No-collateral Funding

[abitmore]

User Story

As a user I'd like that a quick funding feature exists on BitShares. See Aave's "Flash Loans" feature on Ethereum.

Feature brief:

• user borrows some funds from a pool or several pools and pay them back in the same transaction, no collateral is required;
• the pool(s) may charge fees.

It is mainly for arbitrage bots with tech but lack of funds.

Casual users can participate via pooling to earn fees.

Impacts
Describe which portion(s) of BitShares Core may be impacted by your request. Please tick at least one box.

• API (the application programming interface)
• Build (the build process or something prior to compiled code)
• CLI (the command line wallet)
• Deployment (the deployment process after building such as Docker, Travis, etc.)
• DEX (the Decentralized EXchange, market engine, etc.)
• P2P (the peer-to-peer network for transaction/block propagation)
• Performance (system or user efficiency, etc.)
• Protocol (the blockchain logic, consensus, validation, etc.)
• Security (the security of system or user data, etc.)
• UX (the User Experience)
• Other (please add below)

Additional Context (optional)
Add any other context about your request here.

CORE TEAM TASK LIST

• Evaluate / Prioritize Feature Request
• Refine User Stories / Requirements
• Define Test Cases
• Design / Develop Solution
• Perform QA/Testing
• Update Documentation

[sschiessl-bcp]

Do you have anymore context or specifications other than "See Aave on Ethereum."? :)

[abitmore]

@sschiessl-bcp title and OP updated.

[sschiessl-bcp]

Thanks, that gives a good picture.

[sschiessl-bcp]

You could call it "Atomic loan", since it happens within one transaction.

[abitmore]

I think calling it "loan" may introduce legal issues. "Atomic" is good anyway.

[abitmore]

BTW the name "Atomic Loans" is taken by https://atomic.loans/.

[bitfanatic]

Now that we are talking about loans

collateralized loans

wouldnt it be good too have a feature where if
person A has 1 MPA.BTC
person A does not want to sell his MPA.BTC because we are in a bullmarket
but person A also needs some stable coins to buy groceries and does not want to pay with bitcoin and lose his MPA.BTC

person B has a lot MPA.USD and woud like to earn some interest
person B is not a trader and does not trust volatile assests

a feature where person A and person B would be able to design a loan
with interest fees and monthly, weekly or daily pay back schemes
or slow buy back schemes
and penalty for not paying back loan by losing the collateral

[sschiessl-bcp]

Now that we are talking about loans

collateralized loans

wouldnt it be good too have a feature where if
person A has 1 MPA.BTC
person A does not want to sell his MPA.BTC because we are in a bullmarket
but person A also needs some stable coins to buy groceries and does not want to pay with bitcoin and lose his MPA.BTC

person B has a lot MPA.USD and woud like to earn some interest
person B is not a trader and does not trust volatile assests

a feature where person A and person B would be able to design a loan
with interest fees and monthly, weekly or daily pay back schemes
or slow buy back schemes
and penalty for not paying back loan by losing the collateral

Have a look here https://github.com/bitshares/bsips/blob/master/bsip-0070.md

[bitfanatic]

okay nice looks like a very thorough bsip

i am not sure if a loan should be vulnerable to price volatility
which i think is important it isnt

thanks for sharing Stefan

hope its coming one day

[abitmore]

Done via #2469.