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NPC Managed Loans with Raffled Collateral
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Pleasure Hub Node-514
Pleasure Hub Hotline
#1 - 2016-04-05 02:34:31 UTC  |  Edited by: Pleasure Hub Node-514
Topic carried over from discussion here on stock market (an often recurring request).

Micro-finance loans may be a more feasible way to approach [investment venture mechanics] than an in-game public stock market.


Setting up a Micro-loan (with raffle collateral):

Player requests a loan through NPC broker that goes through two stages. 1. funding stage and 2. repayment stage.
Set Up:
-Loan bearer designates asking amount on loan, length of funding stage, and length of repayment stage.
-Loan bearer designates percentage interest repaid to pool of financiers. 1% is the minimum interest value.
-NPC agent handle optional collateral

Funding Stage:
-Player financiers fund loan requested amount. Offering stable collateral, like a Plex, is key to encouraging people to risk their ISK on what amounts to a raffle if loan repayment fails.
-The more a financier contributes to the funding pool, the higher return of the interest pool is awarded to them. (e.g. 1% of a 3 billion ISK loan is 30m ISK. If they financed 1.68 billion toward that 3 billion ISK loan, or 56% of the loan, they would get 56% of 30m ISK in the payback.
-However, in the case that a loan repayment fails, but collateral was offered on the loan, this piece of collateral (e.g. a plex) is raffled off and awarded based on the strength of ones funding contribution--with one big caveat.
-The NPC broker holds a 10% chance to snag the item during collateral raffle, regardless of the implied raffle weight of any financiers' funding contribution. This adds greater risk to players who choose to stack the deck with alts, and also helps retain the player economy for middle men facilitating raffles.
-If loan does not meet funding goal by designated date, ISK is auto refunded.

Repayment Stage:
-Loan has met funding goal. ISK is transferred from NPC agent to loan bearer.
-Repayment time frame is indicated and set when loan request was created.
-Loan bearer has a repayment success score. If loans are repaid by deadline, that score goes up, and likewise goes down if loan bearer fails to repay.
-If loan is successfully repaid, collateral is returned to the loan bearer.

When choosing to participate in a micro-finance venture you have the ability to see several things:
-the repayment rating/history of the player/corp requesting loan
-item placed for collateral
-number of players involved in reaching the funding goal
-repayment (any additional loan interest) and repayment date after funding goal is reached, is displayed

'One night hauler' The tell all story of a pleasure bot in Jita 4-4
Jadek Kin
Incorruptibles
#2 - 2016-04-05 02:41:34 UTC  |  Edited by: Jadek Kin
InB4 micro-loans used as joke for in-game 'world war bee book' kickstarter

@JadekMenaheim
Pleasure Hub Node-514
Pleasure Hub Hotline
#3 - 2016-04-05 02:47:42 UTC
@Jadek Kin

In-game kickstarters could work with an NPC brokered micro-loan system. Set it up as follows:

Funding Round:
-Loan request for 15 billion isk to make dank book of memes about war. 30 days to fund project.

Repayment Round:
-Payee has indicated they will repay 0 ISK at 0% interest to the financier pool within 2 weeks.

'One night hauler' The tell all story of a pleasure bot in Jita 4-4
ShahFluffers
Ice Fire Warriors
#4 - 2016-04-05 03:27:12 UTC  |  Edited by: ShahFluffers
A few things:

- Why would I put something valuable up as "collateral" when I can simply sell it, use the ISK to fund activities that will generate more ISK, then buy that same item at a later date?
Unlike the real world, everything in EVE (sans blueprints) is not "unique." The Guristas Warp Scrambler you sell today will be just like the one you buy 3 months down the line.

- How will your system account for alt characters?
Example: Alt character slowly builds up credit. When they reach a sufficient level, they can simply transfer or "lose" the ISK to another character. And the game cannot mechanically discern between a legitimate suicide ganker or thief versus a player ganking or "stealing" from his alt character. Not without GMs investigating each and every case (which poses its own risks of false positives or false negatives).
And once the alt character is "burned"... make a new one.

In the event of such a case, you have basically created a new and VERY easy to reach "ISK faucet."
You might as well hand players money at that point.

