[Claim-Example] Alpha Test Example - Micro Loan Claim

[Arcurus 331]

Hi All,

here the first test for the suggested Micro loan program as suggested here:

https://freicoinalliance.com/topic/120-freirepublic-freicoin-alliance-micro-loan-project-suggestion/

 

A Claim is handled in three steps:

 

1. Announce the claim:

Post in an new topic: Which loan you want claim, which amount and which projects you want to support.

If you are not sure how to do it, just write me an message.

 

2. Make the claiming transaction 

If the claim got verified, make the claiming transaction in Freicoins to the Freicoin Alliance and announce it here.

The claiming transaction should have the same Freicoins like the amount claimed. 

Not necessarily the claimer must make the claiming transaction. Theoretically everybody can do it.

Currently only Freicoins, that have not been used with the Freicoin Alliance, could be used for claiming.

  

 

3. Distribution of the Freicoins.

After the Freicoin Foundation matching is done (normally in the beginning of the month) the claiming transaction is transferred back.

And the extra coins From the Freicoin Foundation are distributed to the projects you specified.

(Please don't specify more then two until it is more automatized)

 

Here now the Claiming example:

[Arcurus 331]

Example - 1. Announce the claim:

 

Claim amount =  1.3 Freihours (6500 FRC)

([500 USD] / 3 >= 166 dollar round about >=  16 Freihours) / 12 months

 

1/12, because the credit was re-payed after on month.

More details here:

https://freicoinalliance.com/topic/49-active-loan-204000-frc-november-2014-may-2015/page-2

 

 

Supported projects:

Basic income project = 50% 

Micro Loan project = 50%

 

All the good,

Arcurus (ID 0042)

[Arcurus 331]

Example - 2. Make the claiming transaction: 

Claiming Transaction transmitted to the Alliance with added ID 0042 for Arcurus:

ID: e7be3e7df706f5acb9098e4c3a9c7ef5b9bbbc3c50c9ca09140edc1114ec5311-000

 

https://coinplorer.com/FRC/Transactions/e7be3e7df706f5acb9098e4c3a9c7ef5b9bbbc3c50c9ca09140edc1114ec5311

[Fabrizio 162]

Hmm, I'm a lil confused with this  

As the loan has already been repaid, who is the lender here? And why the original amount was divided by 12? I mean.. whats the more specific reasoning there / how it wouldve differed/affected if the loan was repaid after 6 months?  

[Arcurus 331]

Hmm, I'm a lil confused with this  

As the loan has already been repaid, who is the lender here? And why the original amount was divided by 12? I mean.. whats the more specific reasoning there / how it wouldve differed/affected if the loan was repaid after 6 months?  

Hi Fab, yea with the Micro loan part we have to look into it how to do it.

 

First I thought, ok you give a loan (in this case we (Fab, Fed, and I) gave a loan to Bicks students) , and then you claim it to take part in the common good matching, that would be simple.

So you give 100.000 Freicoins as a micro loan and can claim the full 100.000 Freicoins.

 

But what is if it is repaid immediately, or after one month like happened with our first micro loan?

Should we then allow to claim the full 100.000 Freicoins, or bring some time factor in (in this case I took a year /12 months)?

 

Or maybe we should drop it and focus more on the donation / payment / mining and basic income part, because these are more clear to handle?

 

UPDATE:

Thought about it, see the next post:

[Arcurus 331]

Thought about it...

Maybe we should proceed with allowing 100% to claim and require transparency from the projects / micros loans that are supported.

 

If the projects fit to the Freicoin / Freieconomy values then its fine to claim the full amount, no matter about which time period the loan was given.

 

In Bicks student loan program, I think that the project fulfilled all requirements and was also very transparent.

 

What do others think?

[Fabrizio 162]

Alright, that makes a bit more sense

So yeah, I think the students project was in line with the Freicoin values as it was a learning experience for them However, there is the fact that we as lenders "gained" some Freicoins from the loan due to the coins USD value going down... I wonder how this should be taken into account in the matching? Original amount we lent out would be matched?

[Arcurus 331]

Actually, I think, that in the beginning we should also allow to claim other zero interest loans, as long as they are transparent and fitting to the values of freieconomy. So in a way it would not matter much how many Freicoins the loan was, it would matter how many Freihours the loan was.

 

In this case, the loan was given in Dollar, luckily Dollars are currently very easy to translate to Freihours just bei dividing thorugh 10

 

 

If maybe in future the loan is directly payed back over the Micro Loan Programm, then we could just match the Freicoins when the loan was payed back.

Or we could match the loan when it was given. In this case we would have to trust, that the loan is according to the freicoin vlaues.

But I think this would be acceptable if the loan is very small and / or if the loan parties are known / trusted.

 

Therefore I would suggest, that it is important when the loan was claimed, as long as the loan amount could be messured in Freihours is should not matter when it was claimed.