WO2021145572A1 - Computing system capable of investment via bidirectional deposit of collateral and control method therefor - Google Patents

Abstract

The present invention relates to a loan system based on collateral. In particular, the present invention relates to a computing system capable of investment via a bidirectional deposit of collateral, the computing system processing a loan to a borrower terminal by receiving the collateral from the borrower terminal and comprising: a communication unit for connecting to a network for transmitting/receiving data to/from the borrower terminal and an exchange; a storage unit for storing data related to the loan; and a processing unit for processing a loan amount to be provided in response to a loan request received from the borrower terminal, wherein the processing unit processes the collateral to be received from the borrower terminal, processes some or all of the received collateral to be invested as a dropping deposit, and processes the remainder of the collateral to be invested as a rising deposit, wherein investments such as the dropping deposit and the rising deposit are the types of investments in which profit occurs when the price of the collateral decreases and increases, respectively, and a bidirectional deposit ratio that is a ratio of the dropping deposit to the rising deposit is set by the borrower terminal.

Description

Computing system capable of investing through two-way deposit of collateral and its control method

The present invention relates to a system for making a loan using collateral as collateral, and more particularly, depositing collateral in an investment form that generates a profit when the value of collateral increases and/or decreases, and a loan corresponding to the deposited collateral It relates to a system that implements and a method for controlling the same.

As an online payment method, the importance of cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) is steadily increasing. Online payment (or payment) is rapidly increasing in use with the generalization of the Internet and smartphones and the advent of simple payment. This is because cryptocurrency has very good advantages that traditional payment methods do not have, such as not only being able to use borderless, but also allowing parties to trade instantly without a middleman. Therefore, blockchain technology can bring the world together by providing people around the world with easy financial services such as online transfers and instant payments.

However, one of the biggest obstacles encountered in using cryptocurrency in real life is that price volatility is very large. 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 highly likely to give an economic disadvantage to one party to the contract. For this reason, stablecoins, which peg prices to the US dollar as a legal currency or gold as a commodity, are sometimes considered as the holy grail of crypto. Since these stablecoins have a fixed price, they can be easily used to purchase services or goods, and have the advantage of being used as a hedge against market volatility. In other words, these are cryptocurrencies with the purpose of maximizing usability by stabilizing the price, and several types of stablecoins that have already implemented the price fixing function are already being traded in the market. Specifically, they can be classified into fiat-collateralized, non-collateralized, and crypto-collateralized according to the type of collateral.

The existing secured loan is a method in which the borrower deposits collateral (or underlying assets) whose price fluctuates with respect to the loan amount to the collateral loan operator, bundles them, and pays the loan amount. Therefore, the basic principle of this is to freeze the collateral as a kind of security deposit and return it to the borrower after the contract is terminated. Therefore, typical existing collateral is characterized by being limited to assets traded in the spot market, such as stocks and real estate.

Existing cryptocurrency collateral loans have the same principle as existing general collateral loans, but only use cryptocurrency as collateral. It can be classified into two types. The first is to pay the loan in another cryptocurrency that already exists, such as compound (https://compound.finance), which is the same loan method as the existing secured loan. For example, this is a method in which the borrower deposits Bitcoin as collateral and pays the loan in Tether, which is already in circulation. The second, like MakerDao (https://makerdao.com), is a method of issuing and paying a new stablecoin, DAI, as a loan. It is a new loan method completely different from the existing secured loan, which MakerDao provided for the first time. This method has the advantage of being able to obtain various new business opportunities using the stablecoin, since the operator uses the stablecoin issued by the operator as a loan.

1 shows the loan process of DAI, which is an existing cryptocurrency secured 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 the borrower DAI, a stablecoin, as the loan amount. In addition to these, there are more clearing houses for forced liquidation, but the basic loan structure of DAI is shown in Figure 1. This is a method in which the borrower provides Ethereum (ETH) as collateral to the CDP, the CDP binds it to the network, and the corresponding loan is issued by a new stablecoin, DAI, and paid. Therefore, DAI classifies it as a crypto-collateralized stablecoin.

The biggest feature of these secured loans is that in order to maintain the value of DAI, the borrower provides the loan after freezing the collateral in the CDP. What this means is that in conventional secured loans, the loan, like all existing secured loans, is at the disposal of the operator and its value is guaranteed by collateral that is locked with excess collateral. Here, CDP is a smart contract of Ethereum, an automation program that operates on a cryptocurrency network.

In other words, in order to maintain the value of DAI, these crypto-secured loans provide DAI as a loan through a deposit (or lock-up) function that binds collateral to the CDP. This deposit function is essential because it is the last means for the operator to collect the loan by forcibly disposing of the collateral. For this reason, all secured loans must include automatic liquidation to forcibly collect the loan if the value of the collateral decreases. In the case of DAI, the liquidation money recovered from forced liquidation is deposited in the network and continues to be used as collateral for the corresponding DAI. In other words, the forcibly liquidated DAI is not incinerated and continues to circulate in the market. Besides this, there is a normal 'liquidation' by the borrower. This is how the borrower returns all of the loan and ends the loan gracefully. In the case of DAI, all DAI returned in this way is incinerated. Because of this, all other DAI in circulation is always held in value by over-collateralized collateral.

However, in the event of forced liquidation, the borrower will not be able to gain any profit from the re-increase in the price of the collateral in the future, as well as the loss caused by the falling price of the collateral. For this reason, in all secured loans, the higher the price volatility of the collateral, the higher the over-collateralization is required from the borrower. For this reason, the collateral of all secured loans has no choice but to prefer the less volatile assets. This is because, with the same excess collateral, the higher the price volatility of the collateral, the higher the risk of forced liquidation. As a result, in all secured loans, the collateral has no choice but to prefer assets with low price volatility.

