KR102672503B1 - Computing system enables investment through bidirectional deposit of collateral and control method thereof - Google Patents

Abstract

The present invention relates to a lending system based on collateral. More specifically, the present invention is a computing system that receives collateral from a borrower terminal and processes a loan to the borrower terminal, comprising a communication unit for connecting to a network for transmitting and receiving data with the borrower terminal and an exchange, and data related to the loan. It includes a storage unit for storage, and a processing unit to process loan payments in response to a loan request received from the borrower terminal, wherein the processing unit processes the collateral to be provided from the borrower terminal, and a portion of the provided collateral. Alternatively, all of the collateral may be invested as a downward deposit, and the remainder of the collateral may be invested as an upward deposit, and the investment as the downward deposit and the upward deposit may generate profits when the price of the collateral falls and rises, respectively. It is a type of investment, and the two-way deposit ratio, which is the ratio of the down deposit and the up deposit, is set by the borrower terminal. It relates to a computing system that allows investment through two-way deposit of collateral.

Description

A computing system enabling investment through two-way deposit of collateral and its control method {COMPUTING SYSTEM ENABLES INVESTMENT THROUGH BIDIRECTIONAL DEPOSIT OF COLLATERAL AND CONTROL METHOD THEREOF}

The present invention relates to a system for making loans using collateral as collateral, and more specifically, to depositing collateral as an investment that generates profits when the value of collateral rises and/or falls, and providing loans corresponding to the deposited collateral. It relates to a system that executes and a method of controlling it.

The importance of cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) as online payment methods is steadily increasing. The use of online payments (or settlement) is rapidly increasing with the widespread use of the Internet and smartphones and the emergence of simple payments. This is because cryptocurrency has very good advantages that traditional payment methods do not have, such as being able to be used globally (borderless) and allowing parties to transact instantly without a middleman. Therefore, blockchain technology can connect the world as one by providing easy financial services such as online transfers and instant payments to people around the world.

However, one of the biggest obstacles to using cryptocurrency in real life is its very high price volatility. This makes it very difficult to use cryptocurrency as a medium of exchange and store of value. This is because such severe price volatility is likely to cause economic disadvantages to one party to the contract. For this reason, stablecoins, which peg the price of the US dollar, a legal tender, or gold, a commodity, are sometimes considered the holy grail of cryptocurrencies. Since the price of these stablecoins is fixed, they not only can be easily used to purchase services or goods, but also have the advantage of being able to be used as a hedge against market volatility. In other words, these are cryptocurrencies that aim to maximize usability by stabilizing prices, and several types of stablecoins that have already implemented a price fixation function are already being traded in the market. Specifically, they can be classified into fiat-collateralized, non-collateralized, and cryptocurrency-collateralized depending on the type of collateral.

Existing secured loans are a method in which a borrower deposits collateral (or an underlying asset) whose price fluctuates for the loan amount to a secured loan operator, ties it up, and pays the loan amount. Therefore, the basic principle is to freeze the collateral as a kind of deposit and return it to the borrower after the contract is terminated. Therefore, the typical characteristic of existing collateral is that it is limited to assets traded in the spot market, such as stocks and real estate.

Existing cryptocurrency collateral loans have the same principles as existing general collateral loans, but the only difference is that they use cryptocurrency as collateral. This can be classified into two types. First, like Compound (https://compound.finance), the loan is paid with another cryptocurrency that already exists, which is the same lending method as an existing collateral loan. For example, this is a method in which a borrower deposits Bitcoin as collateral and pays the loan using Tether, which is already in circulation. The second, like MakerDao (https://makerdao.com)'s DAI, is a new lending method that is completely different from existing collateral loans by issuing and paying DAI, a stablecoin, as a loan, and was first provided by MakerDao. This method has the advantage of being able to obtain various new business opportunities using the stablecoin because the operator uses the stablecoin issued by the operator as a loan.

Figure 1 shows the lending process of DAI, an existing cryptocurrency collateral loan. It consists of a borrower who provides Ethereum (ETH) as collateral and a Collateralized Debt Position (CDP), an operating program that receives collateral and pays DAI, a stablecoin, to the borrower as a loan. In addition to these, there are other clearinghouses for forced liquidation, but DAI's basic loan structure is shown in Figure 1. This is a method in which a borrower provides Ethereum (ETH) as collateral to a CDP, and the CDP ties it to the network and pays the corresponding loan by issuing a new stablecoin, DAI. Therefore, DAI is classified as a cryptocurrency-collateralized stablecoin.

The biggest feature of these collateral loans is that in order to maintain the value of DAI, the borrower freezes the collateral in the CDP and then provides the loan. What this means is that in a conventional mortgage loan, the loan, like all conventional mortgage loans, is secured by collateral that is at the operator's disposal and is locked up as excess collateral. Here, CDP is Ethereum's smart contract, an automated program that operates on the cryptocurrency network.

In other words, these cryptocurrency-collateralized loans provide DAI as a loan through a deposit (or lockup) function that ties collateral to a CDP in order to maintain the value of DAI. This deposit function is essential because it is the last means for the operator to recover the loan by forcibly disposing of collateral. For this reason, all secured loans necessarily include automatic liquidation to force recovery of the loan when the value of the collateral falls. In the case of DAI, the liquidation money recovered through forced liquidation is deposited in the network and continues to be used as collateral for the corresponding DAI. In other words, DAI that has been forcibly liquidated is not incinerated and continues to circulate in the market. Besides this, there is normal 'liquidation' by the borrower. This is a way for the borrower to return all loan funds and terminate the loan normally. In the case of DAI, all DAI returned in this way is burned. Because of this, all other DAI in circulation is always maintained in value by overcollateralized collateral.

However, if forced liquidation occurs, the borrower will not only lose money due to a fall in the price of the collateral, but will also be unable to gain any profits from a re-rise in the price of the collateral in the future. For this reason, in all secured loans, the higher the price volatility of the collateral, the higher the over-collateralization required from the borrower. For this reason, assets with less price volatility are inevitably preferred as collateral for all secured loans. This is because, for the same excess collateral, as the price volatility of the collateral increases, the risk of forced liquidation also increases proportionally. As a result, in all secured loans, assets with low price volatility are inevitably preferred as collateral.

However, the historical volatility of cryptocurrency prices is much greater than that of traditional collateral such as real estate or stocks. For example, according to the coinmarketcap.com site, the price of Bitcoin (BTC) rose approximately 10.5 times from $1,883 on July 17, 2017 to $19,896 on December 17, 2017, about five months later. And about 10 months later, on October 16, 2018, it fell by about 84% to $3,228. In addition, about 8 months later, on June 27, 2019, it rose again by about 4.2 times to $13,725. As such, the historical volatility of cryptocurrency prices is much higher than that of stocks or real estate, which are collateral for existing mortgage loans. In other words, cryptocurrency as collateral has a much higher risk of being forced to liquidate than existing collateral, which creates the problem of requiring more excess collateral. As a result, the average Loan-to-Value Ratio (LTV) of existing cryptocurrency collateral loans is approximately 30%, which is much lower than that of existing collateral. Figure 1 is an example of paying $30 of DAI as a loan when a borrower provides $100 of Ethereum as collateral. So its LTV is 30%. For reference, in a secured loan, the loan amount is calculated by multiplying the value of the collateral at the time of loan by the LTV.

In all mortgage loans currently provided, including cryptocurrency collateral loans, the operator operates with the concept of storing the collateral entrusted by the borrower. In other words, in a conventional collateral loan, the operator temporarily stores the collateral, which is the borrower's asset, while the position of the collateral entrusted by the borrower is maintained, and then returns it to the borrower when it is liquidated. The concept of storage here is an exception in which, if the value of the collateral falls, additional collateral is requested or the loan is recovered through forced liquidation.

However, in all existing collateral loans, collateral is deposited in only one direction, where the value of the collateral increases only when the price rises, which creates a fatal problem. This means that in a traditional mortgage loan, the borrower always receives the loan by betting on the price of the collateral rising. Therefore, the value of the collateral for existing secured loans has the disadvantage of only increasing when the price rises, that is, when it moves in only one direction. Let’s call this the ‘one-way deposit method of collateral.’ In other words, in existing secured loans, all collateral has a one-way profit structure that bets on upside profits.

Existing cryptocurrency collateral loans such as DAI also use the same one-way deposit method in which CDP simply stores Ethereum. In conclusion, in all existing secured loans, collateral always uses a one-way deposit method. However, because of this, all existing mortgage loans have serious disadvantages that limit borrowers' options.

Therefore, there is a need for research on a computing system that can bet on falling profits rather than rising profits of collateral.

The present invention aims to solve the above-mentioned problems and other problems. Another purpose is to provide a collateral loan system that allows two-way deposit of collateral according to the borrower's choice.

The purpose of the present invention is to provide a secured loan system that pays the borrower the investment performance according to the two-way deposit ratio selected by the borrower at the time of liquidation.

