The potential to turn 25K - 5-10 times per day and turn it into distributions beyond anything else we could imagine is something that we thought long and hard about. If you’re aware of ANY other opportunity that comes close to or exceeds this capacity - I as a community member am 100% for going in another direction.
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The community can always renegotiate… Just for perspective - the market would allow Fivancial to borrow these amounts at a fixed fee… which is much more advantageous to Fivancial. As a community member, I am interested in cementing our position as the preferred liquidity provider since I see the potential. As a community member I can also understand continuing the Hard Money path - I just see greater potential here… I am only one guy and I guarantee I dont have the votes in my own personal wallet to swing this. What I love about the solution is that we crafted it to be mutually beneficial and mutually transparent. A true win / win.
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We would love to see if there is a calculation and justification we are not taking into consideration… we are humans and we are prone to error… otherwise this is just FUD…
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I agree - we originally had this set at 100K - since this is a proposal - it should and will have the ability to be adjusted to the will of the community - I believe a fixed amount is the best first step.
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Is there a calculation that can be shared with the community as to the costs and splits that the delegates discussed, to arrive at the number presented?
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I definitely see how this is troubling some investors. Thoughts about this idea instead. It will take a very, very long time to generate consistent volume especially if Fivancial is only releasing like, a state at a time last I remember.
BSL will give Fivancial a hard money loan at the best rate possible. This allows BSL to get its first loan out. This is will also allow staking to be tested & optimized. Fivancial can use the money however they want, like the CEX liquidity. They would just have to renew the loan after a certain time period.
This would be a great achievement accomplishing something that originally sold the investors of BankSocial.
In the future we can resurface this topic again when it feels right.
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Both can still technically happen. It is a low percentage taken from SLP that can be reevaluated and changed if needed. I see no issue with it. Get the ball rolling.
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This is true too. Two different revenues for the investors, one from CEX and one from Loans. Sounds good. Let’s see what everyone else has to say.
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Why would Fivavcial want to take on debt? I imagine the money is not flowing ATM. What if the exchange takes off, we lose the daily percentage that could occur. We are left with 6% over the course of 6 months. The exchange is a volume play and I like the chances.
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That’s why I said I like your suggestion of both happening because we got both sides covered if one doesn’t do hot at the start at least we have the other.
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Just throwing thoughts out. Trying to make sure I communicate here and not just Telegram. Most of the time things get lost in Telegram when they should also be stated here.
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So am I. Again, I like your suggestion of both happening at the same time. Just trying to be realistic about the expectations and outcomes.
In the end honestly whatever happens, happens. Just sharing an idea.
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We thought about this idea as well it works great for Fivancial actually cause we can lock in 12 months with a hard money loan… and only pay 200-300$ per month… even if the rate was higher… it’s actually perfect for Fivancial cause it doesn’t have to give up much of anything. We thought as delegates and Fivancial and community members together - as the volume gets going this is a tremendous benefit for the community. Either way it’s just an idea.
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Honestly John the idea of BankSocial that I fell in love with is long & gone. The community owned bank & all the ideas around it have dissipated with the pivots I don’t know what BSL is anymore.
While people flamed me in tele when I said BSL & Fivancial will be separate and the profits will go to Fivancial, as time goes on it’s looking more & more like it. Look at this proposal. We only get .1%? But the majority will go to the pockets of Fivancial? I understand costs, salaries, etc.
Idk. Don’t really know what else to say.
Whatever you guys vote for, I’ll vote for as well. I’m tired of speaking out about what I feel is going wrong. I just want my investment to net me neutral what I put in or at least profit. Whatever you guys think is right just go for it.
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The original idea of BankSocial was a hard money lending pool controlled by the token holders. That hasn’t changed. It has only been added to and that very ideal your talking about - where the token holders are able to participate is only growing by the day.
I know its hard to understand how this works especially if you didn’t come to the AMA or read the proposal. its not .1% - thats very bad way to look at this… When someone buys 100$ of crypto… you think were getting 99.9% of that?? LOL explain that math to me… someone buys 100$ worth of crypto and we keep 99.9% of it… token holders get .1% - how the hell do we keep selling crypto? No… what is happening is when someone buys 100$ they are sent 96$ and 4$ is taken for fees… half of the fees are gone and goto the credit card company. We split the rest with CUs and fintechs, and the BSL token holders. So REALLY the way it should be said is of the $1 dollar Fivancial is keeping BEFORE costs… its promising .10 cents to the token holders… 10% of its revenue… If you think that is self serving… then I dont know what else to tell you… To look at it another way… most businesses operate at a 10-15% profit margin after everything is said and done… basically we gave that to the token holders and we will get by on the rest.
The whole point was for token holders to be different than Chase Bank… yall want the whole $1 and dont even understand what and how. MCD Crew sounding like Chase Bank… SMDH
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Mate. Calm down. No one said you were getting 99.9%. We’re fully aware you’re getting 0.9%. 0.9% that should be going to the holders. As was promised.
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I understand why you & others may feel the way ya’ll feel towards us.
I’m not trying to defend or argue anything as I learned from Tele it’s a mute point.
I honestly will vote for whatever everyone wants.
So when it goes to temp check I’ll see it and vote.
Have a good day all.
LOL - please show the written communication where that was promised… Actually, if I remember - Werent you and your crew telling everyone that no one would get ANYTHING from the exchange!!! And that you were all leaving - LOL - that IS in writing…
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I think this explained it well! I’m in on this! LFG!
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$25,000 to the exchange at 6%, works out to $125 per month in interest. No thank you. I will gladly partake in the 0.1%. That is assuming, it is the best the delegates came up with so its a WIN-WIN for both parties. Since, we don’t have all the cost info I’m leaning on the delegates that its the best return for us.
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