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 from $ 1,883 on July 17, 2017 to $ 19,896 on December 17, 2017, about 5 months later, about 10.5 times higher. And about 10 months later, on October 16, 2018, it dropped about 84% to $3,228. Not only that, but about 8 months later, on June 27, 2019, it again rose 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 secured loans. In other words, cryptocurrencies as collateral have a much higher risk of being forced into liquidation than conventional collateral, which raises the problem of requiring more excess collateral. As a result, the average loan-to-value ratio (LTV) of existing cryptocurrency-backed loans is about 30%, which is very low compared to existing collateral. 1 is an example of paying DAI of $30 as a loan when a borrower provides $100 of Ethereum as collateral. So its LTV is 30%. For reference, the loan amount in a secured loan is calculated by multiplying the value of the collateral at the time of the loan by the LTV.

* In all secured loans currently providing services, including cryptocurrency secured loans, the operator operates with the concept of storing the collateral entrusted by the borrower. In other words, in the existing secured 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 liquidated. Exceptionally, the concept of storage means that when the value of collateral falls, additional collateral is requested or the loan is recovered by forcibly liquidating it.

However, in all existing secured loans, the collateral causes a fatal problem in that the value of the collateral increases only when the price rises. This means that in conventional secured loans, the borrower always takes out the loan with a bet on the price of the collateral to rise. Therefore, the value of the collateral of the existing secured loan increases only when the price rises, that is, only when it moves in one direction. Let's call this 'one-way deposit method of collateral'. In other words, in the existing secured loan, all collateral has a one-way profit structure that bets on upside profit.

Existing cryptocurrency collateral loans such as DAI use the same one-way deposit method in which CDPs simply store Ethereum. In conclusion, in all existing secured loans, the collateral always uses the one-way deposit method. However, due to this, all existing secured loans have serious disadvantages that limit borrowers' options.

Therefore, there is a need for research on a computing system that can bet on a falling profit as well as a rising profit of the collateral.

SUMMARY OF THE INVENTION The present invention aims to solve the above and other problems. Another object is to provide a secured loan system that enables two-way deposit of collateral according to the borrower's choice.

An object 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 upon liquidation.

An object of the present invention is to provide a secured loan including a two-way deposit method that can obtain a profit even when the price of the collateral falls.

An object of the present invention is to provide a secured loan system including a fixed value part of the loan amount.

An object of the present invention is to provide a secured loan system in which there is no compulsory liquidation for this part by determining the amount of the loan by applying the collateral recognition ratio of the fixed value part of the loan to 100% or less.

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

An object of the present invention is to provide a secured loan system including a value fixed portion capable of receiving 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 of ordinary skill in the art to which the present invention belongs from the following description. will be able

According to one aspect of the present invention in order to achieve the above or other objects, in a computing system that receives a 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 communication unit for a storage unit for storing data related to the loan; and a processing unit for processing to pay a loan in response to a loan request received from the borrower terminal, wherein the processing unit processes to receive the collateral from the borrower terminal, and partially or all of the provided collateral as a lower deposit processing to invest, and processing the remainder of the collateral to invest as a rising deposit, wherein the falling deposit and the upward deposit are a kind of investment in which a profit is generated when the price of the collateral falls and rises, respectively, and the It provides a computing system capable of investment through the two-way deposit of collateral, characterized in that the two-way deposit ratio, which is the ratio of the falling deposit and the upward deposit, is set by the borrower terminal.

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

It may be processed so that the requested leverage is applied to the investment as the upward deposit and the downward deposit.

The processing unit may process the loan to be paid in legal currency or cryptocurrency, and the cryptocurrency to be 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 part in which the value fluctuates with respect to a price change of the collateral and a fixed-value part in which the value does not change.

The processing unit sets the security recognition ratio (LTV) of the fixed value part to be higher than the security recognition ratio of the value change part, and sets the value change part and the security recognition ratio corresponding to the value fixed part separately It can be reflected to determine the amount of the loan.

The processing unit,

The amount of the loan may be determined by setting the security 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.

The processing unit processes the forced liquidation of the value variable part when the value of the variable value part of the loan is expected to be insufficient, and the value is fixed when the value fixed part exists even if the value change part is forced to liquidate Partial loans can be processed to be maintained.

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

When the liquidation request is received from the borrower terminal, the processing unit checks whether all of the loan has been recovered, and when it is confirmed that the loan has been recovered, the processing unit recovers the collateral invested in the exchange, and collects the recovered collateral. The liquidation may be completed by returning it to the borrower terminal.

According to another aspect of the present invention to achieve the above or other object, in the control method of a computing system that receives a collateral from a borrower terminal and processes a loan to the borrower terminal, processing to receive the collateral from the borrower terminal step; processing to pay a loan amount in response to a loan request received from the borrower terminal; and processing part 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 a rising deposit, wherein the down-deposit and the investment as the up-deposit are the price of the collateral. This is a type of investment that generates a profit when it rises and falls, respectively, and the two-way deposit ratio, which is the ratio of the lower deposit and the higher deposit, is set by the borrower terminal, characterized in that the investment through the two-way deposit of collateral A method for controlling a possible computing system is provided.

The effect of the computing system capable of bidirectional 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, there is an advantage that a borrower who wants to receive a loan by providing collateral can bet both on the rise and fall of his/her collateral.

