Dear Pivx Members,
I would like to present an idea to make PIVX more popular to cover and build PIVX market especially in Asia, Europe and UAE.
Idea blue print has two stages to achieve it.
Total Projection of Project: 2500 PIVX
Bifurcation of Project Proposal:
1. Telegram Tipping Bot (Expected community size: 5000 members)
Cost: 600 PIVX (Initial Funding only for 1 Year)
Telegram based Tipping Bot will be used to tip new members who joins globally in telegram channel and keep them aware and updated about PIVX.
Annual server expense to run the bot is 10$ per month that means 120$ per year or approx 600 PIVX in a Year to run a PIVX wallet and BOT on same server.
2. Peer to Peer Private Lending Through Smart Contract
Initial funding required: 1900 PIVX
Community members will be able to take loan by lending PIVX via a smart contract feature. PIVX will be keep locked in a smart contract (Based on token on another chain).
Borrower can take loan only 60% of total PIVX value based on current market value in USDT.
Borrower PIVX will be locked into smart contract upto certain period of time and user has to pay back full payment with interest in PIVX to unlock his original PIVX.
Here is the example to Understand:
PIVX Amount to Lock for smart Contract by Borrower: 10000 PIVX
Timeline (In months) : 1 Month
Payable amount to borrower (In BTC, at conversion rate of USDT): 6000 PIVX
Interest Rate: 2% per monthly.
PIVX Liquidation: 97% (Incase price speculate more than 47% in last 1 month based on USDT value)
Suppose someone want to take loan against 10000 PIVX, his 10k PIVX will be converted into USDT value at current market value, 60% of that USDT value will be converted in BTC as a loan amount
and will be send to borrower mentioned address along with PIVX returning address. Contract will ask user to confirm for locking PIVX amount, he will be charged with an interest rate of 2%.
Once borrower wants to return the full amount back with interest his coins will be returned back on mentioned address.
Incase borrower have used funds only for 1-6 day: (Interest will be charged only for 1 week) -0.5%
Incase borrower have used funds only for 7-13 day: (Interest will be charged only for 2 week) - 1%
Incase borrower have used funds only for 13-21 day: (Interest will be charged only for 3 week) - 1.5%
Incase borrower have used funds only for 22-30 day: (Interest will be charged only for 4 week) - 2.05%
Incase borrower is unable to return the funds then 6000 PIVX (Principal Amount) +120 PIVX (Interest) will be deducted from smart contract and rest 3880 PIVX among will be returned back to returning address.
This condition applies when price speculation are not more than 5% otherwise he will get 38% of his USDT value PIVX.
This 2% interest will be used to run operation cost and pay back to voters.
Proposal amount will be extended in upcoming proposal.
I would like to present an idea to make PIVX more popular to cover and build PIVX market especially in Asia, Europe and UAE.
Idea blue print has two stages to achieve it.
Total Projection of Project: 2500 PIVX
Bifurcation of Project Proposal:
1. Telegram Tipping Bot (Expected community size: 5000 members)
Cost: 600 PIVX (Initial Funding only for 1 Year)
Telegram based Tipping Bot will be used to tip new members who joins globally in telegram channel and keep them aware and updated about PIVX.
Annual server expense to run the bot is 10$ per month that means 120$ per year or approx 600 PIVX in a Year to run a PIVX wallet and BOT on same server.
2. Peer to Peer Private Lending Through Smart Contract
Initial funding required: 1900 PIVX
Community members will be able to take loan by lending PIVX via a smart contract feature. PIVX will be keep locked in a smart contract (Based on token on another chain).
Borrower can take loan only 60% of total PIVX value based on current market value in USDT.
Borrower PIVX will be locked into smart contract upto certain period of time and user has to pay back full payment with interest in PIVX to unlock his original PIVX.
Here is the example to Understand:
PIVX Amount to Lock for smart Contract by Borrower: 10000 PIVX
Timeline (In months) : 1 Month
Payable amount to borrower (In BTC, at conversion rate of USDT): 6000 PIVX
Interest Rate: 2% per monthly.
PIVX Liquidation: 97% (Incase price speculate more than 47% in last 1 month based on USDT value)
Suppose someone want to take loan against 10000 PIVX, his 10k PIVX will be converted into USDT value at current market value, 60% of that USDT value will be converted in BTC as a loan amount
and will be send to borrower mentioned address along with PIVX returning address. Contract will ask user to confirm for locking PIVX amount, he will be charged with an interest rate of 2%.
Once borrower wants to return the full amount back with interest his coins will be returned back on mentioned address.
Incase borrower have used funds only for 1-6 day: (Interest will be charged only for 1 week) -0.5%
Incase borrower have used funds only for 7-13 day: (Interest will be charged only for 2 week) - 1%
Incase borrower have used funds only for 13-21 day: (Interest will be charged only for 3 week) - 1.5%
Incase borrower have used funds only for 22-30 day: (Interest will be charged only for 4 week) - 2.05%
Incase borrower is unable to return the funds then 6000 PIVX (Principal Amount) +120 PIVX (Interest) will be deducted from smart contract and rest 3880 PIVX among will be returned back to returning address.
This condition applies when price speculation are not more than 5% otherwise he will get 38% of his USDT value PIVX.
This 2% interest will be used to run operation cost and pay back to voters.
Proposal amount will be extended in upcoming proposal.
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