Borrowing Payment Plan
Last updated
Last updated
At the Demiourgos Lending Platform, accessing USDC funds has never been more straightforward. Tailoring your borrowing experience to your unique needs is made seamless with the flexibility to select a Payment Plan that suits you, offering options for daily payments (up to 365 days) or monthly payments (up to 12 months). To further enhance your borrowing benefits, you also enjoy bonuses on your loan, contingent upon your completed Elite Account Tier.
The Payment Plan incorporates key factors:
The Principal Amount [P] (the USDC amount received),
The Number of Repayment Intervals [n] (freely chosen between 1 and 365 for daily loans or between 1 and 12 for monthly loans),
The Resulted Interest Rate in decimal format [r].
These elements are utilized to calculate the Payment Amount per Payment Interval through the application of the Present Value Variant for the Annuity Formula:
The Percentual Interest Rate is computed using the following formula:
The Decimal Interest Rate is the Percentual Interest Rate divided by 100.
When opting for a loan, individuals have the flexibility to select between Daily Payments (spanning up to 365 days) or Monthly Payments (spanning up to 12 months). The Repayment Interval is determined by this choice, and their Elite Account Tier (DEB v1.0):
Daily Repayment Interval: Set at 24 hours, with an additional hour granted for each completed Elite Account Tier.
Monthly Repayment Interval: Fixed at 720 hours, with an extra 30 hours allocated for each completed Elite Account Tier.
In DEB 2.0 the following Minutes are added to each Payment Interval for the Daily Loan Type. For the Monthly loan time, the amount added is 30x.
nT0
0
nT1
0
ST1
0
65
125
185
245
305
380
ST2
10
70
130
190
250
310
400
ST3
20
80
140
200
260
320
420
ST4
30
90
150
210
270
330
440
ST5
40
100
160
220
280
340
460
ST6
50
110
170
230
290
350
480
ST7
60
120
180
240
300
360
500
Consequently, individuals with higher Elite Account Tiers enjoy a marginally extended repayment period, contributing to a more accommodating and tailored borrowing experience.
The Elite Period is a distinctive phase that precedes the initiation of Repayment Intervals. During this interval, the loan remains free from interest accrual, allowing users the advantage of settling it entirely with zero interest. Subsequent to the conclusion of the Elite Period, the Repayment Intervals commence, marking the initiation of interest accumulation on the Principal.
The duration of the Elite Period is determined by the Elite Account Tier (7 hours per Elite Account Tier, in DEB v1.0). In DEB v2.0 the following Schema will be applied.
nT0
0
nT1
0
ST1
1
8
15
22
29
36
46
ST2
2
9
16
23
30
37
50
ST3
3
10
17
24
31
38
54
ST4
4
11
18
25
32
30
58
ST5
5
12
19
26
33
40
62
ST6
6
13
20
27
34
41
66
ST7
7
14
21
28
35
42
70
