Welcome to The All Memeing Bank!
I am currently in the situation of having more balance than I can find good trading opportunities to bet it in. Therefore, I am in search of users on this site who are in the opposite situation of wanting to take on loans because they find more good trading opportunities than they have balance to invest in.
If you would like a loan, please leave a comment, and I will hopefully respond within a day or two. Initially, I may only offer much smaller loans than others (e.g. 100 mana) to build up lender trust, but I'm usually willing to take a lower interest rate, and the loan size offered may significantly increase as trust improves.
I will use this description as a publicly visible ledger of all past and active loans. At the end of the year I will use this ledger to determine market resolution.
It's possible I'm making a bunch of rookie mistakes given that I've never academically studied finance and I'm pretty much deducing the principles from off the top of my head and from depictions in fictional media, but this is my current train of thought regarding loan interest rates:
Like haggling for a purchase in a street market, as the lender I want the interest rate to be higher and the borrower wants it to be lower. For there to be a possible deal we hopefully have an overlapping range between the worst deals we are each willing to accept (the lowest interest I'll accept vs the highest interest they'll accept). The default situation for purely self-interested agents would be us both trying to convince the other that our limit is stricter than it actually is within that overlap, but if we have a degree of cooperative altruism then we can agree to be transparent and set it at the midpoint of the overlap.
The lowest interest I should be willing to accept is one that leads to expected profit just above what I would otherwise get (currently zero because it's just sitting in my balance, but possibly much more in the future if demand outpaces supply leading to competition from other borrowers), via the interest in cases where it is paid back more than cancelling out losses in cases where it isn't. The probability of payback can be roughly guessed by long term consistency and rate of positive profit growth, as well as explicit track record of paying back loans, good market resolution honesty ratings, and word of mouth from other trusted users. E.g. if I think there's only 25% probability that Tumbles will be able to pay me back by winning their recent big bets or getting bailed out again then the minimum interest rate should probably be about 300%.
Similarly, the highest interest rate it makes sense for the borrower to accept would also give endpoint profit just above what they would otherwise get (if I have a monopoly then zero, but again possibly much more if there's competition from other lenders), via the expected trading profits more than cancelling out the interest. The expected trading profits growth rate per loaned amount might be possible to estimate from their profit and investment graphs.
Train of thought regarding loan sizes and due dates currently in progress.
Active loans:
Date and time: 2025-05-29 20:58 BST (UTC+1)
Recipient: Quroe ( @Quroe )
Amount lent: 800 mana
Interest rate: 4%
Amount owed: 832 mana
Due date and time: 1 month, 2025-06-29 20:58 BST (UTC+1)Date and time: 2025-05-30 18:49 BST (UTC+1)
Recipient: For Fold's Sake ( @4fa )
Amount lent: 800 mana
Interest rate: 3%
Amount owed: 824 mana
Due date and time: 1 month, 2025-06-30 18:49 BST (UTC+1)
Past loans:
Date and time: 2025-04-19 13:06 BST (UTC+1)
Recipient: crowlsyong ( @crowlsyong )
Amount lent: 200 mana
Interest rate: 5%
Amount owed: 210 mana
Due date and time: 1 month, 2025-05-19 13:06 BST (UTC+1)Payback date and time: 2025-04-23 21:43 BST (UTC+1)
Date and time: 2025-04-30 08:08 BST (UTC+1)
