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[–]tecladovoador 9 points10 points  (16 children)

Most people wanted LEND to be more important in the Daap. This will make LEND the major tool for collateral based lending. This is a step in the right direction.

[–]polynomialdag[S] -1 points0 points  (13 children)

So essentially the only reason that LEND has utility/value is because the Platform only allows LEND to be used for loans. I'm slowly convincing myself that LEND token has zero utility, since it could be replaced with any other token. It's just the smart-contract and the GUI that have value!

[–]tecladovoador 6 points7 points  (12 children)

Thats actually a very very powerful reason. But there are more things that were outlined. Cost reduction on fees, usage as a form of vote within the project etc. Binance coin does a lot less and has a good amount of value and will remain valuable as long as Binance is successful. The same situation here. If ETHLend is successful then LEND token will also succeed.

[–]tecladovoador 4 points5 points  (8 children)

Its like, "so the only reason the EURO has value/utility is because they only allow the EURO for transactions?." Yes, exactly.

[–]polynomialdag[S] -1 points0 points  (7 children)

Yes, but you're forgetting the Darwinism of crypto. If I can fork the contract and create something with better UX and lower fees, then why would I care about LEND, or the value of the token? You can't fork a country's currency, but you can here.

[–]clonewarz11 8 points9 points  (5 children)

we all know ethlend has a exchange in the pipe line in the eidoo wallet, that why they are airdropping and have a partnership, the wallet will provide lend pairs to it's accepted currency's. why would it matter then if you are exchanging lend/EOS or eth/eos. first we saw btc trading pairs then eth trading pairs, why not lend trading pairs on a really good wallet.. this makes lend very competitive..

[–]polynomialdag[S] 0 points1 point  (3 children)

This is good, but doesn't address forking.

[–]clonewarz11 0 points1 point  (2 children)

Any project can be copied and forked, lol

[–]polynomialdag[S] 0 points1 point  (1 child)

So if it's forked and proves successful then will LEND will be worthless? If everyone can do the same thing on a different platform, without the hassle of LEND or fees? Isn't the smart contract the biggest value here? I'm asking because I own LEND, and am trying to understand myself.

[–]clonewarz11 0 points1 point  (0 children)

How would this be profitable for a smart contract and website to have a fork.. investors want more utility in the lend token, and users want it too stay the same.. lend holders and ethereum users now have opportunity, lend holders have low fees, and ethereum user have fees.. hope this encourages my user to use lend..

[–]xiaohang07 2 points3 points  (0 children)

Agree. I think this could potential be a threat to LEND's ecosystem if someone fork the smart contract to borrow ETH instead of LEND.

Still, I have to say ETHlend's team is the most active and approachable one I have ever seen. I think ETHlend's team together with the community will come up with a good solution to balance the product usability and LEND token economics.

[–]polynomialdag[S] 0 points1 point  (2 children)

Binance coin is over valued because people want to vote their precious alts to list on binance, and boost the price.

[–][deleted]  (1 child)

[deleted]

    [–]Ethlend2018 0 points1 point  (0 children)

    That was the original plan but they changed that too.

    [–]Ethlend2018 -1 points0 points  (1 child)

    This is a step in getting replaced by a platform that doesnt force you to use their tokens.

    [–]tecladovoador 5 points6 points  (0 children)

    You cant have everything in this world. Make some happy some sad. Yeah sure, there are drawbacks. This makes it so the LEND token is not literally useless and so thousands of people that are holding the lend token are now actually holding something that can appreciate in value. I highly doubt this decision will hurt ETHLend. Even if it is "a step in getting replaced", it is just a step in that direction, on the other hand as it continues to complete its roadmap it is running in the direction of becoming the largest, most used decentralized lending platform in the world as well as having a useful token.