The purpose of the present invention is to provide a collateral loan including a two-way deposit method that allows profits to be earned even when the price of the collateral falls.

The purpose of the present invention is to provide a secured loan system that includes a fixed value portion of the loan.

The purpose of the present invention is to provide a method by which a borrower can reduce the risk of forced liquidation by adjusting the two-way deposit ratio.

The purpose of the present invention is to provide a collateral loan system that includes a fixed value portion that can receive a higher collateral recognition ratio among loans based on the same collateral.

The technical problems to be achieved in the present invention are not limited to the technical problems mentioned above, and other technical problems not mentioned will be clearly understood by those skilled in the art from the description below. You will be able to.

In order to achieve the above or other objects, according to one aspect of the present invention, in the computing system that receives collateral from a borrower terminal and processes a loan to the borrower terminal, it is connected to a network for transmitting and receiving data with the borrower terminal and the exchange. Department of Communications to: a storage unit for storing data related to the loan; and a processing unit that processes loan payments in response to a loan request received from the borrower terminal, wherein the processing unit processes the collateral to be provided from the borrower terminal, and deposits part or all of the provided collateral as a down deposit. The remainder of the collateral is processed to be invested as an upward deposit, and the investment as the downward deposit and the upward deposit is a type of investment that generates profit when the price of the collateral falls and rises, respectively, A computing system that allows investment through two-way deposit of collateral is provided, wherein the two-way deposit ratio, which is the ratio of the downside deposit and the upside deposit, is set by the borrower terminal.

The processing unit receives a leverage setting request from the borrower terminal,

The requested leverage may be applied to the investments as the upward deposit and the downward deposit.

The processing unit processes the loan to be paid in fiat currency or cryptocurrency, and the cryptocurrency paid as the loan may be a newly issued stablecoin based on the collateral.

The investment as the upward deposit or the downward deposit may be an investment through margin trading, derivatives, funds, or securities performed on the exchange.

The loan may be made to include at least one of a value variable portion whose value fluctuates in response to price fluctuations of the collateral and a value fixed portion whose value does not fluctuate.

The processing unit sets the collateral recognition ratio (LTV) of the value fixed portion higher than the collateral recognition ratio of the value variable portion, and sets the collateral recognition ratio corresponding to the value variable portion and the value fixed portion separately. By reflecting this, the amount of the loan can be determined.

The processing unit processes forced liquidation of the value-fluctuating portion of the loan when a deficiency in the value of the value-fluctuating portion is expected, and fixes the value if the value-fixed portion exists even if forced liquidation occurs in the value-fluctuating portion. Partial loans can be processed to continue to be maintained.

The collateral recognition ratio of the value change portion can be determined based on the liquidation price at which forced liquidation occurs.

When a liquidation request is received from the borrower terminal, the processing unit checks whether all of the loan amount has been recovered, and when confirmed to have been recovered, processes to recover the collateral invested in the exchange, and stores the recovered collateral in the The above liquidation can be completed by returning it to the borrower terminal.

In order to achieve the above or other objects, according to another aspect of the present invention, in the control method of a computing system that receives collateral from a borrower terminal and processes a loan to the borrower terminal, the method includes processing to receive the collateral from the borrower terminal. step; Processing to pay the loan amount in response to a loan request received from the borrower terminal; and processing some or all of the provided collateral to be invested as a down deposit, and processing the remainder of the provided collateral to be invested as an up deposit, wherein the down deposit and the investment as the up deposit are determined by the price of the collateral. This is a type of investment that generates profits when each falls and rises, and the two-way deposit ratio, which is the ratio of the decline deposit and the rise deposit, is set by the borrower terminal, and the investment is made through two-way deposit of collateral. Provides a control method for a possible computing system.

The effects of the computing system capable of two-way depositing of collateral according to the present invention will be described as follows.

According to at least one of the embodiments of the present invention, a borrower who wishes to receive a loan by providing collateral has the advantage of being able to bet on both the rise and fall of his collateral.

The present invention has the advantage of providing a collateral loan including a two-way deposit method that allows profits even when the price of the collateral falls.

The present invention has the advantage of paying the borrower the investment performance according to the two-way deposit ratio selected by the borrower at the time of liquidation.

The present invention has the advantage of providing a secured loan system in which there is no forced liquidation for borrowers by including a new fixed value portion in the loan that did not exist in existing secured loans.

The present invention has the advantage of providing a system that allows borrowers to reduce the risk of forced liquidation by adjusting the two-way deposit ratio.

In addition, according to at least one of the embodiments of the present invention, there is an advantage of including a value fixed portion that can receive a higher collateral recognition ratio among loans based on the same collateral.

Further scope of applicability of the present invention will become apparent from the detailed description that follows. However, since various changes and modifications within the spirit and scope of the present invention may be clearly understood by those skilled in the art, the detailed description and specific embodiments such as preferred embodiments of the present invention should be understood as being given only as examples.

Figure 1 shows the lending process of MakerDao’s DAI stablecoin, an existing cryptocurrency collateral loan.
Figure 2 shows a block diagram of a computing system 12 capable of investing through two-way deposit of collateral according to the present invention, a terminal connected to the computing system, and exchange computing devices.
Figures 3 and 4 are diagrams showing an embodiment of a cryptocurrency collateral loan method using two-way deposit of collateral according to the present invention.

Hereinafter, embodiments disclosed in the present specification will be described in detail with reference to the attached drawings. However, identical or similar components will be assigned the same reference numbers regardless of reference numerals, and duplicate descriptions thereof will be omitted. The suffixes “module” and “part” for components used in the following description are given or used interchangeably only for the ease of preparing the specification, and do not have distinct meanings or roles in themselves. Additionally, in describing the embodiments disclosed in this specification, if it is determined that detailed descriptions of related known technologies may obscure the gist of the embodiments disclosed in this specification, the detailed descriptions will be omitted. In addition, the attached drawings are only for easy understanding of the embodiments disclosed in this specification, and the technical idea disclosed in this specification is not limited by the attached drawings, and all changes included in the spirit and technical scope of the present invention are not limited. , should be understood to include equivalents or substitutes.

Terms containing ordinal numbers, such as first, second, etc., may be used to describe various components, but the components are not limited by the terms. The above terms are used only for the purpose of distinguishing one component from another.

When a component is said to be "connected" or "connected" to another component, it is understood that it may be directly connected to or connected to the other component, but that other components may exist in between. It should be. On the other hand, when it is mentioned that a component is “directly connected” or “directly connected” to another component, it should be understood that there are no other components in between.

Singular expressions include plural expressions unless the context clearly dictates otherwise.

In this application, terms such as “comprise” or “have” are intended to designate the presence of features, numbers, steps, operations, components, parts, or combinations thereof described in the specification, but are not intended to indicate the presence of one or more other features. It should be understood that this does not exclude in advance the possibility of the existence or addition of elements, numbers, steps, operations, components, parts, or combinations thereof.

Figure 2 shows a block diagram of a computing system 12 capable of investing through two-way deposit of collateral according to the present invention, a terminal connected to the computing system, and an exchange computing device.

The present invention may include a borrower terminal 11, an exchange computing device 15 (hereinafter referred to as an exchange), and a computing system 12, all of which are connected to a cryptocurrency network 13 and/or a general network 13. ), data can be transmitted and received.

The computing system 12 according to an embodiment of the present invention includes a communication unit 12c for connecting to a network 13 for transmitting and receiving data with the borrower terminal 11 and the exchange 15, and data related to the loan. It may include a storage unit 12b for storage, and a processing unit 12a for processing loan payments in response to a loan request received from the borrower terminal. The processing unit 12a may control the overall operation of the computing system 12.

The processing unit 12a processes the collateral to be provided from the borrower terminal 11. At this time, the computing system 12 may directly receive the collateral, or a third party (or a computing system of an exchange operated by a third party, etc.) may receive the collateral. In other words, not only can the processing unit 12a store some or all of the collateral, but also transfer some or all of the collateral to the exchange 15 and use it under the conditions set by the processing unit, that is, set by the borrower terminal 11. You may also be provided with the option to invest directly in investment products according to the conditions of the two-way deposit ratio.

The computing system 12 according to an embodiment of the present invention may be configured with blockchain technology for issuing and operating cryptocurrency. In other words, in the case of blockchain technology, multiple distributed nodes add and store transaction data to the blockchain, which is the ledger. Additionally, in the case of the above exchange, a decentralized exchange operated on a blockchain may be used, or a centralized exchange, that is, an exchange operated as a server, may be used. In contrast, in the case of the fiat currency-based collateral loan system according to the present invention, the computing system 12 and the exchange according to an embodiment of the present invention may be configured as servers.

The processing unit 12a may process some or all of the provided collateral to be invested as a downward deposit, and process the remainder of the collateral to be invested as an upward deposit. Investments as the downside deposit and the upside deposit refer to a type of investment in which profits are generated when the price of the collateral falls and rises, respectively.