The present invention has the advantage of providing a secured loan including a two-way deposit method that can obtain a profit even when the price of the collateral falls.

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

The present invention has the advantage of providing a secured loan in which there is no compulsory liquidation for this part by determining the amount of the loan by applying the security recognition ratio of the fixed value part of the loan to 100% or less.

1 shows the loan process of MakerDao's DAI stablecoin, an existing cryptocurrency collateralized loan.

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

3 and 4 are diagrams illustrating an embodiment of a method for a cryptocurrency secured loan using a two-way deposit of collateral according to the present invention.

Hereinafter, the embodiments disclosed in the present specification will be described in detail with reference to the accompanying drawings, but the same or similar components are assigned the same reference numerals regardless of reference numerals, and overlapping descriptions thereof will be omitted. The suffixes "module" and "part" for the components used in the following description are given or mixed in consideration of only the ease of writing the specification, and do not have a meaning or role distinct from each other by themselves. In addition, in describing the embodiments disclosed in the present specification, if it is determined that detailed descriptions of related known technologies may obscure the gist of the embodiments disclosed in the present specification, the detailed description thereof will be omitted. In addition, the accompanying drawings are only for easy understanding of the embodiments disclosed in the present specification, and the technical spirit disclosed herein is not limited by the accompanying drawings, and all changes included in the spirit and scope of the present invention , should be understood to include equivalents or substitutes.

Terms including an ordinal number, such as first, second, etc., may be used to describe various elements, but the elements 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 referred to as being “connected” or “connected” to another component, it is understood that the other component may be directly connected or connected to the other component, but other components may exist in between. it should be On the other hand, when it is mentioned that a certain element is "directly connected" or "directly connected" to another element, it should be understood that the other element does not exist in between.

The singular expression includes the plural expression unless the context clearly dictates otherwise.

In the present application, terms such as "comprises" or "have" are intended to designate that a feature, number, step, operation, component, part, or combination thereof described in the specification exists, but one or more other features It should be understood that this does not preclude the existence or addition of numbers, steps, operations, components, parts, or combinations thereof.

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 a cryptocurrency network 13 and/or a general network 13 ) to transmit and receive data.

Computing system 12 according to an embodiment of the present invention, the communication unit 12c for connecting to the network 13 for transmitting and receiving data with the borrower terminal 11 and the exchange 15, data related to the loan It may include a storage unit (12b) for storing, and a processing unit (12a) for processing a loan payment 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 to receive the collateral from the borrower terminal 11 . In this case, 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) may receive the collateral. That is, some or all of the collateral can be stored by the processing unit 12a, and some or all of the collateral can be transferred to the exchange 15 and the condition set by the processing unit, that is, the borrower terminal 11 set You may be provided to directly invest in investment products under the condition of the two-way deposit ratio.

The computing system 12 according to an embodiment of the present invention may be configured with a blockchain technology that issues and operates cryptocurrency. In other words, in the case of blockchain technology, a large number of decentralized nodes add and store transaction data in the blockchain, which is the ledger. In addition, in the case of the exchange, a decentralized exchange operated in a block chain 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 legal currency-based secured 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 a server.

The processing unit 12a may process some or all of the provided collateral to be invested as a down-deposit, and the remainder of the collateral may be processed to be invested as an up-dated deposit. The investment as the downward deposit and the upward deposit means a type of investment in which a profit is generated when the price of the collateral falls and rises, respectively.

In particular, in one embodiment of the present invention, it is proposed that the bidirectional deposit ratio, which is the ratio of the falling deposit and the rising deposit, is set by the borrower terminal.

Hereinafter, the rising deposit and the falling deposit will be described in more detail.

The bidirectional depositing method of collateral according to an embodiment of the present invention proposes a collateral loan method in which an operator invests in an investment product in which the value of collateral increases when the price of collateral rises or falls according to a ratio selected by a borrower. In other words, the loan system according to an embodiment of the present invention invests a corresponding collateral in a two-way investment product according to a ratio selected by a borrower, and is a new collateral management system in which an investment concept is newly added 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 'upward deposit', and on the contrary, investing so that the value increases when the price of the collateral falls is called 'downward deposit'.

For example, in one embodiment of the present invention, you can use a cryptocurrency exchange that provides arbitrary products such as margin trading and derivatives trading so that you can make a profit from 'rising deposit' and 'downward deposit' of collateral prices. Of course, the upward deposit and the downward deposit refer to any investment or investment product having any form and arbitrary investment structure in which the value of the corresponding collateral increases with respect to the increase and decrease in the price of the collateral, respectively. Accordingly, the two-way deposit may mean any product that can be invested in both directions. In general, when using a derivative product, the up-and-down deposit is a method of investing collateral in long and short positions, respectively. say that

Table 1 below is an example showing the change in the value of collateral when the price of Bitcoin (or the price of the underlying asset) changes by ±50% after the borrower deposits 1 BTC of Bitcoin as collateral in both directions. In the table, the upward and downward deposits assume an ideal situation where you invest in products denominated in BTC and inverse BTC, respectively, and there are no transaction fees. It is also assumed that the price of the underlying asset and these two products at the time of loan is $10,000, and the price of the underlying asset rises ±50% after lending, so that the price of the underlying asset is $15,000 and $5,000, respectively, to liquidate the loan. And it is assumed that these two products accurately follow in both directions at a ratio of 1x the price of the underlying asset without leverage. Here, the two-way deposit ratio refers to the ratio of the rising deposit and the falling deposit selected by the borrower at the time of lending, and for example, the (two-way) deposit ratio of 90:10 in the table is 90% and 10% for the rising and falling deposits, respectively. means the case. And in the example of Table 1, the underlying asset is the spot Bitcoin.

