[TIP 3] Reducing Minimum Loan Amount for Borrowers
Original Author(s) Subhajit Ray Forum proposal - https://forum.truefi.io/t/reduce-minimum-loan-amount-for-borrowers/182
Summary: A simple proposal to reduce the minimum loan amount to 10,000 TUSD from the current 1,000,000 TUSD.
Background: This request has been put forward by borrowers and several members of our community. It will enable smaller borrowers to establish a credit history on the TrueFi platform.
Motivation: A reduction in the minimum borrowing amount would allow the community to get to know new borrowers at a much lower risk.
Specification: This proposal (if passed) will lower the minimum loan amount that borrowers can request from $1,000,000 to $10,000.
Off-Chain Vote
YES, Reduce Minimum to $10,000
4.77M 80.9%
NO, Keep Current Parameters
1.12M 19.1%
Timeline
Jan 16, 2021Proposal created
Jan 16, 2021Proposal vote started
Jan 20, 2021Proposal vote ended
Oct 26, 2023Proposal updated