@macs

Around 2 years ago, I was really excited about lending markets. So excited that I made a proposal for a permissionless, uncollateralized lending market protocol. If anyone wants to make something like this, I'd love to be your user #1. TLDR: * The protocol aggregates loan offers into something like an 'order book' for the borrower. * The figure visualizes this as: y-axis = interest rate x-axis = total amount that can be borrowed up to rate y * A lender's offer starts in a 'credit' state that is available to the borrower. * The borrower can withdraw from this lending offer pool (convert available credit into a 'debt' state that accrues interest). * Visually, as interest accrues, the 'debt' share creeps to the right to consume more of the 'credit' share. * If a new lender wants the borrower's debt, they can bid a lower rate to immediately get the interest accruing debt instead of having their offer sit idle as unused credit in the 'order book'. This creates competition to offer the best rates for borrowers. It seemed too early 2y ago, but timing is better now with onchain social and the possibility for your social reputation to "collateralize" your debt. cc: @ruminations since I know you're workin on interesting lending market stuff!

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