Quote from: ThaddeusB on February 19, 2013, 04:31:47 PM

If VIR is always chosen first (i.e. even when higher than the lowest fixed rate), over time nearly all lenders will switch to VIR.

yes, that seems to be what's happening. Those VIR loans create some kind of a wall, which effectively cut you off the loan market (unless you deliberately borrow before trading).

And an especially annoying problem is: often there are enticing offers for 1 day. Even yesterday, during those extreme rates, there was an 1-day offer for just 40% percent. But unfortunately, there is no way of getting into a position using those. Since the VIR offers are preferred always.

Just as an example, recently the offers were as follows:

But when attempting to open long for 1 day, you get an offer over 0.17 %
which shows that we're using VIR solely, which were at that time at 60%

Now the question is, do you think this would change if users could set a toggle that they don't want VIR, and set a limit for their rates? Would that change the market behaviour and help to move the rates down more quickly when there is not so much demand?