more closely we can do a chat.


  • admin

    @rapidfireman I trust that you won't release them all - but you can. And that's what I have an issue with. I'm sure you have the best intentions, are trustworthy - but there are 1 Billion shares of your asset you can dump on the market. I can't invest in that.



  • @haitch Thats fine, and honestly I would do the same thing if I were you. I just get a bit excited over these things and didn't thing that through.



  • @rapidfireman what you could do is make a re-release of your asset. It's simple since it has just started. If you made sale already, just buy them back or do a swap. 🙂



  • @jervis exactly @rapidfireman you say "if I ever do a new one" but there still time to recreate this one as I can see you don't have many orders at the moment, also I find 10% maintenance pretty big for what you need to do and even more that everyone can do it on his own at poloniex chequing that everything is fine once a day or less shouldn't be 10% maintenance but that's just my opinion ^_^



  • As I have experience with lending on Poloniex, (My asset Margin) I would recommend you a few things. Do some research and look for automated solutions. There is a few of them and they generate way more compared to manual lending. With my modified version, I only have to look at my lending page one a week to check rates and see if it broke.

    Your 0,07% a week is quite optimistic. It is currently 0,04% and it is falling. The rate depends on which coins are going up and which are going down, which is hard to predict. If you could do it, you should start trading instead.

    I also completely agree with @Zeus (Fee part). 10% is way too high and if someone was interest in lending bitcoins on Poloniex, you could use this service: https://www.poloniexlendingbot.com instead, and you won't risk anything. You need to make yourself competitive and having one of the highest maintenance fee isn't the way to do it.



  • @FrilledShark @Zeus I'm actually using poloniex lending bot and thats where the 10% fee comes from.



  • @rapidfireman then what is the point of this asset ? Sorry just don't understand what it has/give more than the service that already exists.



  • @Zeus Firstly, I can throw in my own funds to strengthen the funds you originally invested. I'm having trouble remembering and I will get back to you later on this, but I did have 2 strong reasons for why someone should invest into this asset. I didn't think to write it down...



  • This type of asset is similar to assets that invest in other assets for you. It is suitable for lazy people, people who do not have time to diversify their investments on their own, and for people who wish to see as much activity as possible going through the asset exchange. You can of course do it yourself, but you save time by just buying shares in the asset instead. Also, not everybody understands how to set up API and a lending bot in Poloniex's lending section, so this type of asset is perfect for newbies. Ultimately, it is always cheaper to do stuff yourself, but many of us do not have time due to having too many projects going on.

    About the 10 % fee: I think the lending bot takes a 10 % cut directly from the interest fee acquired from the different coins involved, which means that asset issuer's fee of 10 % is "double taxed" if you also take it from the dividends (someone please confirm this). However, it is only fair that the asset issuer takes a cut for doing the work, but then 5 % or lower is more appropriate.

    About the lending bot: The bot can apparently start running at a 'Bitcoin Bot Credit' of 0, and will take its 10 % cut from interest income. What exactly is the purpose of depositing btc into the credit account of the bot? Is it simply a donation to the creators of the bot, which we deposit if we are happy with using it?



  • @Propagandalf
    I have never used it, but I don't think you are able to use it for more then a given period without giving it bitcoins to run off.
    Or it might be because it won't place any offer before it got bitcoins and it will only simulate lending with 0 credits.