Use cases
Last updated
Last updated
Listing Coins for Rent:
Role: Coin Owner/ Coin renter
Action: A user who holds Clore coins and has verified them in the Proof of Holding (PoH) system can list their coins for rent on the PoH marketplace. And verified user which wants to apply for a coins rent can add his offer to the marketplace.
Process:
The user navigates to the PoH marketplace and selects the option to list coins for rent.
Where specify the amount of coins (minimum 500), the rental duration (minimum 1 hour, maximum 30 days), and the desired annual rental rate (between 5% and 250%).
The system calculates the potential earnings using an online calculator.
Upon review, the user publishes the offer, which then appears in the marketplace listings.
Searching for Coins to Rent:
Role: Renter
Action: A user looking to rent Clore coins can search the PoH marketplace for suitable rental offers.
Process:
The user browses the marketplace listings and uses filters to narrow down search results based on the amount of coins available, rental duration, and rental rate.
Upon finding a suitable offer, the renter can agree to the terms and initiate the rental agreement.
The rented coins are transferred to the renter's account for the agreed-upon duration, and the associated rental fee is deducted or credited based on the terms.
Creating a Custom Rental Offer:
Role: Renter/owner
Action: If a user cannot find an existing rental offer that meets their requirements, they can create a custom offer seeking to rent coins.
Process:
The user specifies the number of coins they wish to rent, the rental period, and the annual rental rate they are willing to pay.
This custom offer is posted to the marketplace, where it can be seen by coin owners.
Interested coin owners can then respond by agreeing to the rental terms, effectively creating a new rental transaction.
Managing Active Rentals:
Role: Coin Owner or Renter
Action: Both parties can manage active rentals through the PoH marketplace interface.
Process:
Coin owners can monitor which of their coins are rented out, track the rental duration, and view their earnings in real time.
Renters can see the duration remaining on their rented coins and manage how they utilize these coins during the rental period.
Both parties receive notifications regarding the status of their rentals, including the start and end of the rental period and any changes in rental conditions.
Ending a Rental Early:
Role: Coin Owner or Renter
Action: Either party can end the rental agreement early, subject to conditions.
Process:
If a coin owner needs to regain control of their rented coins before the agreed period ends, they can terminate the rental. A small penalty fee (3-5% of the daily profit) is charged for early termination.
Renters can also decide to end the rental early if their needs change. They will stop paying the rental fee from the moment the coins are returned.
Early termination must be confirmed by both parties, ensuring clear communication and agreement.
Receiving and Reviewing Notifications:
Role: Coin Owner or Renter
Action: Users receive notifications about the status of their offers and rentals. And both users can communicate with each other via messenger
Process:
Notifications include confirmations of successful listings, rentals, and terminations.
Users are informed when someone takes up their rental offer, or if a counter-offer is made.
System-generated alerts help maintain transparency and ensure all parties are informed about the state of their rental transactions.
Reviewing Rental History:
Role: Coin Owner or Renter
Action: Users can view the history of their rental activities.
Process:
The marketplace provides a detailed history section where users can review all completed rental transactions, including past offers, amounts, rental rates, and durations.
Users can access detailed reports on each transaction, helping them track performance and optimize future rental strategies. Users can repeat the offer to publish it again to the marketplace.
