I agree with everything based on our previous discussions. and support. Look for @threepseak putting a blog out supporting this vision later on today.
One thing where i think we are missing a little in this blog is that we already have the system in place. it can be built in fact, right now with the three day lock in. While a vastly superior system is to have the multiple lock in bond system pre-built where you lock in for X time and gt Y APR, we, in effect already have this with the 3day lock in.
we should not wait for the bond system to be built in order to start work on the repo and collateralization system you describe above. For i would already trust the 20% pay out rate on collateral with the current 3day lock in system we already have operating. particularly for short term loans. This already works fine.
Lets not wait.
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That is true. The one challenge I see is that it is a 3 day lock, not a 3 day commitment. The three day lock is only in place after one going to liquidate. If not, the lock up in simply ongoing.
With a term, you have 1 year from the date the HBD is put in. This means that we know exactly the day it will be released.
I guess you could build a system that allows to people start the liquidation process upon entering. Or perhaps a system that has it open ended. It is something I will give some thought to.
If being done on the second layer, and using for short term purposes, there certainly is some flexibility.
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