Update to API Terms of Use

[thezfunk]

Anyone else get this email?

    
Thank you for participating as a lender on the Prosper platform. July will be another record month for our company.
As the demand for loans and notes on our platform has increased, the number of API queries received by our servers has increased to an even greater extent. Recently, the volume of these queries has reached a point where it is significantly reducing the speed at which the API performs its functions. In order to prevent this reduction in functionality, and to insure the stability of our platform more generally, we will be changing the API Terms of Use effective as of the close of business tonight to prohibit users from querying the API more than 20 times per second.
We will continue to monitor the performance of the API carefully, and appreciate your cooperation in this matter.
Thank you,
Prosper Lender Services

[Peter]

Yep. I got it as well. Looks like their API must be getting hit pretty hard these days. I am investing in Prosper through NSR Premium so I will be interested to see if this makes any difference.

[core]

20 times PER SECOND?  And that's the new/slow max?  Zoiks! 

That's 50ms.  Even if you had a round trip ping time of 25ms from your location, that's still a bit on the hellishly fast side given that you'll never get a full request handled that quickly.  Opening multiple connections pounding away the same concurrent requests seems like overkill to me.

Here I was thinking one request every 5 seconds was a bit on the abusive side and 30 seconds was being nice.  Wow.  I think this published change may have the opposite effect from what they intended? 

[Fred]

Having dealt with Bloomberg data a lot, I begin to think that LC and Prosper could start charging API calls the way Bloomberg does: per security, per field, etc.

How does $0.01 per field sound?

This should help level the playing field for retail investors, and provide additional revenues to LC and Prosper.

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=1393.msg10069#msg88888888Quote"> from: Fred on August 01, 2013, 12:09:13 AM

[Prescott]

Part of the problem prosper has is how loans trickle out. If you've ever used the API during listing time, you'll notice that it takes time for all the listings for that posting time to actually come out.

If you wait 2 minutes to pull data, you're behind people who pull at 30 seconds after the hour. If you pull 30 seconds after the hour, you're missing the listings that come out 45 seconds after.

I think the only half decent solution is to hit it pretty often. 5 seconds is the difference between getting a listing and not in many cases. You want to hit it much harder than that. Probably at least once a second.

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=1393.msg11356#msg88888888Quote"> from: geobmx540 on August 26, 2013, 03:37:15 AM