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

In Table 1 above, the (both directions) deposit ratios of '100:0' and '0:100' are cases in which the collateral is fully invested in the upward deposit and the downward deposit, respectively. And the deposit ratio of '70:30' is when the collateral is invested in the up and down deposits at 70% and 30%, respectively. In this case, if the underlying asset, the Bitcoin spot, is liquidated when the price rises by 50%, the borrower will receive 0.8 BTC back as shown in Table 1 and lose 0.2 BTC, but the return in 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 a rising deposit. Here, this LTV (30%) is the average value of a cryptocurrency secured loan, and this is just one example.

Hereinafter, a method for determining the loan amount will be described in detail.

The loan amount is calculated by multiplying the value of the collateral at the time of the loan by the LTV. In the system of the present invention including a two-way deposit method, the LTV of the loan can be divided into two parts. In other words, there are parts that do not change the value of collateral and loans with time after the loan and parts that change.

In the present invention, the part whose value fluctuates according to the price change of the collateral after the loan is defined as the 'value change part', and the part where the value of the loan does not change even if the price of the collateral changes and the fixed part is the 'value 'fixed part'. The loan money according to an embodiment of the present invention may be made to include at least one of a value-variable part whose value fluctuates with respect to a price change of the collateral and a value-fixed part whose value does not change. For reference, all existing secured loans are part of the change in value.

In particular, in one embodiment of the present invention, it is proposed to set different LTVs for the fixed value portion and the variable value portion of the loan. That is, the security recognition ratio (LTV) of the fixed value portion may be set higher than the security recognition ratio of the value change portion. In this embodiment, as shown in Table 1, the amount of the loan may be determined by individually reflecting the collateral recognition ratio of the value change part and the value fixed part.

This is because, in the value-variable part, a high LTV cannot be recognized because the value literally changes with time after lending, but a high LTV can be recognized because the value of the fixed value part does not change at all. . That is, the amount of the loan may be determined by setting the security recognition ratio of the value fixed portion to 100% or less so that forced liquidation does not occur due to lack of collateral for the value fixed portion.

For example, in Table 1, the LTVs for the fixed value part and the variable value part of the loan were set at 95% and 30%, respectively. For this reason, in the case of '50:50' and the (two-way deposit) deposit ratio of '100:0' in the table, the LTV becomes 95% and 30%, respectively. As shown in Table 1, in the case of the deposit ratio of '30:70' for collateral, 30% of each of the up and down deposits, and therefore the total of 60%, are completely hedged in opposite directions, so the loan amount and The collateral maintains the same value as at the time of the loan regardless of changes in the price of the underlying asset after the loan. However, the value of the loan and collateral of the remaining 40% of the change in value changes according to the change in the price of the underlying asset. In this case, the variable value and the fixed value of the collateral during the loan are $4,000 and $6,000, respectively, as shown in the table. Table 1 shows the variable value and the fixed value of collateral and loans.

The reason for dividing the loan into two parts in the present invention is that the risk of loss of these two parts is completely different with respect to the price change of the underlying asset after the loan. For this reason, in the table, the collateral recognition ratio of the fixed value part of the loan was set at 95%, but the LTV of the value change part in the deposit ratios of both extremes (100:0, 0:100) was set at 30%. As such, there is a big difference in the LTV of these two parts of the loan. For this reason, in a 50:50 deposit ratio, since every part of the loan is the fixed value part ($10,000), the loan amount is calculated by multiplying this part by the LTV (95%) at the time of the loan. Therefore, the LTV becomes 95% as shown in the table. As another example, in both extremes of the deposit ratio (100:0, 0:100), the loan is a value change part ($10,000), so the loan is calculated by multiplying this part by the LTV (30%). So at a deposit ratio of 100:0, the LTV is 30%. In other cases, the loan in the table may contain only the fixed-value portion or both. For example, at a deposit ratio of 90:10, the loan includes both a variable-value portion ($1,333) and a fixed-value portion ($1,900). Here, the loan amount of the fixed value part is calculated by multiplying the fixed value part ($2,000) of the collateral by the LTV (95%). And as shown in Table 2 below, the loan amount of the variable value part ($1,333) is calculated based on the liquidation price. In the value change part ($8,000) of the collateral, if the underlying asset falls to the liquidation price, it is liquidated in the value change part ($8,000) We subtracted $6,400 and divided the liquidation rate by this to determine $1,333. Therefore, in this case, the LTV of the secured 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%) to get $5,700.

The processing unit 12a of the computing system 12 according to an embodiment of the present invention, when the value of the value change portion of the loan is expected to be insufficient due to the increase or decrease in the collateral value of the collateral, compulsory liquidation for this portion will be able to handle

In another embodiment of the present invention, the computing system 12 maintains a constant value of the fixed value portion of the loan when the price of the collateral changes so that forced liquidation does not occur in the fixed value portion due to the price change of the collateral. It may be set to automatically change the ratio of the up-deposit and the down-deposit corresponding to the value fixed portion so as to be maintained. That is, 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 values.

Or, in another embodiment of the present invention, including only the fixed value portion may determine the amount of the loan. That is, it can be set not to include the loan amount for the value change part in a specific two-way deposit ratio. According to this embodiment, there is an advantage that there is no forced liquidation due to lack of value of collateral.

The characteristics of the bidirectional deposit method shown in Table 1 are summarized below.

