Original Hive.Loans Domain got Poached... Damnit!

As some of you may know when development started on the Hive Loans lending platform I'd managed to score a domain called "Hive.Loans" in order to host it on. Initially that domain costed me around $80, the second year was$120 and by the third year the price had gone up to $180 to renew which I could not afford.. Someone ended up sniping that original domain sadly, and while I totally "get it" they wanted over$300 for it and my monthly budget for everything after rent is ~$500 CAD which simply put wasn't feasible.

A Hero Steps Up Out of the Blue, With an Amazing Offer!

Yesterday (or the day before maybe) got a DM on discord from @coininstant and he asked me if I had any interest in a domain called "HiveLoans.io" which let's be honest... is WAY COOLER than the "Hive-Loans.site" domain I'd purchased due to no longer being able to access/afford the original Hive.loans domain. Sounds silly to type but just knowing that the project has a proper domain again has given me an extreme boost in "fire under my ass" to get things rolling.

He offered to transfer to the domain to me for an extremely generous trade amount, which I bartered (reverse barter) with him ending up offering to pay double his asking price, because I felt his asking price was far too low and he did me a MASSIVE solid favour camping the HiveLoans.io domain and then being kind enough to offer it to me after seeing the HL project was back under development..

Simply put @coininstant's offer was incredibly kind act of generosity and I believe 100% he deserves recognition of being a stand up guy, KLYE supporter but ultimately a guy willing to give up something he paid good money for in order to make the HIVE ecosystem overall more professional looking.

HiveLoans.io will be the new domain of the Hive Loans Platform!

^{( The development site will go live on the domain as soon as the refactor of the modules is complete )} 

Hive Loans Development Status Update

To round out this thank you post will share the current state of development on the site / app and what I am working on. Basically once I got everything set up again to work on the site locally it came to my attention a number of the libraries / modules the platform was using are outdated and or had critical security vulnerabilities that simply put CANNOT be used and are no longer viable for a system that requires absolute security... Below is the output of the "npm audit" command used t check for known vulnerable libraries.. As you can see a number of massive problems with the current build are present and a fair amount of refactoring will have to be done in order to move the codebase over to newer secure versions and perhaps in some cases the entire module must be replaced with something else and all code using it rewritten to use the new module.

_{( a small look at the blockchain watchdog daemon parsing blocks to look for Hive Loan operations )}

This isn't a small undertaking but is the first step towards making damn sure this platform is built as solid as possible. While embarrassing it's taken this long to get back to Hive Loans project it may have been a slight blessing in disguise, because at the time I implemented these libraries they were thought to be secure.. Turns out they weren't!


Back to the Fundamental Application Functions

So that is currently what I am working on, code refactor to fix all known vulnerabilities in libraries. Once that is done I can focus on the account management and recovery code, after that finish the blockchain operation watch daemon to look for potential malicious users taking out loans but trying to change withdrawal routes to screw the lender and platform..

When this is detected the user will be locked out of the account ENTIRELY until the loan is repaid and the 30% fine is also been paid. Needless to say those trying to weasel their way out of paying the established Hive Power power-down schedule will end up punished both with access removed and the majority of remaining HP taken as a fine fee. once the malicious user has paid it all off they will be given account master keys back.

The account management, Hive Power power-down watchdog and application profit dividend systems have to be entirely perfect before the site can be 100% online. The planned futures trading is being disabled as to not fall into the feature creep development track.

The core functions of the site are main priority, and once I'm done updating these modules that have vulnerabilities I'm excited to get the last 5% - 10% of the code done and tested so HIVE can offer a first of it's kind lending platform. No other chain has this, HIVE has the perfect set of on chain functionality to achieve this.. Sort of amazing actually to be the guy whose invented an entirely new lending protocol not only for HIVE but the entire crypto ecosystem in general.

Any planned but scrubbed for V1 release functions will come later. I have a number of things I want to add to the site but ultimately the core Hive Loans lending protocol is #1 priority after the security. Looking forward to posting more updates and getting the site online here soon.

[HLSHARE](https://hive-engine.com/trade/HLSHARE) Token is Live on Hive Engine & TribalDex

Roughly 3 days ago the official Hive loans [HLSHARE](https://hive-engine.com/trade/HLSHARE) token was distributed to all 1st round backers and made available for free trade on the Hive-Engine platform. Not only does this allow for those who bought HLSHARE to sell theirs on the open market if they wish to, but also allows folks to buy up a good chunk of HLSHARE in anticipation of the site going live in the next few months. Each HLSHARE held by a HIVE user entitles them to 0.0002% of the total site profit.

Currently only 10089 HLSHARE are available on the market with prices just below the 1 HIVE = 1 HLSHARE price and then roughly 10,000 at the standard 1 HIVE per 1 HLSHARE price. 500,000 HLSHARE total have been created, with no more ever to be released (UNLESS HLSHARE Holders Vote for a HLSHARE stock split, but I will never allow for dilution of peoples holdings issuing more, a split would still entitle the holder to the same amount) with 51% to be held indefinitely by the @KLYE account to maintain control over the site (HLSHARE holders will have ability to vote on site changes in a release after v1 goes live) but my plan is to not over-ride the communities votes UNLESS it's detrimental to the operation of the platform.

While the 51% holding the developer holds can veto all other votes by design, the hope is the community acts in the best interest of the platform with their voting power so I can be "hands off" and let those backing the site and holding HLSHARE for dividends and voting rights to essentially vote on what gets implemented in subsequent releases, have the community set the fees and whatever else. While I've taken way too damn long to build this thing, it's time to buckle down, lock in and get this going.. Applications like this built on HIVE will give outside crypto users a reason to look seriously into joining our community and purchasing HIVE, I suspect it will make waves in the crypto news community as well.

^{( I'm terrible at marketing but will try and find a way to get the site launch announced on popular crypto news sites to drum up some attention to Hive Loans unique protocol and HIVE blockchain itself. Innovation and novel implementations of blockchain tech only happen every so often. While it's common for a developer to hype up his creation, I honestly believe this platform will change the way people look at the HIVE ecosystem, no longer as a blogging chain, but as a financial vehicle they can invest in via capital, sweat equity through blogging or holding HLSHARE to receive passive income and support development as well as have a say in future development direction )}

Hive Loans Concept is a Completely Novel & New Lending Platform

The implications of having such a service will be a MASSIVE disruptive technology that nobody else has in the crypto ecosystem. Hive Loans is he first of it's kind in the world, and I'm absolutely fucking delighted to be the guy to not only have come up with this concept but also being close to having it become a useable platform. This lending protocol method is literally only achievable on HIVE (and maybe EOS in the future, not on priority list though?) due to the way it's set up..

Invention of such things is how I personally channel the power of the creator / god / the architect of reality.. And I'm extremely thankful for those in the community that have helped me get to where I am in the technical understanding aspect of the HIVE blockchain. I'm excited for lots of reasons, but primarily it comes from being back on track to deliver what may in-fact be HIVE's "Killer App".

Thank you for reading, voting and supporting my efforts on HIVE <3 _{^{All of my posts in 2025 will be set to be paid out as 100% Hive  Power, Thank you for the comments, votes and support. <3}}

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