Banking Interest

What do we want in Wynncraft more than anything?
Combat XP- I mean Money — lots of it.

I feel like no matter how many mobs and quests I complete, and it's always too short of how much money I need.
So I decided to give the idea of Interest while you are offline or online in Wynncraft!
While you sleep, you gain money, but not a lot of it.
I think Interest should be at 2% so that people can't abuse this and it will encourage people to stock up and save their money!

How Interest Will Work

1. A player will be offline and has 100 emeralds in his ender chest.
2. Every day the player is offline, 2% will be added to his emerald stockpile in a unique chest in the Player Menu that will be in the icon of an Emerald/Enderchest next to the Daily Reward, and they will have to open it for whatever interest they will gain.
3. The number will always run down, so if you are at 2.04, 2.6, or even 2.9, you will still get two emeralds as interest.

Why Interest Should Be Implemented

• I want money even while I take short vacations of Wynncraft.
• The interest could be an upgrade to your bank from perhaps a Banking quest or some bank upgrade.
• Frankly, I believe the banks aren't doing so well except for storing items, which isn't the actual purpose of the bank.

Where Did You Get This Idea

I found the real idea from economics class and the way to implement it through Minecraft from Hypixel Skyblock. I wish for this idea, and I can't wait for what surprises Wynncraft has in store.

 

because wynncraft isnt already similar enough to hypixel skyblock

 

Doing this would massively inflate the economy, and isnt even related to irl economics because instead of the interest being paid through other's bank balances, the money is directly created.

tldr if you have to switch the yes and no on the poll to trick people odds are its not a particularly good idea.

 

The Wynncraft bank is a deposit bank, not a loan bank. It makes zero sense for it to have interest.

 

Besides the fact that the wynn bank is indeed a deposit bank. By using some math and an alright balance of 1 stack. The person would obtain about 1.28 LE per day. This would inflate the economy even more

 

Apparently a bunch of rich people is promoting this thread and I don't know if I should act proud or afraid.

 

I'd personally make over 1 le per day, and I'm reasonably poor, cash-wise. Some people would make more than a stack a day, and a substantial number would make at least a stack a week. Inflation's bad enough already.

 

No. Isn't the economy already terrible? Why ruin it to the point of no return?

Looks like you still haven't learned how to make thoughtful posts, even after your shaman rant got completely taken apart by everyone...

 

Oh, you were there for that?
Thank you for your inspirational speaking and I hope to see more of it in the future.
:)

 

I'd support this only if the rate was scaled inversely proportional to the amount of money inside your bank. (eg: someone with 100E would get 2% interest and someone with 1000000E would get 0.02% interest) This would be a simple way of giving low-leveled players a little bit of help while also not inflating the rich and creating massive inflation.

 

Sarcasm won't make your post any better.

 

I know, but you have actually given me some helpful stuff.
Frankly, I didn't care about the Shaman because in the title it was MY THOUGHTS.
I just was not going to point that out whatsoever because so many people got it wrong.

 

Daily auto-generated 2% interest is a great way to create runaway inflation.



After 2 months, someone with 1le will have 3.2 le from doing nothing. Likewise, someone with 10 stx will have 32 stx.
Interest or any kind of investment/% based returns just widen the gap between low and high wealth players. It also incentivizes everyone to sell all their assets for cash to generate interest returns. Compounded interest isn't a good idea no matter what % it's set to. The daily reward already gives all players an equal (+/- rng) amount of money every day.

Interest in real banks serves as incentive for consumers to essentially lend the banks their money. The banks can then consolidate lend that money to businesses and projects that require capital, earning a greater return than they owe their banking customers in interest, and keep the difference. The business loans generate more interest because they're riskier than bank accounts, but banks keep a diverse portfolio of loans to minimize default risk and almost never have to pay back all their account holders at once (bank runs). Generating money from thin air as risk free "interest" to reward players has no function in wynn's economy except to give a financial edge to long time players over newbies.