In particular, in one embodiment of the present invention, the two-way deposit ratio, which is the ratio of the downward deposit and the upward deposit, is proposed to be set by the borrower terminal.

Below, upward deposit and downward deposit are explained in more detail.

The two-way deposit method of collateral according to an embodiment of the present invention proposes a collateral loan method in which the operator invests in an investment product in which the value of the collateral increases when the price of the collateral rises or falls according to a ratio selected by the borrower. In other words, the loan system according to one embodiment of the present invention invests the corresponding collateral in a two-way investment product according to the ratio selected by the borrower, and is a new collateral management system that adds a new investment concept to the operation of collateral. In the detailed description of the present invention, investing so that the value of the collateral increases when the price rises is called 'rising deposit', and conversely, investing so that the value increases when the price of collateral falls is called 'declining deposit'.

For example, in one embodiment of the present invention, a cryptocurrency exchange that provides arbitrary products such as margin trading and derivatives trading can be used to make profits from 'deposits on the rise' and 'deposits on the decline' of the collateral price. Of course, the upward deposit and the downward deposit refer to any investment or investment product with any form and any investment structure that profits by increasing the value of the corresponding collateral in response to the rise and fall in the price of the collateral, respectively. Therefore, the two-way deposit can mean any product that can be invested in both directions. In general, when using derivatives, upward deposit and downward deposit are invested in long and short positions, respectively, as collateral. says that

Table 1 below is an example showing the change in value of collateral when the price of Bitcoin (or the price of the underlying asset) changes by ±50% after a borrower deposits 1 BTC of Bitcoin as collateral in both directions. In the table, upward and downward deposits assume an ideal situation in which investments are made in products denominated in BTC and inverse BTC, respectively, and there are no transaction fees. In addition, it is assumed that the price of the underlying asset and these two products at the time of the loan is $10,000, and that the price of the underlying asset increases ±50% after the loan, so that the price of the underlying asset is $15,000 and $5,000, respectively, and the loan is settled. And these two products are assumed to accurately track in both directions at a rate of 1 times the price of the underlying asset without leverage. Here, the two-way deposit ratio refers to the ratio of upward and downward deposits selected by the borrower when making a loan. For example, in the table, a (two-way) deposit ratio of 90:10 is 90% and 10% for upward and downward deposits, respectively. It means case. And in the example in Table 1, the underlying asset is Bitcoin, which is physical.

Table 1 shows the LTV and profit/loss ratio according to ± 50% change in the price of the underlying asset at various two-way deposit ratios of collateral (collateral: 1 BTC, price of the underlying asset, BTC product, and inverse BTC product when loaned: $10,000).

In Table 1 above, the (two-way) deposit ratios of '100:0' and '0:100' indicate that all collateral is invested in upward and downward deposits, respectively. And the deposit ratio of '70:30' is when collateral is invested in upward and downward deposits at a rate of 70% and 30%, respectively. In this case, if it is liquidated when the price of Bitcoin, the underlying asset, rises by 50%, the borrower receives 0.8 BTC back and loses 0.2 BTC, as shown in Table 1, but the rate of return converted to dollars is 20%. And since the LTV of the loan is 57%, it is higher than the LTV of 30% when all collateral is invested in rising deposits. Here, this LTV (30%) is the average value of a cryptocurrency-backed loan, and this is just an example.

Below, we will explain in detail how to determine the loan amount.

The loan amount is calculated by multiplying the value of the collateral at the time of loan by the LTV. In the system of the present invention including the two-way deposit method, the LTV of the loan can be separated into two parts. In other words, there are parts of collateral and loans whose value does not change and parts whose value fluctuates over time after the loan.

In the present invention, the part of the collateral and loan whose value fluctuates according to the change in the price of the collateral after the loan is defined as the 'value fluctuating part', and the part where the value of the loan does not change and is fixed even if the price of the collateral changes is defined as the 'value variable'. Defined as ‘fixed part’. The loan according to an embodiment of the present invention may be made to include at least one of a value variable portion whose value fluctuates with respect to price fluctuations of the collateral and a value fixed portion whose value does not fluctuate. For reference, for existing mortgage loans, all loans fall under the variable value portion.

In particular, one embodiment of the present invention proposes setting different LTVs for the fixed value portion and the variable value portion of the loan. That is, the collateral recognition ratio (LTV) of the fixed value portion can be set higher than the collateral recognition ratio of the value variable portion. In this embodiment, the amount of the loan may be determined by separately reflecting the collateral recognition ratio of the value variable portion and the value fixed portion, as shown in Table 1.

This is because the variable value portion cannot be recognized as a high LTV because the value literally changes easily over time after the loan, but the fixed value portion can be recognized as a high LTV because the value changes little or not at all. . That is, the amount of the loan can be determined by setting the collateral recognition ratio of the value-fixed portion to 100% or less to prevent forced liquidation due to lack of collateral in the value-fixed portion.

For example, in Table 1, the LTV for the fixed value portion and variable value portion of the loan was set to 95% and 30%, respectively. For this reason, in the table, in the case of '50:50' and '100:0' (two-way deposit) deposit ratio, the LTV is 95% and 30%, respectively. As shown in Table 1, in the case of a collateral deposit ratio of '30:70', 30% each of upward and downward deposits, therefore, a total of 60% is completely hedged in opposite directions, so this portion of the loan and Collateral maintains the same value as at the time of loan, regardless of changes in the price of the underlying asset after the loan. However, the value of the remaining 40% of loans and collateral that fluctuates in value changes according to changes in the price of the underlying asset. In this case, the variable value portion and fixed value portion of the collateral at the time of loan are $4,000 and $6,000, respectively, as shown in the table. The variable value portion and fixed value portion of collateral and loans are shown in Table 1.

The reason why the loan is divided into two parts in the present invention is because the risk of loss in these two parts is completely different due to price changes in the underlying asset after the loan. For this reason, in the table, the collateral recognition ratio of the value-fixed portion of the loan is set at 95%, but the LTV of the value-fluctuating portion at both extreme deposit ratios (100:0, 0:100) is set at 30%. As such, there is a big difference in the LTV of these two parts of the loan. For this reason, at a 50:50 deposit ratio, all portions of the loan are fixed value portions ($10,000), so the loan amount is calculated by multiplying this portion by the LTV (95%) at the time of lending. Therefore, as shown in the table, the LTV is 95%. As another example, at both extremes of the deposit ratio (100:0, 0:100), the loan amount is all the variable value portion ($10,000), so the loan amount is calculated by multiplying this portion by LTV (30%). Therefore, at a deposit ratio of 100:0, LTV is 30%. In other cases, the loan in the table may include only the fixed-value portion or both portions. For example, at a deposit ratio of 90:10, the loan includes both a floating value portion ($1,333) and a fixed value portion ($1,900). Here, the loan amount for the fixed value portion is calculated by multiplying the fixed value portion of the collateral ($2,000) by the LTV (95%). In addition, the loan amount in the value change portion ($1,333) is calculated based on the liquidation price as shown in Table 2 below, and is added to the value change portion ($8,000) of the collateral to be liquidated if the underlying asset falls to the liquidation price. By subtracting $6,400 and dividing this by the liquidation ratio, we decided on $1,333. Therefore, in this case, the LTV of the mortgage loan is 32.3%. In contrast, at a deposit ratio of 70:30, the loan includes only the fixed-value portion, and this portion of the collateral ($6,000) is multiplied by the LTV (95%), resulting in $5,700.

The processing unit 12a of the computing system 12 according to an embodiment of the present invention performs forced liquidation of the portion of the loan when the value of the portion of the loan whose value fluctuates is expected to be insufficient due to an increase or decrease in the collateral value of the collateral. will be able to handle it.

In another embodiment of the present invention, to prevent forced liquidation of the value-fixed portion of the loan due to changes in the price of the collateral, the computing system 12 keeps the value of the value-fixed portion of the loan constant when the price of the collateral fluctuates. It can be set to automatically change the ratio of the upward deposit and the downward deposit corresponding to the value fixed portion so that it is maintained. In other words, the ratio of collateral in the two deposits can be changed so that forced liquidation does not occur due to insufficient value of one of the rising and falling deposits among the fixed value portion.

Alternatively, in another embodiment of the present invention, the amount of the loan may be determined including only the fixed value portion. In other words, a specific two-way deposit ratio can be set not to include loans for value fluctuations. According to this embodiment, there is an advantage that there is no forced liquidation due to insufficient value of the collateral.

The characteristics of the two-way deposit method shown in Table 1 are summarized as follows.

Borrowers can earn profits by increasing the decline deposit ratio even if the price of collateral falls. This is a new deposit method according to the present invention that does not exist in existing secured loans.