Even if the price of collateral falls, borrowers can benefit from a higher drop-out ratio. This is a new deposit method according to the present invention that is not in the existing secured loans.

Lenders can adjust the bidirectional deposit ratio to include a fixed portion of value not found in traditional mortgages. Since this portion of the loan does not fluctuate in value, it can provide a very high LTV.

The higher the percentage of the fixed value part, the higher the LTV will be, so the loan will increase accordingly. Due to this, the closer the two-way deposit ratio approaches 50%, the smaller the difference in the profit/loss ratio of dollars depending on the betting direction.

The higher the drop deposit ratio, the greater the difference in Bitcoin's profit/loss ratio according to the betting direction of the collateral.

The two-way deposit method according to an embodiment of the present invention may invest in any product such as margin trading or derivatives or cryptocurrency ETFs or securities or funds in an exchange in order to invest in collateral in both directions. And the exchange according to the present invention may be an exchange that trades cryptocurrencies or fiat-based assets. If the loan is cryptocurrency, the operator can use a centralized exchange at the beginning of the business, but if conditions are met, it will use a decentralized exchange (DEX). Therefore, as an embodiment of the present invention, an investment in an investment product for depositing the amount of collateral can be made using a decentralized exchange (DEX). In this case, anyone can transparently check the status of the collateral on the block chain. On the other hand, if the loan is in fiat currency, the exchange may be a fiat currency-based centralized exchange that trades derivatives such as stocks or commodities, etc. For example, in the present invention, the borrower uses Samsung Electronics stocks in-kind as collateral. As another example, in the case of foreign exchange transactions, the borrower deposits Korean won as collateral, and the borrower deposits Korean currency as collateral, and provides a secured loan by investing in the corresponding futures product according to the two-way deposit ratio selected by the borrower. A secured loan can be configured to borrow dollars.

Currently, there are many centralized exchanges that can make two-way deposits among cryptocurrency exchanges. In December 2017, the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) started 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 using Bitcoin as an underlying asset, and currently provides sufficient trading volume. However, the current trading volume of DEX, which trades cryptocurrency derivatives, is very low. 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 secured loans, all loans are part of the change in value. For this reason, if the value of collateral falls, the loan may be forcibly terminated by forced liquidation to forcibly collect the loan amount. In the aforementioned DAI, the liquidation price is determined by the liquidation rate. For example, since the liquidation rate of DAI is 150%, forced liquidation occurs when the value of collateral arrives at 150% of the loan amount. In this case, if the LTV of the loan is 30%, a 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, although forced liquidation occurs for the loan amount of the variable value portion, the loan amount of the fixed value portion may be determined so that forced liquidation does not occur. In the case of the examples in Tables 1 and 2, the loan amount, that is, the LTV, is determined so that forced liquidation does not occur in the fixed value part. For example, in Tables 1 and 2, since the LTV of the fixed value part is 95%, even if the collateral price changes after the loan, insolvency (default) for this part does not occur at all. Under these conditions, if only the fixed value part of the loan is included, it is advantageous to implement a secured loan without forced liquidation. This is a very good advantage of the secured loan according to the present invention that the existing secured loan does 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), multiplied by the corresponding LTV (95%), to be $5,700. Therefore, in this case, there is no forced liquidation in the secured loan according to the present invention, and the LTV is 57%, which is higher than the LTV (30%) of the existing cryptocurrency secured loan. In contrast, in Table 1, at a deposit ratio of 90:10, the loan includes both a variable value portion ($1,333) and a fixed value portion ($1,900). In this case, the variable value portion and the fixed value portion of the collateral were $8,000 and $2,000, respectively. Therefore, in this case, there may be a forced liquidation of the value change part.

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

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

Although this method is only one embodiment, it provides a great advantage that the borrower can easily predict the timing of the forced liquidation. This liquidation price is specifically the price at which forced liquidation occurs at both extremes of the two-way deposit ratio (100:0, 0:100). This is calculated by multiplying the value of the collateral ($10,000) by the LTV (30%) and the liquidation rate (120%) at the deposit rates at both extremes of the loan. Of course, since the LTV (30%) in this case is just one example, the borrower may take on a higher risk of forced liquidation and get a higher loan than this.

The most important feature of the computing system according to the present invention is that, unlike the existing loan service, the borrower can select the bidirectional deposit ratio so that the fixed value part is included in the loan amount. In this case, the loan amount can be determined in two ways.

The first is, if possible, a way to include a value change portion of the loan in the loan amount. The examples in Tables 1 and 2 used this method. However, in this case, forced liquidation will inevitably occur from the loan amount in the portion of the change in value. However, the loan amount of the fixed value part is different. If the LTV of the loan is determined as shown in Tables 1 and 2, the loan of the fixed value portion can continue to provide loan services regardless of forced liquidation. For example, if the price of the underlying asset falls from $10,000 to $3,600 at the deposit ratio of 90:10 in Table 2, forced liquidation occurs. In this case, as shown in Table 2, if the value of the value change portion during the loan decreases from $8,000 to $1,600, forced liquidation occurs. However, even if such 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, the loan includes only one of these two parts. As an embodiment, in the deposit ratios of both extremes, the loan may include only the value-variable portion, and the loan in other cases may include only the fixed-value portion. To this end, the computing system can be configured such that the bidirectional deposit ratio selected by the borrower is also set only at an interval of 10%. In this case, compulsory liquidation occurs only at the deposit ratios of both extremes, and there is an advantage that forced liquidation does not occur at all 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 deposit ratios of both extremes. However, this method has the disadvantage of reducing the loan amount compared to the first method. For example, in Table 1, at a deposit ratio of 90:10, only the fixed value portion ($1,900) of the loan is paid, and the other portion of the loan ($1,333) shown in Table 1 is not paid, so the LTV is reduced to 19%. However, this disadvantage only occurs when the two-way deposit ratio is largely concentrated in one direction, as shown in Table 1.

