Going off of my last post, we want to continue to increase utilization and decrease frictions for borrowers to make loan requests. As the protocol continues to mature (see: Rate Model), I believe this decreases the need for forum posts and ‘rating’ of individual loans. Over time, we will make additional proposals to eliminate these aspects of TrueFi entirely, the process enabling ‘private borrowing’ (more to come on this… but it’s highly requested by many of the industry’s largest borrowers).
As a first step, I’m proposing that we decrease the minimum ‘rating period’ from 72-hours to 48-hours. This means that if a borrower receives the minimum amount of ‘rates’ required, they can withdraw their loan request in as fast as 48-hours, rather than the previous 72-hours.
Are you in favor of this change?
- Yes, but with changes (please comment below)