Over the past few months, we’ve received many inquiries, both at industry conferences and in our Telegram group, about adding additional functionalities for peer-to-peer loans issued on the Dharma protocol.
We’ve heard those requests and today we are excited to announce the release of Offers to Lend! Lenders now have the ability to offer prospective borrowers their digital assets for peer-to-peer loans issued on the Dharma protocol. Until now, lenders could only fill peer-to-peer requests made by borrowers, which allowed borrowers disproportionate power in defining the terms of the loan and which left lenders with a choice to either leave the request or accept it as-is. Now, lenders have greater flexibility, with the ability to define the principal, term, interest rate and collateral for an offer to lend.
This new feature is an important step forward in creating robust and vibrant peer-to-peer credit markets for digital assets. The Offers to Lend feature will allow market participants to establish the bid-ask spread for every asset offered and ultimately will create better price discovery.
At Bloqboard, one of our goals is to become the leading compliant platform where institutional investors complete borrowing and lending transactions of digital assets. This announcement moves us closer to that goal and we’re eager to unveil more features, as they become available.
With just a few clicks, lenders can now offer their digital assets. We put together a quick GIF that walks you through the process.
- Click the ‘Lend’ tab
- Select the token that you would like to lend and click ‘Lend’
- Define the amount, term, APR and collateral
- Enable the smart contract to interact with the token you would like to lend
- Click ‘Offer Peer-to-Peer Loan’
- In the MetaMask pop-up window, review the gas fee and click ‘Sign’
If you’re new to MetaMask, simply download it here and create an account. Once in, grab your wallet address and send yourself any Ethereum-based digital asset from wherever you buy, sell and hold them.
We’re excited to bring this new feature for peer-to-peer loans to the Bloqboard community. If you have any questions about Offers to Lend or anything else concerning the Bloqboard platform, please reach out to us in our Telegram group or at email@example.com.
Create your first offer to lend in under a minute. Head here to get started!