[RFC] Postpone the variable rate of grandfathered loans for the first year

Old loans before the new variable rate was implemented already had to pay a 1% fee upfront. I am putting in the request to delay the new variable rate for old loans that paid the up front fee. At least for one full year, then the old loans will be subject to the new variable rate. Grandfathered loans never agreed to these terms when getting the loan issued. I don’t think it is fair to be charged a variable rate on top of the flat fee that was already paid . New loans aren’t subject to this 1% flat fee, so early supporters of the protocol, like myself, are the ones getting the shaft. The emergency fund will still earn from new loans, but forgoes the earnings from old loans for the first year. Please consider doing right by your early adopters.


Makes sense to me. Not sure about 1 year, but at least 2x the time it would take for the new rate to catch up to 1%. I thought it had been 0.5% borrow fee though.