Blockchain-Backed Loans
Token symbol
Crowdsale cap
Start Date
Close date
Smart contract blockchain
Team:
Blake Cohen - Business Development
SALT is a membership-based lending and borrowing network that allows users to leverage their blockchain assets to secure cash loans. On the SALT platform, users can obtain loans using their cryptocurrency holdings as collateral.
With SALT, users can leverage the value of certain digital assets, thereby giving them access to cash, offsetting tax events, avoiding exchange fees and maintaining their long position in the asset they hold.
Users need to obtain SALT tokens in order to participate on the platform and obtain loans. The more SALT tokens users spend each year, the larger amount of borrowings they can obtain.
With the SALT platform, users can obtain liquidity from their cryptocurrency holdings without selling them, just like other traditional asset classes such as stocks, bonds, real estate, and commodities.
SALT loans are exclusively collateral-based, which means that the borrower’s credit history is inconsequential. Any user’s collateral has the same value to lenders as anyone else on the platform, regardless of each user’s credit score.
Expert Review
There is a huge competition between blockchain-based lending platforms. SALT Lending promises a secure way to earn money. The projects' site promises an easy application for borrowers, fast approval, and no credit checks. Such a scheme will require either huge interest rates to compensate for bad loans, or it will quickly go bankrupt. It is likely that the team has other thoughts about all these aspects, but too advertising statements on the site immediately cause distrust. Overall, the project looks quite good - quality and complete documentation, a really big team, lots of partners and even MVP.
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