Next, let's find out why the loan amount for the value change part in the 90:10 deposit ratio in Table 1 is $1,333. The change-of-value portion of the loan occurs when the underlying asset reaches its liquidation price ($3,600) at $10,000 at the time of the loan. Similarly, compulsory liquidation occurs when the value of the variable value of collateral during a loan ($8,000) falls to $6,400, which is the same fluctuation range (64%) that compulsory liquidation occurs. Therefore, as shown in Table 2, when the value of the collateral is reduced to $1,600, a forced liquidation occurs, and the loan amount is calculated by dividing this by the liquidation ratio (120%). As such, the loan amount of the variable value part can be calculated only by first determining when the forced liquidation will occur.

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

Hereinafter, let's find out in detail the cryptocurrency-secured loan using the two-way deposit method according to the present invention through the issuance and liquidation process of ALFA. Here, ALFA, like DAI, is a stablecoin that is provided with collateral from the borrower in the secured loan according to the present invention and is newly issued and paid as the loan.

3 and 4 are diagrams illustrating an embodiment of a control method of a cryptocurrency secured loan using a two-way deposit of collateral according to the present invention.

According to the illustrated embodiment, the borrower terminal 11 that entrusts Bitcoin (BTC) as collateral and receives ALFA as a loan, the computing system 12 (operator) that pays the loan, and the borrower's deposit of the Bitcoin bidirectionally It consists of an exchange 15 that can trade derivatives such as futures for investment. Accordingly, this is to add a two-way deposit function by newly including an exchange for two-way depositing of collateral in the structure of the existing general secured loan of FIG. 1 .

Referring to FIG. 3 , in the method of controlling the secured loan according to the present invention, the borrower terminal 11 selects the ratio of the rising deposit and the falling deposit (70:30 in the illustrated example) and applies for a loan by transferring Bitcoin (S301) ) to start That is, the borrower selects to invest $7,000 and $3,000 in the rising and falling deposits, respectively, and transmits them to the operator (the computing system 12). That is, the bidirectional deposit ratio, which is the ratio of the falling deposit and the rising deposit, is set by the borrower terminal.

In the example shown, the operator (computing system 12) stores $7,000 of Bitcoin as an upward deposit (S302, upward deposit) at the exchange, and the remaining $3,000 Bitcoin moves to the exchange for a downward deposit (S303). Invest in relevant derivatives. However, in the case of FIG. 3, it is shown that after all collateral ($10,000) is provided to the operator 12, they are transmitted to the exchange. However, it is self-evident that the collateral may move directly from the borrower 11 to the exchange 15 otherwise. In addition, the rising deposit ($7,000) may be deposited in the operator 12 instead of the exchange if there is no leverage unlike the illustrated example.

Next, the operator (the computing system 12) newly issues 5,700 ALFAs corresponding to $5,700 as a loan (S304) and pays the borrower (S305), and the issuance process ends. Therefore, in the drawing shown, the LTV in the loan is 57%. And ALFA is a stablecoin whose value is fixed at one dollar. 3 and 4 correspond to the example of 70:30 in Table 1.

In step S305, the processing unit 12a may process the loan to be paid in fiat currency or cryptocurrency. As in the example shown in FIG. 3 , when paid in cryptocurrency, it may be a stablecoin newly issued based on the collateral. Alternatively, the cryptocurrency may be a cryptocurrency such as Tether already issued by a third party.

As for the upward deposit described in FIG. 3, if there is no leverage, the corresponding bitcoin may be simply deposited on the exchange, but if leverage exists, it is possible to deposit upward through margin trading, derivatives, funds, or securities. it will be self-evident Of course, the down deposit is invested in the corresponding derivatives of the exchange.

In the case of the above-described DAI, leverage can be used by repurchasing Ethereum with the loan paid by the borrower and receiving a loan repeatedly. However, the control method of the secured loan according to an embodiment of the present invention can provide the borrower with a leverage function to the borrower terminal more easily by investing the collateral in an investment product having leverage on the exchange.

Alternatively, the computing system 12 may further receive a leverage setting request from the borrower terminal 11 . The leverage setting request means a request for setting a leverage ratio for the up-deposit in step S302 or the down-deposit in step S303. In this case, the computing system may receive the leverage in step S301.

For example, if the borrower terminal 11 requests to set the leverage ratio to 2x, the computing system 12 applies twice the requested leverage ratio even at the time of the rising deposit (S302), and similarly, the lowering deposit (S303) This means that twice the requested leverage ratio is applied. Alternatively, the leverage of the rising deposit and the falling deposit may be configured to be set differently. According to another embodiment, the leverage is applied only to the two-way deposit ratios (100:0, 0:100) of both ends, and the loan may not be paid. Because leverage is for speculative purposes, borrowers can use leverage for speculation without taking out a loan.

If the borrower has invested all of the collateral in a rising deposit with double leverage, as shown in Table 1, if the price of Bitcoin is 15,000 and $5000, the price of the product will be 20,000 and $0, respectively, so the PNL Ratio is Each is ±100%. This represents a doubling of the P&L ratio compared to the case without leverage in Table 1. It is self-evident, however, that the borrower may assume this risk, as this increases the risk of the borrower being forced into liquidation.

