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Loan Plugin

Discussion in 'Suggestions' started by mhow, Nov 10, 2018.

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  1. mhow

    mhow Member

    I think a cool addition to the server would be a plugin where players could offer loans to other players and charge an interest rate. This would be a good possible source of income for established players and offer less established players a way to fund the cost of building a base. The lenders can choose how much money they would like to loan and set an interest rate percentage, similar to how mule jobs work. Interest rates would be payed daily by the borrower, and if the borrower does not have enough money in their balance to pay the interest, it adds to the principle amount. Lenders could also set a maximum amount of time for the loan to be payed back. Borrowers can choose to pay loans whenever they would like within the time period. Interest will be automatically taken out if the borrower chooses not to pay any that day. There could also be a credit tracking system that tracks if players are paying on time or not, similar to mule reputation. Borrowers can apply for loans and the lenders can choose who to loan money to based off their credit reputation, and other factors like online time, join, date, and other data that could show how serious a player is about playing on the server. There could also be an insurance system that pays back a portion of a loan to the lender in case a player goes inactive while still owing money. I think this would be an amazing, unique feature that would introduce investing into the server. I sometimes see people requesting loans in chat and I think it would be a very useful plugin to have.
  2. Chris Smith

    Chris Smith New Member

    This idea would make some new player accidently borrow a huge amount of money and then eventually they can not pay back forcing them to leave the server as if they kept playing, it would result in them constantly trying to pay back their "loan". Players can easily earn 50k+ from voting on all 6 websites and selling the points if they wanted to establish themselves in playing the server from the start.
  3. mhow

    mhow Member

    Chris, the loans would be offered by players. The players offering the loan would have to accept the borrowers request. So if I offered a $500k loan, players could apply for it. I then would get to choose which player to loan it to or I could decline them all. I would not give the loans to new players because I risk losing all that money if they decide to quit and not pay back. I would give the loan to a more experienced player that has payed off loans before and I know will not quit.
  4. RebelKnox

    RebelKnox New Member

    This would be very cool, upvote from me!
  5. Cythekid

    Cythekid New Member

    Upvote from me i think this is great but should unlock once you reach MassProducer and up
  6. mhow

    mhow Member

    Yes I think that is a good idea. That way players will have put some time into the server and are less likely to go inactive.
  7. mhow

    mhow Member

    Yea I know a plugin like this would have been very useful for me after I had been raided. I need about $12 million to build a new base and a loan would have helped me get back up and running much faster than having to grind for the money to build it.
  8. GotEdit

    GotEdit Well-Known Member Contributor II MVP+

  9. mhow

    mhow Member

  10. GotEdit

    GotEdit Well-Known Member Contributor II MVP+

    I understand. The owners would most likely not implement a plugin like this because they do not like money being added by the server through this way. People offer the loans and they work very well.
  11. mhow

    mhow Member

    Yea my idea is for the loans to be offered to players by other players so no money would be added to the server. This plugin would simply be used to manage loans between players officially, keep track of interest and payments, and offer some kind of insurance to players offering loans in case they loaned money to a player that goes inactive without paying their debt back. Think of it this way. Imagine the mule plugin didn't exist. Players could still give drugs to other players and have them run for a cut, but they would have to trust the mule to pay back their share and not steal their drugs. It would cause a lot of conflicts and nobody would really sell that way. Since there is a mule plugin players are able to safely mule their drugs and are guaranteed to get their cut if the job is successful. The loan plugin idea is similar to the mule plugin in a way. It simply organizes a type of transaction between players in a way that prevents scamming and makes it safer for everyone.
  12. mhow

    mhow Member

    I thought of an idea for insurance for the players offering the loans. If the borrower has failed to pay the loan by the set deadline, they are demoted ranks to liquidate the ranks value to pay back the loan. For example, let's say a player 1 offers a $1 million loan to player 2, who is KingPin rank, for 1 week. Player 2 did not pay back the loan and only had $5000 in their account when the loan was supposed to expire so the loan could not be payed back. Player 2 would be demoted from KingPin to MassProducer to liquidate the value of the KingPin and Chemist ranks. KingPin is worth $800k and Chemist is worth $600k so their combined value is $1.4 million. $1 million of that money would be used to pay back player 1 for the loan and that would leave player 2 with the $400k leftover from being demoted + the $5k they had in their balance leaving player 2 with $405k in their balance.

    Players would not be allowed to get loans for more than what their ranks are worth. So a player who is a Smuggler, which is worth $85k, could not take out a loan for more than $85k. I understand there a few ways to exploit this but they can be prevented. A player could exploit is by taking out a loan then joining the police, which would reset the value of their rank to $0. To prevent this, players with active loans would not be allowed to join the police force until the loan is payed. Also police would not be allowed to resign if they had an active loan as well. Players could also purposely fail a loan to get demoted and then rank up to get keys again. There would have to be a system that tracks the players highest past rank and does not give keys until they rankup past their highest rank.

    Using this way to do loans would eliminate the need for credit tracking. This way is an alternative to my original idea, which would have risk for the lenders. With this alternative the risk for the lender is eliminated.
  13. bbwadj

    bbwadj New Member

    I think that is a great idea. But, there would need to be a way for people to not abuse it. I think that it would have to be less money for lower ranks and higher for the higher ranks. This would prevent abuse from the lower ranks with the loan system.
  14. CodGlitchesHD

    CodGlitchesHD Member

    I feel this would be pretty much useless because realistically ranks barely matter imo (in terms of making money)
    and bases are pretty cheap if you're not trying to make something completely insane which I'd assume someone taking a loan isn't since they're most likely semi-new however obviously there could be very rare occasions where a faction wants to fully go all out. For example I've earned ~60m and I'm sat on KingPin rank and the only reason I ranked to Chemist+KP was because i couldn't be bothered to sell my own paper when I first started however it would have easily been possible if I wasn't rushing 5k herb. If ANYTHING, I'd say the one thing that actually affects gameplay which requires money is getting a tier 3 horse as the difference between having one and not having one is massive.

    The main problem I could see with something like this is people getting their friends to log and look reputable such as afking for higher playtime, giving them money to rank so they look like they've achieved something and then taking a loan just to never play again and delete a portion of the person giving the loan's balance. I understand you said there could be an insurance policy but surely you could just counter that by take a loan -> /pay your mate the money -> log off until insurance pays out -> ez money dupe?

    tl;dr could be a nice concept IF there were actual reasons you needed the money but imo there just isn't enough to justify using this plugin as I feel it'll do more harm than good
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