Proposal: Add Lender Loan Request Feature to AADA v1 (Implemented)

Graveyard
1

Proposal:
I would like for a Lender loan request feature to be added to AADA v1.

Description:
Currently only the demand side (Borrowers) are able to initiate a loan request, while the supply side (Lenders) are not able to. Borrowers are unable to see what interest rates, health factors, terms, types of collaterals, or principles that are desired by Lenders; thus, causing Borrowers to create blind loan requests without seeing the types of loans that are sought by Lenders. This causes an illiquid market as many Borrowers create loan requests that are left unfulfilled at no fault to themselves, as they are not able to compare their requests to the loan requests desired by a Lender. By allowing Lenders to create their own loan requests it will increase loan liquidity by giving Borrowers the ability to immediately accept a Lender’s request and get their loan; while, also being able to reference Lenders’ loan requests when creating their own allowing Borrowers to create loan requests that are more likely to be accepted by a Lender.

Summary:
By allowing Lenders to create their own loan requests it will directly add more liquidity to the market; while, at the same time indirectly increasing liquidity by allowing Borrowers to see what loans are desired by Lenders before requesting their own so they can create a more market friendly loan request.

3 Likes
2

Sounds good, are there any forseeable downsides?

3

I see 2 main downsides when implementing this feature.

  1. This would cause the amount of collateral held by AADA to increase as Lenders create loan requests, so it may increase the amount of people who look for bugs to exploit and take these assets.

  2. The added feature may have bugs that someone can use to exploit that may not have existed if this feature was never added.

1 Like
4

We need lender feature because people are not been fair with the loan amount they want to borrow!! People are abusing the system so we need the feature where Lenders can offer good rate loans without feeling like we taking a loss!!

5

We need this feature asap

6

This has already been announced as an upcoming feature by the Aada team a month ago in the AMA with VyFi (https://twitter.com/VyFiOfficial/status/1570115772038500355?s=20&t=VU7OLT8FwBu8TEqdIyoQDQ) and on our Twitter 10 days ago (https://twitter.com/AadaFinance/status/1582693340902215681?s=20&t=VU7OLT8FwBu8TEqdIyoQDQ). I don’t understand why it has to be specifically proposed by the DAO. You should follow our social media more closely.

1 Like
7