Recipient: Anonymous ( @100Anonymous )
Amount lent: 250 mana
Interest rate: 20%
Amount owed: 300 mana
Due date and time: 1 month, 2025-05-30 08:08 BST (UTC+1)Loan cancellation partial payback date and time: 2025-04-30 08:16 BST (UTC+1)
Loan cancellation partial payback amount: 275 mana
Date and time: 2025-04-30 06:00 BST (UTC+1)
Recipient: Quroe ( @Quroe )
Amount lent: 500 mana
Interest rate: 4%
Amount owed: 520 mana
Due date and time: 1 month, 2025-05-30 06:00 BST (UTC+1)Payback date and time: 2025-05-01 17:01 BST (UTC+1)
Date and time: 2025-04-28 22:12 BST (UTC+1)
Recipient: musuko384 ( @musuko384 )
Amount lent: 250 mana
Interest rate: 10%
Amount owed: 275 mana
Due date and time: 1 month, 2025-05-28 22:12 BST (UTC+1)
Payback date and time: 2025-05-01 21:52 BST (UTC+1)Date and time: 2025-04-15 17:10 BST (UTC+1)
Recipient: kbot ( @kbot )
Amount lent: 100 mana
Interest rate: 4%
Amount owed: 104 mana
Due date and time: 1 month, 2025-05-15 17:10 BST (UTC+1)Payback date and time: 2025-05-15 00:20 BST (UTC+1)
Date and time: 2025-04-15 15:43 BST (UTC+1)
Recipient: bagelfan ( @bagelfan )
Amount lent: 150 mana
Interest rate: 3%
Amount owed: 154.5 β 155 mana
Due date and time: 1 month, 2025-05-15 15:43 BST (UTC+1)Payback date and time: 2025-05-15 20:11 BST (UTC+1)
Lateness: 4h 28mInitial date and time: 2025-04-16 14:08 BST (UTC+1)
Recipient: Evan ( @evan )
Initial amount lent: 100 mana
Interest rate: 4%
Initial amount owed: 104 mana
Initial due date and time: 1 month, 2025-05-16 14:08 BST (UTC+1)Revision date and time: 2025-04-30 06:37 BST (UTC+1)
Revised amount lent: 300 mana
Revised amount owed: 312 mana
Revised due date and time: 1 month 2 weeks, 2025-05-30 14:08 BST (UTC+1)
Payback date and time: 2025-05-19 09:08 BST (UTC+1)
Volunteer payee: Anonymous ( @100Anonymous )
Initial date and time: 2025-04-14 17:00 BST (UTC+1)
Recipient: Robin ( @Robincvgr )
Initial amount lent: 100 mana
Interest rate: 3%
Initial amount owed: 103 mana
Initial due date and time: 1 month, 2025-05-14 17:00 BST (UTC+1)
Revision date and time: 2025-05-01 00:34 BST (UTC+1)Revised amount lent: 300 mana
Revised amount owed: 309 mana
Revised due date and time: 1 month 2 weeks, 2025-05-28 17:00 BST (UTC+1)
Payback date and time: 2025-05-29 02:00 BST (UTC+1)
Lateness: 9hInitial date and time: 2025-04-17 13:35 BST (UTC+1)
Recipient: For Fold's Sake ( @4fa )
Initial amount lent: 100 mana
Interest rate: 4%
Initial amount owed: 104 mana
Initial due date and time: 1 month, 2025-05-17 13:35 BST (UTC+1)
Revision date and time: 2025-04-30 09:28 BST (UTC+1)Revised amount lent: 300 mana
Revised amount owed: 312 mana
Revised due date and time: 1 month 2 weeks, 2025-05-31 13:35 BST (UTC+1)
Payback date and time: 2025-05-29 10:52 BST (UTC+1)
Total amount loaned so far
= (300 [Robin] + 150 [bagelfan] + 100 [kbot] + 300 [Evan] + 300 [For Fold's Sake] + 200 [crowlsyong] + 250 [musuko384] + 500 [Quroe] + 250 [Anonymous] + 800 [Quroe] + 800 [For Fold's Sake]) mana
= 3950 mana
1,000
3.00
@Quroe you have a very impressive profit growth, net worth, and all-round reputation for being a great guy, not to mention you trusting me with that 20k dummy loan the other day :)
Though you've bet a lot on the beans market, you would still have plenty to pay me back even if you lose.
Really the main limiting factor on loan size here is my general phobia of investing too much in any one place no matter how trustworthy.
Would 500 mana at 4% interest due in a month be ok?
@TheAllMemeingEye To confirm, this is αΉ500 to me today, 1.04x back (αΉ540 back) a month from now?
@Quroe I'm an idiot, just realised you already took out AND paid back pretty much this exact loan already about a month ago π€¦
Arguably you therefore qualify for even more, maybe 800?
1.04 * 800 = 832
If it helps ease your fears, I am using a bean counting method endorsed by a former NASA engineer, and my trades reflect it.
