Marketplace Upgrade

[Zab]

I am trying to get thoughts down on how to protect everyone..

The basic problem is NEW PLAYERS asking for loans. So I am thinking a couple things

#1 New players (with less than 5 feedback) can only ask for up to 145 point loans
#2 Players with 5+ feedback can ask for up to 500 point loans

Instead of basing it on time, base it on feedback (Maybe a combo of both)


Now the question is, HOW to design the "Put the loan out there, and accept it" so both parties know what is going on.

I think the system should work in favor of the Sharks (People putting out the loans)

Sharks put out the loan figures and the required juice or payback %. You loan 145 points, I expect 155 points in 3 days or else......................????

I need to know what happens, what we do with the or else. Just negative feedback?


My initial vision is setup like this:

Loan Shark: Zab Points Loaning: 145 Interest: 25 Points Days to Payback: 5 REPAY LOAN: 170 Points (Click button to repay)
You as the Loaner, would instantly get 145 points deducted, even before someone accepts
Whenever someone says "Yes I want to take out a loan" You have the option to accept or deny. Once you accept it, the loan goes away and you have to relist it.

Now what I think from here, if you PASS the 5 days, you go into "Default" You will instantly go -170 points + 10% default penalty

A new button would pop up (In Red) Repay Defaulted Loan: 187 Points

We list all loans
We list all loans in progress
We list all defaulted loans

** Cannot get another loan until you repay your old loan, so essentially 1 loan at a time **