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Twarden

XAGATE Gateways and Pathways Micro-Loan Service

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Based upon an in-development Market Making programme, I have decided to extend a similar programme for open source Ripple developers that are members of XRPchat.com.  On the credit of the applicant, I will make decisions within this thread to provide Micro-Loans via small leveraged positions with XAGATE no larger than 50$CAD IOUs.  Micro-Loans provided to applicants through this programme will be forced to abandon their current reputation should the result of the transaction end with a default.  In instances where defaults are accrued by this programme, the employee which has the authority to act as the Processing Agent is responsible to repay the total of the Micro-Loan as soon as possible to 8569541 CANADA INC.  Micro-loans must solely be used for at least one of the following actions/criteria:

  • Providing small amounts of liquidity exclusively to the Main Ripple Network in exchange for XRP or other Gateways' balances to examine transactions and/or to build your open source project's code base as per the outline of the project's scope
  • At no point in time will XAGATE process leveraged positions of IOUs that were transacted to accounts greater than a threshold of 5$CAD within 180 days of the trade(s) execution and the Gateway Operator will monitor for signs of abuse; If any signs of abuse are detected then the loan is considered defaulted.
  • Developers which exceed this limit or process order book transactions over the Main Ripple Network which exceed 0.05$CAD will be exempt from repeat applications of this Micro-Loan programme and any existing loan's state will be considered defaulted (in cases of honest mistakes verified by a third party this loan may be reinstated)

Developers who are interested in this proposal must apply publicly and only within this thread.  Applicants must use the following form for their Micro-Loan to be processed.  Additional requirements include:

  • At least 150 quality posts on XRPchat.com with the greatest percentage in regard to the Ripple software ecosystem and/or "competing" software which may complement the growth of issuances/liquidity remitted over the Main Ripple Network
  • A reputation of at least 150
  • The registration date of the account must be at least 4 months old
Quote

Micro-Loan Application

Anyone is free to replicate this form for their own use case for Social Credit Systems built over The Main Ripple Network or any like financial system

XRPchat.com Alias: 

First Name:

Last Name:

Previous Occupation:

Current Occupation:

GitHub Profile:

GitHub Project:

Verifiable BTC Wallet of the Project's Team:

Verifiable Ripple Address of the Project's Team:

Bountysource.com Team URL (Not Applicable if one or both addresses are provided):

Requested Micro-Loan Amount:  

Date of your Last Request:

If any, URL to your most recent request  (if more than one, please provide the most recent 5): 

Reason(s) for your Micro-Loan to be processed:  Please be as descriptive as possible.

Applicants will provide 50% of the Micro-Loan requested via XRP or CAD.Rippleunion if accepted.  

Edited by Twarden

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