Manifold just introduced more changes to how the loan system works see: https://manifold.markets/post/new-financial-system?r=S2ZyZWRyaWM
Will they introduced yet more changes to how the loan system or new interest system work before the this market closes on Saturday the 17th. Any change counts although if its minor pls link the comment by Manifold staff to prove the change.
1,000Copy of the OG post to look for stealth edits.
Manifold has replaced the Daily Loan with a full-fledged margin trading system and 5% annual interest on all positions.
These changes make it easier than ever to access mana trading capital and earn interest on longer term markets.
Margin trading
Instead of a daily loan, users can access margin loans at any time to borrow mana to trade with.
Margin loans can be paid back at any time.
Margin loans can be accessed in 2 ways: on a per market basis, and across all positions.
The maximum loan amount is equal to 50% of a users net worth.
Users are limited to claiming no more than 10% of their net worth in loans per day.
Loans on markets are limited to the lesser of 25% of the position value or 5% of their net worth.
Markets must be listed, ranked, and actively traded to be eligible for new margin loans.
Margin loans accrue interest at the rate of 0.03% per day. Trades made using loans are eligible for the 5% annual interest payments. So, the net financing for leveraged positions is ~5% per year.
Previous interest-free loans have been fully grandfathered in and will not accrue any fees going forward.
Interest
We're happy to report the platform will now pay interest at the rate of 5% per year automatically on all market positions at market resolution.
E.g. if you bet 100 mana on YES at 50% and the market resolves YES one year later, you will receive a payout of 210 mana (200 mana in winnings plus 10 mana in interest). NO bettors will not earn any interest. Note the change from previous behavior.
You will earn interest immediately upon selling positions.
Interest payments will apply immediately to all eligible markets on the platform, i.e. you will be paid interest retroactively for markets resolving today.
Unlisted or unranked markets are ineligible for interest payments.
Only positions on markets will earn interest; mana balances will not.