Lenders can adjust the two-way deposit rate to include a fixed-value portion that is not present in a traditional mortgage loan. This portion of the loan can offer very high LTVs because its value does not fluctuate.

The higher the percentage of fixed-value portion, the higher the LTV, so the loan amount increases accordingly. Because of this, as the two-way deposit ratio approaches 50%, the difference in dollar profit/loss ratio depending on the betting direction becomes smaller.

The higher the downside deposit ratio, the greater the difference in Bitcoin's profit/loss ratio depending on the direction of the collateral bet.

The two-way deposit method according to an embodiment of the present invention can invest in any product such as margin trading, derivatives, cryptocurrency ETF, securities, or fund on an exchange in order to invest collateral in both directions. And the exchange according to the present invention may be an exchange that trades assets based on cryptocurrency or fiat currency. If the loan is in cryptocurrency, the operator can use a centralized exchange at the beginning of the business, but will use a decentralized exchange (DEX) if conditions are met. Therefore, in one embodiment of the present invention, a decentralized exchange (DEX) can be used to invest in investment products to deposit the amount of collateral. In this case, anyone can transparently check the status of the collateral on the blockchain. In contrast, if the loan is in fiat currency, the exchange may be a fiat-based centralized exchange that trades derivatives such as stocks or commodities. For example, in the present invention, the borrower uses Samsung Electronics stocks as collateral. As another example, in the case of foreign exchange trading, the borrower may deposit the Korean won as collateral and provide a collateral loan by receiving fiat currency as a loan and investing in the corresponding futures product according to the two-way deposit ratio selected by the borrower. A secured loan can be structured to borrow dollars.

Currently, there are many centralized cryptocurrency exchanges that allow two-way deposits. In December 2017, the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) began trading Bitcoin futures. In addition, centralized platforms such as BitMEX (https://www.bitmex.com), OKEX (https://www.okex.com), and Binance (https://www.binance.com) The exchange supports derivatives and margin trading with Bitcoin as the underlying asset and currently provides sufficient trading volume. However, DEXs that trade cryptocurrency derivatives currently have very low trading volume. For example, DEXs that support Ethereum derivatives include dxdy exchange (https://trade.dydx.exchange) and synthetix exchange (https://synthetix.exchange). And there are many more fiat-based assets or products or foreign exchange exchanges for applying the two-way deposit according to the present invention.

Now let’s look at the forced liquidation of the system 12 according to the present invention.

In existing mortgage loans, all loans are subject to changes in value. For this reason, if the value of the collateral falls, the loan may be forcibly terminated through forced liquidation to forcibly recover the loan amount. In DAI described above, the liquidation price is determined by the liquidation ratio. For example, since the liquidation rate of DAI is 150%, forced liquidation occurs when the value of the collateral reaches 150% of the loan amount. In this case, if the LTV of the loan is 30%, forced liquidation occurs when the value of the collateral falls to 45% compared to the time of the loan.

According to another embodiment of the present invention, forced liquidation occurs for the loan in the value-changing portion, but the loan amount may be determined so that forced liquidation does not occur for the loan in the fixed-value portion. For the examples in Tables 1 and 2, the loan amount, or LTV, is determined to prevent forced liquidation in the value fixation portion. For example, in Tables 1 and 2, since the LTV of the fixed value portion is 95%, insolvency (default) on this portion will not occur at all even if the price of the collateral fluctuates after the loan. Under these conditions, if only the value-fixed portion of the loan is included, there is the advantage of being able to implement a secured loan without forced liquidation. This is a very good advantage of the mortgage loan according to the present invention that existing mortgage loans do not have. For example, at a deposit ratio of 70:30 in Table 1, the loan includes only the fixed value portion of the collateral ($6,000) and multiplied by the corresponding LTV (95%), resulting in $5,700. Therefore, in this case, not only is there no forced liquidation in the collateral loan according to the present invention, but the LTV is 57%, which has the advantage of being higher than the LTV (30%) of existing cryptocurrency collateral loans. In contrast, at the 90:10 deposit ratio in Table 1, the loan includes both a variable value portion ($1,333) and a fixed value portion ($1,900). In this case, the variable value and fixed value portions of the collateral were $8,000 and $2,000, respectively. Therefore, in this case, there may be forced liquidation of the portion of the value change.

Table 2 shows the liquidation price of the value-fluctuating portion of the loan and whether forced liquidation occurs at various two-way deposit ratios (collateral: 1 BTC, price of the underlying asset at the time of the loan, BTC product and inverse BTC product: $10,000, liquidation ratio: 120 %) However, Table 2 includes all the assumptions in Table 1.

Table 2 shows that in the case where there is forced liquidation of the portion of the value change, forced liquidation is set to occur when the price of the underlying asset changes by ±64% compared to the time of the loan. Because of this, the forced liquidation price becomes $3,600 or $16,400. In other words, the liquidation price was set so that when the underlying asset price reaches ±64% in the table, forced liquidation occurs in all value fluctuations. In this case, forced liquidation occurs at the same fluctuation range (±64%) in the price of the underlying asset after the loan at all two-way deposit ratios. That is, another embodiment according to the present invention may be such that forced liquidation of the portion of the value change occurs so that the price of the collateral occurs within the same range of change.

Although this method is only one example, it provides the great advantage of allowing borrowers to easily predict the timing of forced liquidation. This liquidation price is specifically the price at which forced liquidation occurs at both extreme two-way deposit ratios (100:0, 0:100). This is calculated by multiplying the value of the collateral ($10,000) by the LTV (30%) and liquidation rate (120%) at both extremes of the deposit rate when lending. Of course, in this case, the LTV (30%) is just an example, so the borrower may receive a larger loan amount than this at the risk of higher forced liquidation.

The most important feature of the computing system according to the present invention is that, unlike existing loan services, the borrower can select a two-way deposit rate so that the loan includes a fixed value portion. In this case, the loan amount can be determined in two ways.

First, if possible, include the portion of the loan that fluctuates in value. The examples in Tables 1 and 2 used this method. However, in this case, forced liquidation of the portion of the loan whose value fluctuates is bound to occur. However, the value-fixed portion of the loan is different. If the LTV of the loan is determined as shown in Tables 1 and 2, loan services for the fixed-value portion of the loan can continue to be provided regardless of forced liquidation. For example, at the 90:10 deposit ratio in Table 2, forced liquidation occurs when the price of the underlying asset falls from $10,000 to $3,600. In this case, as shown in Table 2, forced liquidation occurs when the value of the variable portion of the loan decreases from $8,000 to $1,600. However, even if forced liquidation occurs, the computing system can be configured so that the loan for the fixed value portion of the loan can be maintained.

Second, unlike Table 2, this method includes only one of these two parts in the loan amount. As an example, at both extremes of the deposit ratio, the loan may contain only a floating value portion, and at the other extremes, the loan may contain only a fixed value portion. To this end, the computing system can be configured so that the two-way deposit rate selected by the borrower is set only at intervals of 10%. In this case, there is an advantage that forced liquidation occurs only at the two extreme deposit ratios, and no forced liquidation occurs at all at other two-way deposit ratios. In other words, this example has a great advantage that existing secured loans do not have because permanent loans are possible in all cases except for the extreme deposit ratios. However, this method has the disadvantage of reducing the loan amount compared to the first method. For example, at a deposit ratio of 90:10 in Table 1, only the fixed value portion of the loan ($1,900) is paid out, and the other portion of the loan shown in Table 1 ($1,333) is not paid out, reducing the LTV to 19%. However, this disadvantage only occurs when the two-way deposit ratio is heavily concentrated on one side, as shown in Table 1.

Next, let's find out why the loan amount for the variable value portion is $1,333 at the 90:10 deposit ratio in Table 1. The portion of the loan that changes in value occurs when the underlying asset reaches the liquidation price ($3,600) from $10,000 at the time of the loan. Likewise, forced liquidation occurs when the value of the variable portion of the collateral at the time of loan ($8,000) falls to $6,400, the same amount of change (64%) that causes forced liquidation. Therefore, as shown in Table 2, forced liquidation occurs when the variable value of the collateral decreases to $1,600, and the loan amount is calculated by dividing this by the liquidation ratio (120%). In this way, the loan amount for the portion of the change in value can only be calculated by first determining when forced liquidation will occur.

Therefore, as an embodiment of the present invention, the system may be configured to determine the collateral recognition ratio of the value change portion based on the liquidation price at which forced liquidation occurs.

Below, we will look at the cryptocurrency collateral loan using the two-way deposit method according to the present invention in detail through the issuance and liquidation process of ALFA. Here, ALFA, like DAI, is a stablecoin that receives collateral from a borrower in a collateral loan according to the present invention and issues and pays a new loan as loan money.

Figures 3 and 4 are diagrams showing an embodiment of a method for controlling cryptocurrency collateral loans using two-way deposit of collateral according to the present invention.

