RE: Power Cooldown

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First of all, starting a post with the Shadow Priest skills is an instant win.

Regarding an instant power down with cool down sounds like a fun experience. To counter the potential abuse, there could be a 1/13th penalty for all new power-ups for one week on their upvote power. It is not that much to make a difference for anyone who powers up but takes out beforehand, what could be taken out eventually when powering down.

Isn't there the dev funding for a proposal of @klye to build some form of leveraging of the Hive Power, allowing for instant liquidity? I am not sure how that works but sounds at first like something that would also give the ability to sell at a market peak, while then being able to power down and pay the debt later.

Posted Using LeoFinance Beta



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Yeah. I've got an account as collateral lending service coming out here in the next month or so. Should vastly increase HIVE users ability to capitalize on market swings provided they are willing to give up their account ownership temporarily to do so. They'll still remain in control of being able to post and whatnot, however their main owner key will be held by the service until all loans are paid back. :)

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Where does the liquidity come from? And has any individual like yourself access to the owner key?

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Liquidity comes from users posting amounts of HIVE they wish to loan out, the duration of the loan and the interest rate they wish to receive. From there it's put into a contract that users can accept by relinquishing their account keys to the site. The owner key will get encrypted a few different ways and shoved in the database only to be decrypted on the borrowers client later on after they've paid back their loan.

Eventually I might set it up that a smart contract completely ends up owning the site and I don't have access to all of the data like I do now. During development though it's one of those things you almost need access to to make sure everything is running right and be able to fix mistakes.

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That is such a cool system. Congrats for developing this smart system. I remember voting for the proposal but I didn't grasp the entire thing fully. Looking forward to make use of this. In times were common interest loans can easily be paid back with tons of opportunities around, this seems like a massively useful feature!

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It started out as a somewhat simple idea to do loans by swap accounts ownership as collateral for lending.. Then when I realized that I should probably decentralize the thing a bit better the idea of getting a side chain going that I could write proper smart contracts on came to me..

It should be a decent attempt at really improving HIVE utility and quality of life for users. :)

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