# (Community Pool Proposal) Cover - A Generalized Peer to Peer Lending Platform **URL:** \ **Category:** Secret Governance\ **Created:** [April 13, 2022, 7:26pm UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832 "2022-04-13T19:26:48Z")\ **Posts on this page:** 9\ **Page:** 2
**Author:** ![TheWaffle](https://yyz1.discourse-cdn.com/flex035/user_avatar/forum.scrt.network/thewaffle/32/4254_2.png) [@TheWaffle](https://forum.scrt.network/u/TheWaffle)\ **Post date:** [April 15, 2022, 9:31am UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832/22 "2022-04-15T09:31:52Z")
Very interesting project and well written proposal @srdtrk. I like the idea of permissionless Peer to Peer lending, especially when it also includes NFTs as collateral. This will definitely bring some attention to our ecosystem, grow Secret’s DeFi and attract liquidity from other IBC chains. Regarding the usecases of a token, you say: > “There’s nothing wrong with the coin becoming a dump and a “worthless” governance token.” I do not agree with this point, there are many ways to add value-capturing mechanisms to the token beside governance: Staking to earn some of the protocol fees ? Vesting period to reduce the fees when borrowing/lending ? Among others… Beside the token usecases, I am very much looking forward to the development of this dApp and I wish you good luck ---
**Author:** ![srdtrk](https://yyz1.discourse-cdn.com/flex035/user_avatar/forum.scrt.network/srdtrk/32/3344_2.png) [@srdtrk](https://forum.scrt.network/u/srdtrk)\ **Post date:** [April 15, 2022, 5:37pm UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832/23 "2022-04-15T17:37:20Z")
Thanks @TheWaffle . Maybe I was too pessimistic in my typing. I just didn’t want to seem like I was shilling a non-existent token. I do believe it would succeed, that’s why I put it at the center of self sustenance efforts. But I wanted to keep expectations low and didn’t want to be responsible for convincing people to buy the token and then lose money. I’m probably just a very bad marketer haha ---
**Author:** ![srdtrk](https://yyz1.discourse-cdn.com/flex035/user_avatar/forum.scrt.network/srdtrk/32/3344_2.png) [@srdtrk](https://forum.scrt.network/u/srdtrk)\ **Post date:** [April 15, 2022, 5:47pm UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832/24 "2022-04-15T17:47:33Z")
Thanks for the feedback @winston. The reason I didn’t ask funds for marketing is that it is not clear what we would spend it on, especially at launch. I believe the standard support from Secret Agents and other projects in the network would be enough to let everyone in the ecosystem know about this dapp. If the dapp launch is successful, people are having a good time using this dapp, and bond marketplace is implemented. I believe it would be healthier to think about marketing costs to open up to IBC then. ---
**Author:** ![SoberGluttony](https://avatars.discourse-cdn.com/v4/letter/s/e5b9ba/32.png) [@SoberGluttony](https://forum.scrt.network/u/SoberGluttony)\ **Post date:** [April 16, 2022, 12:12pm UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832/25 "2022-04-16T12:12:34Z")
I want to preface this by saying I am quite tired, so I apologise if anything I write is hard to understand. I want to weigh in with my feedback on the marketing aspect. Overall, I do also understand and somewhat agree with the concerns on why increase the competition for lending platforms on the network, however I think this is heavily dependant on consumer expectations. How this ties into marketing is I think it is incredibly important to streamline your brand, UX/UI, messaging and such to properly communicate your specific, differentiating use case, to the consumers who you expect to use it. There are amazing products out there that aren’t used because they don’t reach their optimal end user, and I fear that especially with the upcoming release of ShadeLend and SiennaLend, that you will see a similar scenario surface; people won’t have the information readily available to them to understand the value that your specific product brings, in contrast to or even in combination with the other aforementioned products. Managing these expectations is key, as building the most unique product doesn’t matter if people don’t see it from the perspective/angle you do. And, without understanding or at least attempting to reach your market segment, this will be difficult to achieve, especially in light of the traction that Shade specifically has gathered - Sienna not so much. Marketing isn’t just about promotional materials, making advertisements, shilling, etc. The main responsibility of a marketer imo in the current corporate world should be to accurately empathise with the consumer to maximise both the impact and effectiveness of your products value offering; _Marketing is the business practice/application of empathy, translating empathy into a valuable, mutually beneficial, professional trait._ I think even if you are to utilise the Secret Agents to create exposure for your product, understanding how to maximise the impact of the agents during a promotional campaign is valuable, then how do they interact with your posts/twitter account, what’s their experience on your landing page, do you have a way to retain users/convey the specific use case of your product in an easy to digest way that will resonate with the user, etc could be angles for which having a marketing budget might be helpful. Saying all this, I’m not 100% sure what would be the most effective way to deploy any budget you would allocate to marketing, and maybe that’s where it could be helpful to touch base with other marketing focused individuals in the community for some feedback. Anyway, this was a bit of a ramble, apart from that very interested in how things turn out 🙂 Sorry if anything was difficult to understand, hope this is somewhat thought provoking! Have a wonderful day/night \<3 ---
**Author:** ![Rickspindler](https://avatars.discourse-cdn.com/v4/letter/r/48db29/32.png) [@Rickspindler](https://forum.scrt.network/u/Rickspindler)\ **Post date:** [April 21, 2022, 8:17pm UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832/26 "2022-04-21T20:17:13Z")
I voted yes. I believe that you have outlined a proposal that is detailed enough to be successful and I believe that our funds would be put to good use by supporting an innovative project built on SCRT. ---
**Author:** ![DannyM](https://yyz1.discourse-cdn.com/flex035/user_avatar/forum.scrt.network/dannym/32/3332_2.png) [@DannyM](https://forum.scrt.network/u/DannyM)\ **Post date:** [April 22, 2022, 1:05pm UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832/27 "2022-04-22T13:05:20Z")
Digiline Validator voted YES on proposal #87. We believe that the most important thing for the network right now is getting more high quality dApps developed, and thus we believe that one of the core uses of the community pool is to fund the development of dApps. We believe that the proposal for Cover’s p2p lending platform is a great one, with a lot of potential for the network to grow, and given that we’re also very confident in the skills of the team presented in the proposal, to us it was a no-brainer to vote YES on this proposal. ---
**Author:** ![srdtrk](https://yyz1.discourse-cdn.com/flex035/user_avatar/forum.scrt.network/srdtrk/32/3344_2.png) [@srdtrk](https://forum.scrt.network/u/srdtrk)\ **Post date:** [April 28, 2022, 3:41am UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832/28 "2022-04-28T03:41:19Z")
(27/04/2022) **Update** : This proposal has passed. We will start work next week. ---
**Author:** ![SoberGluttony](https://avatars.discourse-cdn.com/v4/letter/s/e5b9ba/32.png) [@SoberGluttony](https://forum.scrt.network/u/SoberGluttony)\ **Post date:** [April 29, 2022, 12:38pm UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832/29 "2022-04-29T12:38:27Z")
Congrats 🎉🎊🍾🎈 Keen to be using your platform when it’s done ❤ ---
**Author:** ![martyvb2](https://yyz1.discourse-cdn.com/flex035/user_avatar/forum.scrt.network/martyvb2/32/3168_2.png) [@martyvb2](https://forum.scrt.network/u/martyvb2)\ **Post date:** [May 3, 2022, 9:28am UTC](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832/30 "2022-05-03T09:28:58Z")
Congrats! Glad to see your hard work pay off. Can’t wait to see more! [Previous page](https://forum.scrt.network/t/community-pool-proposal-cover-a-generalized-peer-to-peer-lending-platform/5832.md?page=1)