(deleted)
@Spin Looks like you have pretty good profit growth, would a smaller amount (300 mana) but at a better rate (25%) be ok?
@Spin Wait, new info has come to light
It appears you have chosen to do the exact opposite of diversifying your investments, instead going all in on one thing. Would you please reconsider this strategy?
@TheAllMemeingEye if u prefer a smaller amount Iβm fine with 300 at 50% (I know this is a risky investment so itβs okay if you donβt want to)
@Quroe Until now I haven't used RISK because it seemed too complicated for low risk lending but this might be big enough and risky enough for it to be worth it, investigating...
Ok @crowlsyong I have finally read through your RISK page and wanted to clarify a few things:
Firstly, in the fine print, it says
While we aim to secure your funds to the best of our ability, we make no guarantees about anything. Any mana given to π¦RISK and its affiliates could be lost forever. By using our services, you agree that you have read and understand this.
In what situation would our funds not be secured and the mana lost forever? Are you saying there's a significant likelihood of you deciding to take the money and run?
Secondly, in the how does it work section, it says
Here's An Example: A lender is giving a M1,000 Loan (L=1000) to a Borrower. The lender tells the borrower they have a deal so long as the borrower purchases a π¦RISK Cβ β (50% coverage) Loan. The borrower agrees and the Insurance Fee is sent to the π¦RISK Payment Portal- a bounty market- which stores the mana while the loan is active. If the borrower defaults, our insurance activates and π¦RISK will pay the lender 50% of the loaned amount (M500).
Given that it is the lender who receives the insurance payout in event of loan default, why is it the borrower who is purchasing the insurance plan? It seems that to incentivise the borrower to purchase it the lender would need to conditionally decrease the interest on the loan in a way that is equivalent to paying them, in which case the end result 3-way deal is equivalent to the lender purchasing the plan anyway, right?
Thirdly, in the same section it also says
Insurance Fee Calculation
I=(LΓP)+(LΓC)
where:
I is the insurance amount
L is the loan amount
P is the risk fee (based on the borrower's credit score)
C is the coverage fee (depending on the selected coverage percentage)
[...]
Cβββ β 100% of the loan amount covered with a 12% coverage fee
[...]
700β799 Very Safe ~5%
Given that this is Spin's score
Am I correct in thinking the insurance fee for 100% coverage would be
I = LP + LC
= L (P + C)
= L (0.12 + 0.05)
= 0.17 L
= 17%?
@TheAllMemeingEye
1 You caught me. I am gonna steal it alll baby!!!! Just kiddin'. The Fine Print says that the mana could be "lost forever" because there is a chance I get hit by a bus tomorrow and/or there is a chance that the manifold API changes and/or the bounty markets are destroyed and/or [insert circumstance I cannot anticipate].
2 This has been pointed out to me before and you have found a place that I did not update the language. You are correct in that it is recommended that the lender pays the fee, not the borrower. Will update.
3 Yes you are correct. You can verify this by going to https://risk.markets/insurance to see for yourself. I have attached a screenshot to show you.
@Spin I'm up for lending you 500 mana at 50% interest due 7d after whenever both the high and low res bean markets have resolved
@crowlsyong I'm up for purchasing a C_100 insurance policy on this loan for 17% * 500 mana = 85 mana
Do we all have a deal?
@TheAllMemeingEye As I personally understand it, I think Crowls is okay with us just chucking mana into the bounty and ordering up the policy on the service portal page's comments unless he has told us previously that he doesn't want to service a particular user. At worst, he sends the mana back to you.
Is this the correct decorum, Crowls? We don't need to wait for approval before submitting mana?
@Quroe ideally I'd like written confirmation first due to this text in the payment portal
Fine Print:
If you add a bounty and don't tell π¦RISK about it, it will be considered lost and non-refundable. Users must confirm with @crowlsyong before depositing funds here. In addition, the Fine Print in our Dashboard applies. By using any services related to or run by RISK, you agree to these terms and conditions.
@TheAllMemeingEye Insurance is paid by borrowers, not by lenders. @crowlsyong can you attest to our messages?
