unclescrooge

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Activity: 868

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aka RaphyHero MemberActivity: 868Merit: 1000 New peer-to-peer lending on Bitfinex January 08, 2013, 04:11:14 PM #1



I'd like to present the latest addition to the margin trade feature on Bitfinex. It's works as a peer-to-peer lending, where borrowers use their loans to margin trade.



It'll give traders the ability to load margin in advance. Why? because you may want to have margin available without immediately opening a leveraged position.



Here is our new lending page:





If you have a "Trader" account, you will see the new "Loan" button, that will allow you to post a loan offer. If you're a lender, you'll see only the lending part.

There is now a new parameter for offers: the "Type". "Market" offers are filled with whatever offers is found (be careful when you use it, you don't want to lend 1000 bitcoins at 0% a year for 60 days). "Limit" offers are filled with your set rate or better.



A new table has been added, for traders, displaying the active loans.



On the sidebar, you will see the maximum size of the position you can open with your loans:





When you open a position, if you open more than what you have in loans, the active offers of the current credit book will be used (the current system of margin trading still works as is in other words).



Questions:

Q/How much can I loan?

A/You can loan your tradable balance in USD or BTC; Your maximum loan size is equal to your leverage multiplied by your trading wallet total balance (USD or BTC).



Q/How are interests charged?

A/Interests are charged every day from your trading wallet, from the moment a loan is opened and until this(these) loan(s) are used for trading (they are then converted into regular position credits). Then, interests will be charged as regular swap (as they are now).



Q/What changes for lenders?

A/ Lenders will have a better view of the current demand. They will be able to more easily fill the offers.



If you have any more questions, don't hesitate to come back to us. We hope you enjoy Bitfinex!



Raphael NICOLLE

Bitfinex team

https://www.bitfinex.com Hello,I'd like to present the latest addition to the margin trade feature on Bitfinex. It's works as a peer-to-peer lending, where borrowers use their loans to margin trade.It'll give traders the ability to load margin in advance. Why? because you may want to have margin available without immediately opening a leveraged position.Here is our new lending page:If you have a "Trader" account, you will see the new "Loan" button, that will allow you to post a loan offer. If you're a lender, you'll see only the lending part.There is now a new parameter for offers: the "Type". "Market" offers are filled with whatever offers is found (be careful when you use it, you don't want to lend 1000 bitcoins at 0% a year for 60 days). "Limit" offers are filled with your set rate or better.A new table has been added, for traders, displaying the active loans.On the sidebar, you will see the maximum size of the position you can open with your loans:When you open a position, if you open more than what you have in loans, the active offers of the current credit book will be used (the current system of margin trading still works as is in other words).Questions:Q/How much can I loan?A/You can loan your tradable balance in USD or BTC; Your maximum loan size is equal to your leverage multiplied by your trading wallet total balance (USD or BTC).Q/How are interests charged?A/Interests are charged every day from your trading wallet, from the moment a loan is opened and until this(these) loan(s) are used for trading (they are then converted into regular position credits). Then, interests will be charged as regular swap (as they are now).Q/What changes for lenders?A/ Lenders will have a better view of the current demand. They will be able to more easily fill the offers.If you have any more questions, don't hesitate to come back to us. We hope you enjoy Bitfinex!Raphael NICOLLEBitfinex team