According to the illustrated embodiment, a borrower terminal 11 that deposits Bitcoin (BTC) as collateral and receives ALFA as a loan, a computing system 12 (operator) that pays the loan, and the Bitcoin entrusted by the borrower are sent in both directions. It consists of an exchange (15) where derivatives such as futures can be traded for investment. Therefore, this adds a two-way deposit function to the structure of the existing general collateral loan shown in Figure 1 by including a new exchange for two-way deposit of collateral.

Referring to FIG. 3, the method of controlling a secured loan according to the present invention involves the borrower terminal 11 selecting a ratio of upward and downward deposits (70:30 in the example shown) and transferring bitcoin to apply for a loan (S301). ) to start. That is, the borrower chooses to invest $7,000 and $3,000 in upward and downward deposits, respectively, and transmits this to the operator (computing system 12). That is, the two-way deposit ratio, which is the ratio of the downward deposit and the upward deposit, is set by the borrower terminal.

In the example shown, the operator (computing system 12) holds $7,000 of Bitcoin as an up deposit (S302) at the exchange and moves the remaining $3,000 of Bitcoin to the exchange for a down deposit (S303). Invest in applicable derivatives, etc. However, in the case of FIG. 3, it is shown that all collateral ($10,000) is provided to the operator 12 and then transferred to the exchange. However, it is obvious that, unlike this, the collateral may be moved directly from the borrower 11 to the exchange 15. Also, unlike the example shown, the upward deposit ($7,000) may be deposited to the operator 12 instead of the exchange if there is no leverage.

Subsequently, the operator (computing system 12) issues 5,700 new ALFAs equivalent to $5,700 as the loan amount (S304) and pays them to the borrower (S305), and the issuance process is completed. Therefore, in the diagram shown, the LTV on the loan is 57%. And ALFA is a stablecoin whose value is pegged at $1. Figures 3 and 4 correspond to the example of 70:30 in Table 1.

In step S305, the processing unit 12a may process the loan amount to be paid in fiat currency or cryptocurrency. When payment is made in cryptocurrency as in the example shown in FIG. 3, it may be a newly issued stablecoin based on the collateral. In contrast, the cryptocurrency may be a cryptocurrency such as Tether that has already been issued by a third party.

As for the upward deposit explained in Figure 3, if there is no leverage, the corresponding Bitcoin may just be deposited in the exchange, but if leverage exists, upward deposit is possible through investment through margin trading, derivatives, funds, or securities. It will be self-explanatory. Of course, downside deposits are invested in the corresponding derivatives products of the above exchange.

In the case of the above-mentioned DAI, the borrower can use leverage by repeatedly receiving loans by repurchasing Ethereum with the loan amount paid. However, the method of controlling a secured loan according to an embodiment of the present invention allows the borrower to more easily provide a leverage function to the borrower's terminal by investing the collateral in an investment product with leverage on an exchange.

Alternatively, the computing system 12 may further receive a leverage setting request from the borrower terminal 11. The leverage setting request refers to a request to set the leverage ratio for the upward deposit in step S302 or the downward deposit in step S303. In this case, the computing system may receive leverage in step S301.

For example, if the borrower terminal 11 requests to set the leverage ratio to 2x, the computing system 12 applies the requested leverage ratio of 2x to the upward deposit (S302) and similarly applies the requested leverage ratio to 2x to the downward deposit (S303). This means that the requested leverage ratio of 2 times is applied. Alternatively, the leverage of the upward deposit and the downward deposit may be configured to be set differently. According to another embodiment, the leverage may be applied only to the two-way deposit ratio (100:0, 0:100) of both extremes, and the loan amount may not be paid. Because leverage is for speculation, borrowers can use leverage for speculation without receiving loans.

If the borrower invested all of the collateral in an upward deposit with 2x leverage, as shown in Table 1, when the price of Bitcoin is 15,000 and $5000, the price of the product becomes 20,000 and $0, respectively, and the PNL Ratio is Each is ±100%. This is a double increase in profit/loss ratio compared to the case without leverage in Table 1. However, in this case, it is clear that the borrower may have to take on this risk because the risk of the borrower being forced to liquidate increases.

Figure 4 shows an example of the liquidation process of the secured loan control method according to the present invention by a borrower. The borrower terminal 11 returns all of the loan amount, 5,700 ALFA, to the operator and requests liquidation (S401). The computing system 12 that has received the liquidation request checks whether all the loan amount (ALFA) has been recovered, and when confirmed, incinerates all the ALFA returned from the borrower terminal 11 (S402). Then, the computing system 12 retrieves all collateral invested in both directions from the exchange (S403), returns it to the borrower as recovery money (S404), and ends the liquidation process. In the case of drawings, the recovery amount is BTC. Then, all issued ALFA is incinerated, so the processes in Figures 3 and 4 have no effect on the total amount of ALFA issued.

Collateral according to an embodiment of the present invention may use Bitcoin, which has the lowest price volatility among cryptocurrencies. The advantage of Bitcoin is that it not only has the most developed cryptocurrency trading market such as derivatives for two-way deposit of collateral, but also has the lowest price volatility among cryptocurrencies. This is because, in collateral loans, excess collateral can be reduced by selecting collateral with low price volatility. Meanwhile, the present invention is not limited to this, and other cryptocurrencies such as Ethereum may be used as collateral in the future. In addition, collateral according to the present invention may be any asset or product capable of two-way deposit based on fiat currency.

As described above, in one embodiment of the present invention, a stablecoin was proposed as a cryptocurrency for the loan amount. Below we look at the characteristics of stablecoins in more detail.

The price of stablecoins can be fixed through exchange through an exchange. In this case, this exchange exchanges stablecoins at a set price. For example, at this exchange, ALFA can be exchanged for Tether at a fixed 1:1 ratio. In this case, ALFA's price fixation will rely on users' arbitrage. Reliance through arbitrage means that the price can be fixed through the process of users making a profit by buying ALFA at a lower price among this exchange and other exchanges and selling it at a higher price.

Furthermore, the computing system 12 according to an embodiment of the present invention can be configured as a smart contract or DApp that runs on the blockchain so that the status of collateral can be transparently announced on the blockchain. . This can be implemented so that the transfer details of Bitcoin, which is collateral, and the issuance amount of ALFA can be immediately confirmed on the corresponding blockchain network.

Figures 3 and 4 are just one example of a cryptocurrency collateral loan. The present invention can also be applied to collateral loans based on fiat currency such as stocks. For example, the borrower deposits Samsung Electronics stocks, receives fiat currency for the loan, and invests in the corresponding product according to the two-way deposit ratio on an exchange that trades Samsung Electronics derivatives at the two-way deposit ratio specified by the borrower. can do. Therefore, the present invention can be operated by providing the operator with assets traded in the fiat currency-based spot market and the two-way deposit ratio, and the operator invests the assets in the corresponding derivative according to the two-way deposit ratio. Therefore, the present invention is not limited to cases where the collateral is cryptocurrency, but can be applied to any asset, currency, or product that can be deposited in both directions. In other words, if it is a product such as crude oil or foreign exchange trading (FX) and there is an exchange that allows two-way deposits, the collateral loan system and control method according to the present invention can be applied. Therefore, in the present invention, collateral and loans can include everything that can be deposited and traded in both directions, regardless of type or form.

The advantages of the computing system according to an embodiment of the present invention are described below.

1) The present invention provides a new two-way deposit function that allows borrowers to earn profits by selecting the direction of increase and decrease in the price of collateral. Therefore, the present invention provides a computing system and control method that allows a borrower to select a two-way deposit rate of collateral according to his or her investment inclination and obtain investment results accordingly.

2) The present invention can provide a new type of secured loan in which there is no forced liquidation to the borrower. This is because the present invention can provide this in a way that the loan includes only the new value fixing portion that is not present in the existing mortgage loan.

3) The present invention provides borrowers with a new means to reduce the risk of forced liquidation by adjusting the two-way deposit ratio. Since the volatility of the value of collateral decreases as the ratio of upward and downward deposits becomes similar, this method provides borrowers with a means to reduce the high price volatility of cryptocurrency.

Figure 5 shows an example of investment by two-way deposit between the borrower's wallet and the operator's wallet when lending according to the present invention.

The drawing shows that the borrower's wallet 21, each controlled by the borrower terminal 11, provides collateral, and the operator's wallets 22 and 23, each controlled by the computing system 12 according to the present invention, provide the collateral provided. It shows an example of the process of investing by two-way deposit.

