( a screencap of some of the progress made on the profile tab on the Hive.Loans site.)
Project Demo Update and v0.0.8 Change List
Didn't sleep at all last night. Too damn excited with the events regarding the proposal success and the incredible reception of my idea from the community. Rather than stir for hours in bed decided to put fourth some more work into the Hive.Loans site. A bunch of changes got thrown into this update, a somewhat inconclusive list of changes has been provided below for the communities pleasure.
v0.0.8 Change List:
- started a revamp of the profile page. It will allow users to see info about their HIVE account
- added a window to view lending contract data in a far more concise manner than the pool list
- user interface changes and a number of back end tweaks to help with slightly less boggy loading
- implemented groundwork for the hive.loans account recovery center based off of the work of @reazuliqbal
- improved the backers pledge list to filter out non-threshold amount deposits from showing up
- streamlined the application query routes to improve load times of data fetched from chain or DB
- account key manager set to use PGP encryption with memo encryption as well for end to end security
- began setting up the ability to view other users profiles and see their site rank and account lvl
- researching into the feasibility of offering both account ownership swaps and key threshold collateral
- entertaining the idea of offering HBD lending pools as well but only accepting HIVE collateral for hedging
The first rendition of the contract info browser is quite crude but serves the purpose for displaying information beyond what is readily available in the main lending contract pool list. It's come to my attention a number of filtering and search functions would ideally be implemented to allow users to more quickly hunt for lending contracts within their desired amount, rate and duration.
In addition to these new features being added in v0.0.8 it's been decided that on the borrowers side of things it will soon come to be that accounts who are cleared to accept lending contracts will be able to in the future create the borrowing equivalent of a lending contract in where the borrower will be able to make a loan request contract that if accepted by a lender will automatically generate a lending contract provided the lender has sufficient HIVE capital in their account balance.
By creating the lending contract equivalent of order books that you'd see on a currency exchange, it's hoped that we'll see a considerable amount of volume generated through a greater capacity to cater to demand as it arises and the change for the market to discover what types of loans and rates work best for them. The main focus is getting the HIVE lending contracts all set up and working but the opportunity to implement other financial devices not yet seen in the HIVE ecosystem under the Hive.Loans umbrella is not being tossed to the wayside quite yet..
The Backers Race to Benefactor
So far user @bestbroplayer has the top spot on the backers pledge leader board with his quite hefty pledge of 250 HIVE. With a little over 4 and a half days remaining before the benefactor rank winner is picked it's my sneaky suspicion that folks might be holding out till the last minute to try and snipe the auction like on eBay. The winner will receive a monthly payout amounting to 10% of the site revenue for life. Provided the cost of entry to attempt to dethrone @bestbroplayer is around $45 USD at this point it's likely that we'll see this number increase. The exclusive benefactor rank will provide a source of HIVE income for a long while into the future plus you're helping to pay for the development of a kick ass service that's tackling the powerdown problem head on.
Backers pledging 100 HIVE or greater will be given the Backer rank on site and receive an additional 5% increase in their maximum allowed interest rates, effectively setting their cap at 35%.
The user with the highest pledge at the point the timer runs out will be crowned with the benefactor rank and on the last day of every month receive their 10% of profit dividend deposited directly into their account. As transparency is an incredibly paramount of any service that either holds custodial funds or manages users account credentials, automated site audits will produce reports and all actions performed by users on the service service affecting P2P contracts will have it's record transcribed to the blockchain in hopes that node operators in the future can track what the Hive.Loans application state was and rebuild if need be should any centralized system holding the applications data fail, get corrupted or become inaccessible.
Note that a customJSON "breadcrumb" will be left by Hive.Loans to mark contracts being paid out, created, deleted, accepted or modified in any way. It's hoped that future releases of Hive.Loans will offer users the ability to run their own nodes to help monitor lending pool liquidity, host lending contract pools for their own HE or SMT based currency or to act as a contract repayment transaction validator in future trust based lending methods. While the decentralized P2P features like user nodes are a few releases down the road, the possibility to build a foundation here in which the ecosystem sheds the weight of having to deal with the previously nature of Hive's Long winded DPOS powerdown procedure structure and it's limitations....
Huge Shout Out to @coininstant for the Delegations!
Dude's delegated my @klye account 10,000 HP and then to top it all of I just noticed he's delegated 10,000 HP to the @hive.loans account as well. I don't know what to say man but thank you! I'll likely set up a vote mirroring bot on the account for the time being so the HP isn't just sitting there unused.
Cheers to Everyone Following Along and Supporting the Project!
( oh and if you noticed the site is in rave mode, it;s to celebrate the proposal being funded )
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Good luck for your progress on this project.
Thank you for the updates!