SPLASH LENDING
What is it? You ask. Well, it’s the newest release from Guppys which allows iPlay holders who have pledged their iPlay to the casino servers the ability to instantly unpledge their iPlay and receive a loan in IOST, VOST or iTRX. No more waiting 7 days to receive your iPlay! Now, this is a little different than our traditional Zero Interest Zero Fee lending model, but a lot of the mechanics behind it are similar. Loan term is still 30 days, you will pay no interest on your loan during that time. However, when you repay your loan, the iPlay will be immediately available to you for you to repledge and earn dividends the day you repay. There is a transactional fee on all SPLASH Loans. This fee is 10% of the iPlay that is withdrawn and will be dispersed in the following method:
- 4% will go to an immediate burn of the iPlay token
- upto 5% will be airdropped to all lenders in the contract that the loan was taken out of
- a minimum of 1% will go to Guppys for operational costs
How will you use your SPLASH Loan?