Specifically, the drawing shows that the borrower terminal 11 provides a two-way deposit ratio (70:30) and 1 BTC as collateral and applies for a loan (S501), and then the borrower wallet 21 controlled by the borrower terminal 11 ) shows an example in which 1 BTC, which is collateral, is transferred to the operator wallet 22 under the control of the computing system 12, and then 0.3 BTC, which is part of the collateral, is invested in a downside deposit. In the figure, investment by two-way deposit deposits 0.7 BTC into the upward deposit and the remaining BTC into the downward deposit according to the two-way deposit ratio (70:30) of the collateral arrived at the operator's wallet 22 (S502). Specifically, the upward deposit is stored in the operator's wallet (22), and the downward deposit is transferred to the operator's exchange wallet (23) controlled by the operator, and then is an encryption linked to -1x of the underlying asset (BTC). Exchange it for a waste HEDGE token (S502), return it to the operator's wallet (22), and store it (S504). In the drawing, the number of exchanged HEDGEs is indicated by '?'.

As a result of S501 to S502 above, the final state of the operator's wallet (22) is '?' with 0.3 BTC. ‘HEDGE’ is stored.

Therefore, in the above figure, the leverage is 1, and therefore, the downside deposit uses a method of holding a 1x short product (HEDGE), which moves 1x opposite to the price of BTC, the underlying asset. In this regard, BEAR (-3x) and BULL (3x) tokens, which are cryptocurrencies that move 3x relative to the underlying asset (BTC), are currently being traded in the market. Therefore, according to the embodiment of FIG. 5, expanded application may also be possible by investing collateral in products with leverage. Since these tokens are similar to ETFs (Exchange Traded Funds) based on existing fiat currencies, these tokens can also be viewed as cryptocurrency ETFs with cryptocurrency as the underlying asset. Cryptocurrency tokens with these EFT characteristics are currently being traded sufficiently in the market. In addition, cryptocurrency tokens with this leverage function, in addition to Bitcoin (BTC), are also traded on exchanges linked to other cryptocurrencies such as Ethereum.

Unlike Figure 5, the operator's exchange wallet 23 according to the present invention may be a wallet that supports derivatives or margin trading under the control of the operator. In this case, two-way deposit according to the present invention can be performed by investing in futures products traded on the exchange. In this case, the collateral invested through the two-way deposit is stored in the operator's exchange wallet (23).

In particular, one embodiment of the present invention proposes that the borrower terminal 11 directly select investment items for upward or downward deposit. In other words, this means that the borrower terminal 11 can select the desired investment item directly from the exchange and apply it to the upward or downward deposit. To this end, the computing system 12 according to an embodiment of the present invention receives a collateral change request from the borrower terminal 11, and the collateral change request includes products (futures, etc.) or assets (others, etc.) traded on the exchange. It is proposed to include item identification information to identify cryptocurrencies, etc.

In this embodiment, a collateral change request refers to a request to change the received collateral to another product or asset in order to increase or decrease the deposit. In other words, the borrower selects the stock to be applied to the upward or downward deposit and requests a change in collateral to change the currently provided collateral to the selected stock.

To this end, in one embodiment of the present invention, the processing unit 12a receives a collateral change request from the borrower terminal 11, and the collateral change request includes item identification to identify the product or asset traded on the exchange. May contain information. At this time, item identification information is information for identifying the type of collateral that the borrower terminal 11 wishes to change, and may be, for example, the name of a product or asset traded on the relevant exchange. And the processing unit 12a can exchange some or all of the provided collateral for a product or asset corresponding to the item identification information at the exchange. And, the processing unit 12a may invest the exchanged product or asset in at least one of the upward deposit or the downward deposit.

As in the embodiment of FIG. 5, in one embodiment of the present invention, the upward deposit may include storing the collateral for the loan period.

In particular, in one embodiment of the present invention, it is further proposed that the borrower terminal 11 separately designate items to be designated as upward deposits and items to be designated as downward deposits, or specify a leverage ratio. This means that the investment as the upward deposit and the downward deposit can consist of two or more items. For example, the processing unit 12a invests in both Bitcoin and Ethereum in upward and downward deposits.

And investments as upward or downward deposits may be organized in the form of a basket (provided in the form of a list) to include more than one stock. Accordingly, the borrower terminal may select one or more investment items in the basket (list) and provide the computing system 12 to change the collateral to the selected investment item.

For this purpose, the collateral change request may include 1) product name information (and/or identification information) as an upward deposit and a downward deposit, and 2) leverage ratio information of the product. That is, the borrower terminal 11 can provide this information along with the two-way deposit rate to the computing system 12. Here, the product may be something traded on an exchange, such as a derivative, margin transaction, or ETF. For this purpose, the lender terminal 11 according to the present invention provides name information for each of the upward deposit product and the downward deposit product, that is, name information (identification information) of the collateral to be exchanged.

In accordance with the two-way deposit ratio and collateral change request provided by the borrower terminal 11, all or part of the collateral is exchanged for another cryptocurrency such as Ethereum (ETH), and the exchanged Ethereum is exchanged according to the two-way deposit ratio. You can invest in rising deposits or falling deposits. For example, when lending, when the borrower terminal 11 provides 1 BTC as collateral to the computing system 12, 0.7 BTC, which is 70% of the provided collateral, is invested as an upward deposit in a product that follows the leverage of 3 times and the remaining 0.3 BTC. All can invest in products that track -1 times Ethereum (ETH). In other words, rising and falling deposits can be invested in different items (different products or different leverage).

Figure 6 is a diagram illustrating a liquidation procedure according to an embodiment of the present invention.

The processing unit 12a according to an embodiment of the present invention receives, from the borrower terminal 11, a liquidation request with a condition of not returning part or all of the loan (S601), Process to recover the part of the collateral that meets the above conditions (S602, S603, S604). Then, the remaining collateral after subtracting the portion corresponding to the shipbuilding loan from the recovered collateral is settled and returned to the borrower terminal 11 (S605) to complete the liquidation.

For this purpose, the computing system 12 according to an embodiment of the present invention includes a communication unit 12c for connecting to a network for transmitting and receiving data with the borrower terminal 11 and the exchange 15 and storing data related to the loan. a storage unit (12b) for; And a processing unit (12a) that processes the loan payment in response to a loan request received from the borrower terminal (11), receives collateral from the borrower terminal (11), and processes the loan to the borrower terminal (11). To this end, when a liquidation request with a condition of not returning part or all of the loan is received from the borrower terminal 11, the processing unit 12a processes the portion of the collateral invested in the exchange that meets the condition. The liquidation can be completed by processing to recover the recovered collateral, subtracting the portion of the loan amount that satisfies the above conditions, and returning the remaining collateral to the borrower terminal 11.

Here, processing to recover the collateral refers to selling the collateral invested through two-way deposit on the exchange (S603) and receiving it back as recovery money (S604). Here, the recovery amount may be a stablecoin, cryptocurrency such as collateral, or fiat currency, depending on the purpose of recovery.

In a general secured loan, liquidation begins when the borrower terminal 11 returns all the loan amount to the operator computing system 12 and requests liquidation. It is obvious that the computing system 12 according to an embodiment of the present invention can also process liquidation using this existing method.

However, in addition to this existing method, an embodiment related to FIG. 5 proposes that the borrower terminal 11 request liquidation without returning the loan amount to the computing system 12. In other words, when this liquidation request is received from the borrower terminal 11 (S601), the computing system 12 sells all the invested collateral on the exchange (S603) to collect it and prepare the recovery amount, and subtracts the loan amount from this collection amount to obtain the remaining amount. The remaining recovery amount is returned to the borrower terminal 11 (S605). In other words, the borrower terminal 11 will be able to settle the loan by simply settling the loan without returning it.

The processing unit 12a according to an embodiment of the present invention pays the loan amount in a predetermined type of stable coin, and when forced liquidation occurs when a lack of value of the investment is expected from the down deposit and the up deposit, the forced liquidation occurs. The collateral forcibly recovered through liquidation can be stored in at least one of a different type of stablecoin from the loan or the fiat currency so that the issued stablecoin can continue to circulate in the market without being incinerated. In other words, when forced liquidation occurs, stablecoins subject to the forced liquidation are generally incinerated. However, the present invention exchanges the recovered collateral for another type of collateral and stores it so that the stablecoin corresponding to the forced liquidation is not burned even if forced liquidation occurs.

In addition, the computing system 12 according to another embodiment of the present invention includes a communication unit 12c for connecting to a network for transmitting and receiving data with the borrower terminal 11 and the exchange, and a storage unit for storing data related to the loan ( 12b); And a processing unit (12a) that processes the loan payment in response to a loan request received from the borrower terminal (11), receives collateral from the borrower terminal (11), and processes the loan to the borrower terminal (11). To this end, the processing unit 12a pays the loan amount in the first stable coin and, when forced liquidation occurs when a lack of value of the investment as the down deposit and the up deposit is expected, the collateral recovered by the forced liquidation The first stable coin of the loan is exchanged for storage with at least one of a second stable coin different from the fiat currency. This is to keep the total issuance amount of the first stablecoin constant.

