siremi
Old Alpha
- Joined
- Sep 18, 2007
- Posts
- 817
- Avatar Name
- Emi Odyssey Sir
In order to stimulate the economy and further tiering of items, a loaning system without collateral is needed.
The loan system will generate markup in the economy, as Investors are motivated to buy items that generate revenue via rent and provide markup opportunities for tiering components and materials. High tier items generate more rent income.
On the renting side, there is a need to specialize in different professions e.g. rifle, handgun, melee as part of the natural avatar progression.
This simple system below will ensure a safe and secure rent environment while removing the need for any collateral, as it is system enforced.
=== Loan Deed System (without collateral) ===
Requirements:
* Re-use already existing game mechanics to create a automatic loaning system without collateral
* Create a new table to store the loan deeds, RatePerDayAmountPED, ReservedTTValue, ExpirationDate
=> A system fee e.g. 3% of `RatePerDayAmountPED` can be charged by system for the service
* Loan Deed is created between two users, Alice (Owner) and Bob (Renter)
=> Alice places the item into a window to create the loan
=> Item should be fully repaired
=> Alice defines RatePerDayAmountPED (required, can be 0) and ExpirationDate (required)
=> Bob is presented with Loan Quote from Alice (Item, RatePerDayAmountPED, and ExpirationDate)
=> If acceptable, Bob needs to place PED amount of
-> ( RatePerDayAmountPED * (ExpirationDate - TodayDate) + ItemFullTTValue )
-> ItemFullTTValue is added to escrow to guarantee return of item back to owner with full TT value
-> e.g. rate of 100 PED / day with expiration in 7 days and item TT of 1000 PED, Bob needs to add (100*7 + 1000 = 1700 PED)
* Once the loan is created, the Item is automatically protected and non trade-able
=> The funds are put into escrow in the loans table
=> Should insert RatePerDayAmountPED, ReservedTTValue, ExpirationDate
=> The loan deed should always be accessible by both Alice and Bob
* At the conclusion of the `ExpirationDate`, Bob (Renter) does not need to do anything (a scheduler / cron can run this)
=> The item is automatically repaired using `ReservedTTValue`
-> Any remaining PED value after automatic repair is returned to Bob (Renter)
=> The item and `RatePerDayAmountPED` is forwarded / returned to Alice (Owner)
=> Alice and Bob receive an in-game mail / receipt about the conclusion of the loan with amounts
=> The loan is successfully completed.
* Additional functionality
=> Loan offers tab in auction where users are able to see offers of items for loan
-> e.g. Alice does not need the item at the moment, so she creates a loan offer similar to how an auction is created for an item
=> Bob is able to browse / view loan offers in the auction system and take best offers
Feedback welcome
The loan system will generate markup in the economy, as Investors are motivated to buy items that generate revenue via rent and provide markup opportunities for tiering components and materials. High tier items generate more rent income.
On the renting side, there is a need to specialize in different professions e.g. rifle, handgun, melee as part of the natural avatar progression.
This simple system below will ensure a safe and secure rent environment while removing the need for any collateral, as it is system enforced.
=== Loan Deed System (without collateral) ===
Requirements:
* Re-use already existing game mechanics to create a automatic loaning system without collateral
* Create a new table to store the loan deeds, RatePerDayAmountPED, ReservedTTValue, ExpirationDate
=> A system fee e.g. 3% of `RatePerDayAmountPED` can be charged by system for the service
* Loan Deed is created between two users, Alice (Owner) and Bob (Renter)
=> Alice places the item into a window to create the loan
=> Item should be fully repaired
=> Alice defines RatePerDayAmountPED (required, can be 0) and ExpirationDate (required)
=> Bob is presented with Loan Quote from Alice (Item, RatePerDayAmountPED, and ExpirationDate)
=> If acceptable, Bob needs to place PED amount of
-> ( RatePerDayAmountPED * (ExpirationDate - TodayDate) + ItemFullTTValue )
-> ItemFullTTValue is added to escrow to guarantee return of item back to owner with full TT value
-> e.g. rate of 100 PED / day with expiration in 7 days and item TT of 1000 PED, Bob needs to add (100*7 + 1000 = 1700 PED)
* Once the loan is created, the Item is automatically protected and non trade-able
=> The funds are put into escrow in the loans table
=> Should insert RatePerDayAmountPED, ReservedTTValue, ExpirationDate
=> The loan deed should always be accessible by both Alice and Bob
* At the conclusion of the `ExpirationDate`, Bob (Renter) does not need to do anything (a scheduler / cron can run this)
=> The item is automatically repaired using `ReservedTTValue`
-> Any remaining PED value after automatic repair is returned to Bob (Renter)
=> The item and `RatePerDayAmountPED` is forwarded / returned to Alice (Owner)
=> Alice and Bob receive an in-game mail / receipt about the conclusion of the loan with amounts
=> The loan is successfully completed.
* Additional functionality
=> Loan offers tab in auction where users are able to see offers of items for loan
-> e.g. Alice does not need the item at the moment, so she creates a loan offer similar to how an auction is created for an item
=> Bob is able to browse / view loan offers in the auction system and take best offers
Feedback welcome
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