4 shows an example of the liquidation process of the secured loan control method according to the present invention by the borrower. The borrower terminal 11 returns all 5,700 ALFA, which is the loan, to the operator and requests liquidation (S401). The computing system 12 receiving the liquidation request checks whether all of the loan amount (ALFA) has been recovered, and if confirmed, incinerates all the ALFAs returned from the borrower terminal 11 ( S402 ). Then, the computing system 12 recovers all of the collateral invested in both directions from the exchange (S403), returns it to the borrower as a recovery money (S404), and ends the liquidation process. In the case of the drawing, the recovery amount is BTC. Then, all of the issued ALFA is incinerated, and the processes of FIGS. 3 and 4 do not affect the total issuance of ALFA at all.

As collateral according to an embodiment of the present invention, bitcoin, which has the smallest price volatility among cryptocurrencies, may be used. The advantage of Bitcoin is that it has the lowest price volatility among cryptocurrencies as well as the most developed cryptocurrency trading market such as derivatives for two-way depositing of collateral. This is because it is possible to reduce excess collateral by selecting collateral with low price volatility in collateralized loans. Meanwhile, the present invention is not limited thereto, and other cryptocurrencies such as Ethereum may be used as collateral in the future. In addition, the collateral according to the present invention may be any asset or product capable of bi-directional deposit based on fiat currency.

As described above, in one embodiment of the present invention, a stablecoin is proposed as a cryptocurrency for the loan. Hereinafter, the characteristics of stablecoins will be described in more detail.

Stablecoins can be fixed in price by an exchange method. In this case, the exchange exchanges the stablecoin at a fixed price. For example, on this exchange, ALFA can be exchanged for Tether at a fixed 1:1 ratio. In this case, the price fixing of ALFA will depend on the arbitrage of users. Reliance on arbitrage means that the price can be fixed through the process of users buying ALFA at a lower price on this exchange and other exchanges and selling it at a higher price to make a profit.

Furthermore, the computing system 12 according to an embodiment of the present invention may be configured as a smart contract or DApp executed in a block chain to transparently disclose the state of collateral to the block chain. . This can be implemented so that the transfer details of Bitcoin as collateral and the amount of issuance of ALFA can be checked directly on the corresponding blockchain network.

3 and 4 are only one example of a cryptocurrency secured loan. The present invention can also be applied to secured loans based on legal currency such as stocks. For example, the borrower deposits Samsung Electronics stocks, receives the loan in fiat currency, and invests in the product according to the two-way deposit ratio in an exchange that trades Samsung Electronics' derivatives at the two-way deposit ratio specified by the borrower. can do. Accordingly, according to the present invention, when the borrower provides the operator with the asset traded in the fiat currency-based spot market and the two-way deposit ratio, the operator can operate the asset in a way that invests the asset in the corresponding derivative according to the two-way deposit ratio. Therefore, the present invention is not limited to the case where the collateral is cryptocurrency, but can be applied to any asset, currency, or product that can be deposited in both directions. That is, if there is an exchange that is a commodity such as crude oil or a foreign exchange transaction (FX) and can deposit in both directions, the collateral loan system and control method according to the present invention may be applied. Therefore, according to the present invention, the collateral and the loan can be deposited in both directions, regardless of the type or form, and can include everything that is transacted.

Advantages of the computing system according to an embodiment of the present invention will be described below.

1) The present invention provides the borrower with a new two-way deposit function that allows the borrower to select the direction of rising and falling prices of collateral to obtain profits. Accordingly, the present invention provides a computing system and a control method in which a borrower can select a two-way deposit ratio of collateral according to their investment propensity and obtain investment results therefor.

2) The present invention can provide borrowers with a new type of secured loan in which forced liquidation does not exist. This is because the present invention can provide this in such a way that the loan includes only the new fixed value part that is not in the existing secured loan.

3) The present invention provides borrowers with a new means to reduce the risk of forced liquidation by adjusting the ratio of two-way deposits. 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 cryptocurrencies.

As described above, an embodiment of a computing system capable of investing through two-way deposit of collateral according to the present invention and a control method thereof have been described, but this will be described as at least one embodiment, whereby the technical idea of the present invention and its configuration and The action is not limited, and the scope of the technical idea of the present invention is not limited/limited by the drawings or the description with reference to the drawings. In addition, the concepts and embodiments of the present invention presented in the present invention can be used by those of ordinary skill in the art as a basis for modifying or designing other structures in order to perform the same purpose of the present invention. , an equivalent structure modified or changed by those of ordinary skill in the art to which the present invention pertains is bound by the technical scope of the present invention described in the claims, and does not depart from the spirit or scope of the invention described in the claims. Various changes, substitutions and changes are possible within the limits.

Claims (20)

1. A computing system that receives collateral from a borrower terminal and processes a loan to the borrower terminal,

   a communication unit for connecting to a network for transmitting and receiving data with the borrower terminal and the exchange;

   a storage unit for storing data related to the loan; and

   Including a processing unit for processing to pay the loan in response to the loan request received from the borrower terminal,

   The processing unit,

   processing to receive the collateral from the borrower terminal;

   process some or all of the provided collateral to be invested as a downward deposit, and the remainder of the collateral to be invested as a rising deposit;

   The investment as the downward deposit and the upward deposit is a type of investment in which a profit occurs when the price of the collateral falls and rises, respectively,

   The bidirectional deposit ratio, which is the ratio of the falling deposit and the rising deposit, is characterized in that it is set by the borrower terminal,

   A computing system that enables investment through two-way deposits of collateral.
2. The method of claim 1,

