Bird.Money Loans: Non-Custodial Digital Asset Loans.

Loans.bird.money (Bird Loans) is a non-custodial digital asset lending and borrowing platform based on the compound protocol with altered pools assets and use of Bird + to increase access to extra funds on top of the current collateralized debt positions (CDP) offered by Compound Finance, AAVE.

CDP Plainly explained
The Collateralized Debt Position (CDP) allows you to lock your crypto assets (now just ETH) into the CDP vault and get a loan against the deposited sum in the sum of 66 percent of DAI (1 DAI = 1 USD). You just have to repay your borrowed debt in Dai if you want to get back access to your locked crypto

Example:

• Lock up 100ETH in the collateral vault
• Borrow up to 66ETH worth of Dai
• Repay borrowed Dai at any time in the future and get your collateral back.

The problem with the current scenario is I will need 100ETH to get 66ETH in loans,

What about the people with no access to 100ETH with payment history and need 66ETH ?

We can increase access to funds for borrowers with market intelligence and payment analysis through bird analytics in a scheme called Bird +.

Bird + is simply the extra amount of bird tokens we can offer borrowers without any extra collateral based on their transaction history and rating from bird analytics.

Bird + = Amount to borrow + Transaction History / Amount to lock up

Example with transaction history, and amount of Bird tokens available to borrowers

Repayment with BIRD +

The Borrower would be required to pay back the amount of digital asset — the $BIRD tokens @ the stipulated time with interest. Interest on the extra Bird + tokens would be reduced to a minimum and defaulter would be penalised with a lower credit rating on the bird analytics platform hence reducing their access to more funds in the future.

How Bird + works

We invite everyone fascinated about blockchain, cryptocurrency, link marines, deFi enthusiasts, ethereum fans, all other altcoin lovers and the rest of the world to come join our community in building bird.money: Money without boundaries.

Join us on discord, follow us on twitter or visit us at bird.money