In general, when forced liquidation occurs in a collateral loan that provides stablecoins as loan money, the computing system 12 sells the collateral on the exchange, purchases the corresponding number of stablecoins, and incinerates all of the purchased stablecoins. do. This is a method of recovering the loan amount through liquidation through forced liquidation. This existing method reduces the total number of stablecoins circulating in the market, causing collateralized loans to always maintain excess collateral. Therefore, this method is a method of reducing the total number of stablecoins distributed in the market by the amount of the reduced loan amount when the total loan amount is reduced by forced liquidation.

However, in addition to these existing methods, the computing system 12 according to an embodiment of the present invention exchanges the liquidation amount through forced liquidation, that is, the collateral recovered through forced liquidation, with at least one of a stable coin or a fiat currency different from the loan amount. It can be stored. Another type of stablecoin means that if the computing system 12 pays a type of stablecoin called ALFA as a loan, the collateral recovered through forced liquidation is exchanged for ALFA and a different type of stablecoin, such as Tether. . And the computing system 12 stores the tether as new collateral for the forcibly liquidated loan. In this way, there is no need to purchase new stablecoins circulating in the market and burn them. This is because the collateral recovered through forced liquidation is sold on the exchange (15) to purchase other types of stable coins or fiat currency and store them as new collateral. This has the advantage of ensuring that the total number of stablecoins provided as loans does not decrease even if forced liquidation occurs.

The other types of stablecoins mentioned above are pegged to the same fiat currency or asset as the loan. For example, in Figure 3, 1 ALFA is a stablecoin pegged to 1 US dollar. Therefore, as the other types of stablecoins mentioned above, coins pegged to the US dollar can use Tether, USDC, DAI, etc., and these are exchanged collateral. Therefore, the exchanged collateral does not change in value over time and has exactly the same value as the stablecoin provided as the loan.

The processing unit 12a according to an embodiment of the present invention receives the two-way deposit ratio again from the borrower terminal 11, and adjusts the ratio of the down deposit and the up deposit according to the two-way deposit ratio received again. By changing and investing, the two-way deposit rate can be changed again without liquidating the loan. This is to provide the borrower terminal 11 with a function to invest by changing the two-way deposit ratio of already invested collateral when the market situation changes and the borrower terminal 11 wants to adjust the two-way deposit ratio of the invested collateral. am.

The exchange 15 shown in FIGS. 3 to 6 is operated by a third-party operator and can only use the operator's exchange wallet 23, which can be controlled by the computing system 12. In contrast, the exchange 15 may be configured so that the computing system 12 controls and operates the entire system of the exchange.

The computing system 12 according to the present invention can pay out more loans than the existing secured loan system under the same forced liquidation conditions. This is an advantage that is not present in the existing mortgage loan system, but is due to the value fixed part, which is a newly included hedged part due to the two-way deposit function.

To understand this, let’s find out how the loan amount is determined. First, in the existing collateral loan system (Figure 1), the loan amount is determined by the LTV (collateral recognition ratio). If the LTV is 30% as shown in Figure 1, 30% of the value of the collateral at the time of loan is paid for the loan, so forced liquidation occurs when the price of the collateral falls to 70% of the value at the time of the loan. Therefore, in this system, both the loan amount and the point at which forced liquidation occurs are determined by LTV.

In contrast, in the computing system 12 according to the present invention, the loan amount is determined by the forced liquidation ratio rather than the LTV. However, the above forced liquidation ratio is defined as the ratio of the value of the collateral for which forced liquidation occurs to the value of the collateral at the time of loan. For example, if the forced liquidation ratio is 70% and the value of the collateral at the time of the loan is $10,000, forced liquidation occurs when the value of the collateral falls to $3,000 after the loan. Therefore, the forced liquidation ratio according to the present invention determines the amount of the loan and the point at which forced liquidation occurs. That is, the processing unit 12a of the computing system 12 determines the time of occurrence of forced liquidation caused by insufficient value of the collateral after the loan as the forced liquidation ratio, and the forced liquidation ratio is the forced liquidation for the value of the collateral at the time of the loan. It is the ratio of the value of the collateral at the time of occurrence.

And in the system according to the present invention, the LTV varies depending on the investment ratio even if the liquidation rate is the same as shown in Table 3. The loan amount can be determined in two different ways at the same liquidation rate. First, the existing method As a method used in existing collateral loans, the loan amount is determined by calculating the value of the entire collateral. For this reason, forced liquidation occurs on the entire collateral. The second separation method is to separate the collateral into a fixed value portion and a variable value portion. Due to this, the loan amount can be determined so that forced liquidation occurs only in the portion of the loan whose value fluctuates.

Table 3 shows the loan amount calculated using the existing method. However, in this table, the borrower terminal entrusts 1 BTC of Bitcoin as collateral, and the computing system 12, which is the operator, deposits this collateral in an upward and downward direction with respect to the spot price (or underlying asset price) of Bitcoin, respectively. Assume that you invest in a product with a (1x) long position and a (-1x) short position that exactly tracks 1x in the downside direction. Therefore, in this embodiment, the upside deposit keeps the collateral in the wallet. Also, we assume an ideal situation where the price of both the underlying asset and investment product when lending is $10,000, and there are no fees at all.

This method requires first selecting a liquidation rate to determine the loan amount. In this table, the forced liquidation rate is set at 70%. Next, calculate the value of the total collateral from the forced liquidation rate. This calculates the value of collateral at various two-way investment ratios when the price of the underlying asset changes ±70%, as shown in Table 3. In other words, the value of the loan is calculated at the price at which forced liquidation occurs. The loan becomes worth the collateral (indicated in italics in Table 3) when the market moves against the direction of the borrower's bet. This is because in a situation where the direction of the bet is wrong, the collateral is forced to be liquidated, but in the opposite case, the borrower makes a profit. Therefore, the betting direction refers to the investment ratio that includes more collateral among the two-way deposit ratios when lending. For example, in a (two-way) investment ratio of 70:30, the collateral is deposited upwards (70%) more than it is deposited downwards (30%), so the betting direction is upward deposits and liquidation occurs when the price of the underlying asset falls. do.

The big advantage that can be found in this table is that at the same forced liquidation ratio (70%), the loan amount increases significantly as the two-way deposit ratio approaches 50:50. In other words, as shown in Table 3, LTV increases from 30% to 100%. Also, in Table 3, the two-way deposit ratio (100:0), including only rising deposits, is an existing secured loan. Therefore, in the table, the existing mortgage loan includes only the upward deposit among the various two-way investment ratios of the new mortgage loan. And its LTV (30%) is the smallest among various two-way investment ratios.

Table 3 shows the loan amount calculated using the existing method when the forced liquidation rate is 70%. In this table, the reason why the loan amount is different under the same forced liquidation conditions, that is, the same forced liquidation ratio, is because it includes a new fixed value portion in which the value of the collateral does not change. Conventional mortgage loans cannot include this fixed-value portion. In conclusion, as the ratio of the value-fixed portion of the total collateral increases due to the two-way deposit ratio, the loan amount also increases proportionally. In summary, the advantage of the system 12 according to the present invention is that more loans can be paid out than existing mortgage loan systems by using the amount deposit function.

Table 4 shows the loan amount calculated by the separation method when the forced liquidation ratio is 70%. However, the calculation conditions in this table are the same as Table 3. This separation method calculates the collateral and loan by separating them into a stable portion and an unstable portion.

In this method, the loan amount is calculated from the collateral. In other words, the value-fixed portion of the loan is calculated from the same portion of the collateral. Since the value of the collateral does not fluctuate in this part, under ideal conditions the computing system can pay out the loan up to the maximum amount of the collateral value, and then no shortage of collateral occurs in this part. In Table 4, this portion of the loan paid out the maximum amount. For this reason, the LTV becomes 100% at the 50:50 two-way deposit ratio in the table.

The portion of the loan that fluctuates in value is determined by the forced liquidation rate. However, in Table 4, the forced liquidation rate was assumed to be 70%. If the value of the collateral decreases by 70% compared to the time of the loan due to these forced liquidation conditions, the portion of the change in value is forced to be liquidated. These characteristics are used to calculate the loan amount for this portion. In other words, when the price of the collateral reaches the forced liquidation rate, if this portion of the collateral still has value, the remaining portion becomes the loan amount. In other words, if the value of the variable portion of the collateral is negative, there is no loan for this portion. Let's apply this to Table 4. In this table, since the collateral is 1 BTC and the forced liquidation ratio is 70%, when the value of the collateral is reached when this ratio is reached, if the change in value of the collateral is greater than 0.7 BTC, this large part becomes a loan, and if it is less than this, there is no loan for this part at all. . For example, in the deposit ratio of 90:10 in Table 4, the change in value of collateral is 0.8 BTC, so 0.7 BTC is subtracted from this and 0.1 BTC becomes the loan amount for this portion. As another example, at a (two-way) deposit ratio of 70:30, the change in value of the collateral is 0.4 BTC, which is less than 0.7 BTC, so there is no loan amount for this portion. The total loan amount is calculated by adding the two parts together and then multiplying this by the price of the collateral at the time of loan.

