The Blender Platform

Lend. Borrow. Stake.

The Blender Platform is a blockchain powered open-end credit platform in which authenticated users can create their own loans (and set their preferred interest rates, and provide minimum contribution requirements of individual potential lenders) using smart contracts on the xDAI Blockchain. Potential lenders may browse through available smart contracts on the platform, assess borrower credibility with quantitative statistics detailing payment frequencies, current debt, current equity etc. Using the provided data, lenders choose which borrowers' smart contracts to lend money. 

Borrowers receive funds from lenders in smart contracts. At the receipt of funds, the borrower does not have access to the funds until he/she creates a withdrawal request, detailing the amount requested from the liquid value inside the smart contract, given by the lenders. Lenders view pending withdrawal requests and vote democratically to release the funds into the custody of the borrower, the creator and manager of the smart contract.

At the point of final withdrawal of funds from the smart contract into the borrower's virtual wallet, the withdrawn funds are officially 'borrowed' and begin to accrue the interest at the rate designated by the borrower at the smart contract's creation. The borrower is now to repay these funds, and a lack of doing so results in poor statistics on the platform, depleted credibility, and negative reviews from your lenders. In addition, lenders may reclaim the remaining liquid portions of their contributions which have not yet been withdrawn, at will.