I would personally abuse such a system. Twisted


Fun History Lesson: In the distant past, EVE used to have "loan contracts" for players. You put something (ISK, ship, module, etc) up for collateral, get something for X amount of time, and then swap back.
It was removed because of the points I raised above.

How did you Veterans start?
Pleasure Hub Node-514
Pleasure Hub Hotline
#5 - 2016-04-05 03:50:09 UTC
It's assumed people will be using alts, but the process of building credit for major long con scams is still risky in terms of loss of ISK to NPC fees. Careful traps would need to be orchestrated. To build credit, micro-loans must first complete funding stage then proceed to repayment round. If the funding round fails people are refunded isk minus a % to the NPC broker.

People participating (playing against potential scammers) have to weigh the risks of loan amount asked for, the collateral being offered, and the number/names of investors on the loan. Investors on the loan could be searchable for people to check anomalies with successful and failed micro-loan repayment. Loan history is also available.

Collateral is optional. Someone can ask for billions and indicate on the loan card that they don't plan to pay...making it a gift instance.

'One night hauler' The tell all story of a pleasure bot in Jita 4-4
Rivr Luzade
Coreli Corporation
Pandemic Legion
#6 - 2016-04-05 05:56:42 UTC  |  Edited by: Rivr Luzade
It is not assumed, it is inevitable and guaranteed. It is in fact the only guaranteed thing to happen in your system.
Looking for anomalies is, furthermore, such an enjoyable task and makes the experience so much more pleasurable. And this system makes so much sense in EVE where you can just sell an item in a matter of seconds (or hours/days, depending on if you want to go BO or SO) to gather the necessary ISK for a project without having to rely on obnoxiously advertising your Eve Gofundmekickstarterrockethub to other people (resulting in getting blocked instantly by many, by the way), other people seeing your obnoxious pleas and hoping that someone falls for your pleas.

In fact, the market's SO/BO system already offers the micro-transaction system simply be virtue of its existence: You have your items as collateral which you sell to other people already looking for them and in return receive their money to fund your project. With the added benefit that you do not need to advertise your campaign (but you could if you put up items for very competitive prices on the market). And once you reached your campaign goal, made the money back, you can buy your items back and in some instances even make an additional profit if collateral sold items have dropped in price in the meantime. Thus: I do not see the point of this system at all.

UI Improvement Collective

My ridicule, heavy criticism and general pale outlook about your or CCP's ideas is nothing but an encouragement to prove me wrong. Give it a try.
Donnachadh
United Allegiance of Undesirables
#7 - 2016-04-05 12:36:23 UTC
Pleasure Hub Node-514 wrote:
It's assumed people will be using alts,

In a game of alts it is not an assumption that people will use alts, it is as Rivr points out guaranteed that they will use alts especially when they can be used to gain an upper hand or gain ISK for little or no effort.
Serendipity Lost
Repo Industries
#8 - 2016-04-05 16:54:22 UTC
" + value of collateral asset is sold off at station market value "


This is where it all falls apart. Because the game calculates market value off of player buy/sell orders this can be controlled by timely buy sell orders. I can inflate and deflate the 'station market value' quite easily.

I don't see CCP spending time and effort to open a door like this. I mean, they made citadels that safeguard the contents on their destruction, do you really think they are going to give you something like this?

Pleasure Hub Node-514
Pleasure Hub Hotline
#9 - 2016-04-10 21:52:51 UTC  |  Edited by: Pleasure Hub Node-514
Serendipity Lost wrote:
" + value of collateral asset is sold off at station market value "


This is where it all falls apart. Because the game calculates market value off of player buy/sell orders this can be controlled by timely buy sell orders. I can inflate and deflate the 'station market value' quite easily.

I don't see CCP spending time and effort to open a door like this. I mean, they made citadels that safeguard the contents on their destruction, do you really think they are going to give you something like this?


Good point, changed this to an item raffle in the case repayment fails.
NPC broker also has a 10% chance to win item (removing it from game) during collateral raffle round.

'One night hauler' The tell all story of a pleasure bot in Jita 4-4