   The processing unit,

   receiving a leverage setting request from the borrower terminal;

   Characterized in that processing such that the requested leverage is applied to the investment as the upward deposit and the downward deposit,

   A computing system that enables investment through two-way deposits of collateral.
3. The method of claim 1,

   The processing unit,

   Process the loan to be paid in fiat currency or cryptocurrency,

   The cryptocurrency paid as the loan is a stablecoin newly issued based on the collateral,

   A computing system that enables investment through two-way deposits of collateral.
4. The method of claim 1,

   The investment as the upward deposit or the downward deposit,

   Characterized in that the investment through margin trading, derivatives, funds or securities performed on the exchange,

   A computing system that enables investment through two-way deposits of collateral.
5. The method of claim 1,

   The loan is characterized in that it is made to include at least one of a value-variable part in which the value fluctuates with respect to a price change of the collateral and a fixed-value part in which the value does not change,

   A computing system that enables investment through two-way deposits of collateral.
6. 6. The method of claim 5,

   The processing unit,

   setting the security recognition ratio (LTV) of the fixed value part to be higher than the security recognition ratio of the value change part;

   characterized in that the amount of the loan is determined by individually reflecting the security recognition ratio corresponding to the value change part and the value fixed part,

   A computing system that enables investment through two-way deposits of collateral.
7. 7. The method of claim 6,

   The processing unit,

   characterized in that the amount of the loan is determined by setting the security 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,

   A computing system that enables investment through two-way deposits of collateral.
8. 6. The method of claim 5,

   the processing unit,

   If it is expected that the value of the variable part of the loan is short in value, the forced liquidation of the value change part is processed;

   Even if forced liquidation occurs in the value change part, if the value fixed part exists, it is characterized in that the loan of the value fixed part is continuously maintained,

   A computing system that enables investment through two-way deposits of collateral.
9. 6. The method of claim 5,

   The collateral recognition ratio of the value change part is characterized in that it is determined based on the liquidation price at which forced liquidation occurs,

   A computing system that enables investment through two-way deposits of collateral.
10. The method of claim 1,

    The processing unit,

    When a liquidation request is received from the borrower terminal, it is checked whether all the loan money has been recovered,

    If it is confirmed that the recovered, processing to recover the collateral invested in the exchange,

    Returning the recovered collateral to the borrower terminal to complete the liquidation

    A computing system that enables investment through two-way deposits of collateral.
11. In the control method of a computing system that receives a collateral from a borrower terminal and processes a loan to the borrower terminal,

    processing to receive the collateral from the borrower terminal;

    processing to pay a 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 downward deposit, and processing the remainder of the provided collateral to be invested as a rising deposit;

    The investment as the downward deposit and the upward deposit is a type of investment in which a profit occurs when the price of the collateral falls and rises, respectively,

    The bidirectional deposit ratio, which is the ratio of the falling deposit and the rising deposit, is characterized in that it is set by the borrower terminal,

    A control method of a computing system that enables investment through two-way depositing of collateral.
12. 12. The method of claim 11,

    receiving a leverage setting request from the borrower terminal; and

    Further comprising the step of processing the requested leverage to be applied to the investment as the upward deposit and the downward deposit,

    A control method of a computing system that enables investment through two-way depositing of collateral.
13. 12. The method of claim 11,

    The steps to process the loan payment are:

    Process the loan to be paid in fiat currency or cryptocurrency,

    The cryptocurrency paid as the loan is a stablecoin newly issued based on the collateral,

    A control method of a computing system that enables investment through two-way depositing of collateral.
14. 12. The method of claim 11,

    The investment as the upward deposit or the downward deposit,

    Characterized in that the investment through margin trading, derivatives, funds or securities performed on the exchange,

    A control method of a computing system that enables investment through two-way depositing of collateral.
15. 12. The method of claim 11,

    The loan is characterized in that it is made to include at least one of a value-variable part in which the value fluctuates with respect to a price change of the collateral and a fixed-value part in which the value does not change,

    A control method of a computing system that enables investment through two-way depositing of collateral.
16. 16. The method of claim 15,

    setting a security recognition ratio (LTV) of the fixed value portion to be higher than the security recognition ratio of the value change portion; and

    Further comprising the step of determining the amount of the loan by individually reflecting the security recognition ratio corresponding to the value change part and the value fixed part,

    A control method of a computing system that enables investment through two-way depositing of collateral.
17. 17. The method of claim 16,

    The setting step is

    characterized in that the amount of the loan is determined by setting the security 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,

    A control method of a computing system that enables investment through two-way depositing of collateral.
18. 16. The method of claim 15,

    If it is expected that the value of the variable part of the loan is short in value, the forced liquidation of the value change part is processed;

    The step of processing the forced liquidation is

    Even if forced liquidation occurs in the value change part, if the value fixed part exists, it is characterized in that the loan of the value fixed part is continuously maintained,

    A control method of a computing system that enables investment through two-way depositing of collateral.
19. 16. The method of claim 15,

    The collateral recognition ratio of the value change part is characterized in that it is determined based on the liquidation price at which forced liquidation occurs,

    A control method of a computing system that enables investment through two-way depositing of collateral.
20. 12. The method of claim 11,

    when a liquidation request is received from the borrower terminal, checking whether all the loan money has been recovered; and

    If it is confirmed that the recovered, processing to recover the collateral invested in the exchange; and

    Returning the recovered collateral to the borrower terminal further comprising the step of completing the liquidation,

    A control method of a computing system that enables investment through two-way depositing of collateral.

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