The advantages of the computing system 12 shown in Table 4 are as follows. First, as shown in Table 1, the loan amount increases significantly as the two-way deposit ratio approaches 50:50. This is an advantage that arises because the value fixed portion is increased by the two-way deposit function. In summary, the advantage of this computing system (12), which can be seen through Tables 3 and 4, is that it can pay out more loans than the existing mortgage loan system. Another advantage is that in the two-way deposit ratio (80:20 to 20:80) indicated in italics in Table 4, the loan includes only the fixed-value portion. Therefore, in this case, there is no lack of collateral.

However, the loan amounts obtained through these two methods are different. In other words, the loan amount in Table 4 is smaller. The difference between them is shown in the last column of Table 4 and is maximum at two-way deposit ratios of 80:20 and 20:80. If the liquidation rate is very high, as shown in Table 4, at most two-way deposit rates, the loan will only contain a fixed value portion, but if the liquidation rate is low, and at more two-way deposit rates, the loan may contain a new variable value portion. . In this case, not only will the loan amount increase due to the lowered forced liquidation rate, but the loan amount will also increase due to the newly included value change portion. Of course, setting the forced liquidation rate at 70% is just an example.

Next, the two-way deposit function can be implemented in a decentralized way using leveraged tokens issued by ftx.com. These tokens are ERC-20 tokens issued on the Ethereum network and are a type of ETF product. Examples of these tokens include HEDGE (-1x), BULL (+3x), and BEAR (-3x), which are linked to the price of Bitcoin, the underlying asset, and HEDGE (-1x), ETHBULL(), which are linked to the price of Ethereum. +3x) and ETHBEAR(-3x). Therefore, these tokens can be used for two-way deposit functions. Applying this to the example in Figure 3 is as follows. First, when the borrower terminal transmits 1 BTC as collateral and a two-way deposit ratio (0.7:0.3), the operator's computing system stores 0.7 BTC in the operator's wallet 22 to deposit the collateral in both directions, and the remaining 0.3 BTC is After exchanging it for HEDGE on a cryptocurrency exchange, it is stored in the operator's wallet (22) to complete the investment of collateral. Therefore, this example invests in a product that tracks the collateral in both upward and downward directions at a ratio of exactly 1x. Conversely, during liquidation, HEDGE is exchanged for Bitcoin on the exchange and then the entire collateral is transferred to the borrower's terminal.

In this example, the collateral and the investment product are the same. In other words, if the collateral is Bitcoin, the two-way deposit function also uses Bitcoin. However, in the present invention, collateral and investment products may be different from each other. In other words, borrowers can select an investment product from a basket of various investment products. For example, if a borrower deposits Bitcoin as collateral and selects Bitcoin (30%) and Ethereum (70%) for upward and downward deposits, respectively, the operator can make the corresponding investment accordingly.

Above, an embodiment of a computing system capable of investing through two-way deposit of collateral according to the present invention and its control method has been described. However, this is explained as at least one embodiment, and thereby the technical idea of the present invention and its configuration and The operation is not limited, and the scope of the technical idea of the present invention is not limited/restricted by the drawings or the description referring to the drawings. In addition, the concept and embodiments of the invention presented in the present invention can be used by those skilled in the art as a basis for modifying or designing other structures to achieve the same purpose of the present invention. , Equivalent structures modified or changed by those skilled in the art to which the present invention pertains are bound to the technical scope of the present invention described in the claims, and do not depart from the spirit or scope of the invention described in the claims. Various changes, substitutions, and changes are possible within limits.

Claims (24)

In a computing system that allows investment through two-way deposit of collateral, where cryptocurrency is provided as collateral from a borrower terminal and the collateral is invested according to the two-way deposit ratio,
a communication unit for connecting to a network to transmit and receive information from the borrower terminal;
a storage unit for storing data; and
Including a processing unit that processes the two-way deposit of the collateral,
The processing unit,
Process to receive the collateral and the two-way deposit ratio, which is the ratio of down deposit and up deposit, from the borrower terminal,
Depending on the two-way deposit ratio, part or all of the provided collateral is processed to be invested in a specific cryptocurrency by the ratio of the down deposit, and the remaining ratio of the collateral is invested in the specific cryptocurrency or other cryptocurrency as the up deposit. Process it to do so,
The investment as the down deposit and the up deposit is a type of investment that generates profits when the price of the collateral falls and rises, respectively,
Characterized in that the two-way deposit rate is set by the borrower terminal,
A computing system that allows investment through two-way deposit of collateral.
delete According to claim 1,
The processing unit,
Processing the borrower terminal to pay the loan amount in fiat currency or cryptocurrency based on the value-fluctuating portion whose value fluctuates in response to price fluctuations of the collateral and the value-fixed portion whose value does not fluctuate,
The cryptocurrency paid as the loan is a stable coin newly issued based on the collateral.
A computing system that allows investment through two-way deposit of collateral.
According to claim 3,
The processing unit,
If forced liquidation occurs due to an expected lack of value in the investment due to the above down deposit and the above up deposit, the invested collateral is forcibly recovered,
The forcibly recovered collateral is exchanged and stored for at least one of a type of stablecoin different from the type of stablecoin paid as the loan or the fiat currency so that the issued stablecoin can continue to be circulated without incineration. Characterized by,
A computing system that allows investment through two-way deposit of collateral.
delete According to claim 3,
The loan includes at least one of the variable value portion and the fixed value portion,
Setting the collateral recognition ratio (LTV) of the fixed value portion higher than the collateral recognition ratio of the variable value portion,
Characterized in determining the amount of the loan by individually reflecting the collateral recognition ratio corresponding to the value variable portion and the value fixed portion,
A computing system that allows investment through two-way deposit of collateral.
delete According to claim 6,
The processing unit,
If it is expected that the value of the portion of the loan that fluctuates in value is expected to be insufficient, the portion of the loan that fluctuates in value is subject to compulsory liquidation;
Even if forced liquidation occurs in the value variable portion, if the value fixed portion exists, the loan of the value fixed portion is processed to continue to be maintained,
A computing system that allows investment through two-way deposit of collateral.
delete According to claim 3,
The processing unit,
When a liquidation request is received from the borrower terminal, check whether all of the loan amount has been recovered,
If it is confirmed that it has been recovered, the invested collateral is processed to be recovered according to the two-way deposit ratio,
Characterized in that the liquidation is completed by returning the recovered collateral to the borrower terminal.
A computing system that allows investment through two-way deposit of collateral.
According to claim 1,
The processing unit,
Receiving a collateral change request from the borrower terminal,
The collateral change request includes cryptocurrency item identification information to identify the cryptocurrency,
Exchange some or all of the provided collateral for cryptocurrency corresponding to the item identification information,
Characterized in that processing the exchanged cryptocurrency to invest in at least one of the upward deposit or the downward deposit,
A computing system that allows investment through two-way deposit of collateral.
According to claim 3,
The processing unit,
When a liquidation request is received from the borrower terminal with the condition of not returning part or all of the loan, processing to recover the portion of the collateral invested in the exchange that meets the condition,
Characterized in that the portion of the loan that meets the above conditions is subtracted from the recovered collateral and the remaining collateral is returned to the borrower terminal to complete the liquidation.
A computing system that allows investment through two-way deposit of collateral.
According to claim 3,
So that the processing unit can change the two-way deposit rate again without liquidating the loan,
When receiving a change request for the two-way deposit ratio from the borrower terminal, the ratio of the downward deposit and the upward deposit is changed and invested according to the two-way deposit ratio transmitted with the change request,
A computing system that allows investment through two-way deposit of collateral.
delete delete In the control method of a computing system that allows investment through two-way deposit of collateral, where cryptocurrency is provided as collateral from a borrower terminal and the collateral is invested according to the two-way deposit ratio
Processing to receive the collateral and the two-way deposit ratio, which is the ratio of down deposit and up deposit, from the borrower terminal;
According to the two-way deposit ratio, part or all of the provided collateral is processed to be invested in a specific cryptocurrency by the ratio of the down deposit, and the remaining ratio of the provided collateral is invested into the specific cryptocurrency or other cryptocurrency as the up deposit. Including steps to process the investment,
The investment as the down deposit and the up deposit is a type of investment that generates profits when the price of the collateral falls and rises, respectively,
Characterized in that the two-way deposit rate is set by the borrower terminal,
A control method for a computing system that allows investment through two-way deposit of collateral.
delete According to claim 16,
Including a step of processing the loan to be paid to the borrower terminal based on a value-fluctuating portion whose value fluctuates in response to price fluctuations of the collateral and a value-fixed portion whose value does not fluctuate,
Process the loan amount to be paid in fiat currency or cryptocurrency,
The cryptocurrency paid as the loan is a stable coin newly issued based on the collateral.
A control method for a computing system that allows investment through two-way deposit of collateral. delete delete delete delete delete delete