SALT delivers an alternative route to make money from cryptocurrency assets without giving up your position. It’s a lending platform which uses blockchain to back loans. In simple terms, SALT brings the ability to list your blockchain assets as collaterals for a cash loan. Every crypto asset holder can lend them to anyone else, receive interests and regain their crypto asset as soon as the loan is paid back.
SALT attracts investors by offering no prepayment fees. The interest rate depends on the mutual agreement between involved parties. The process of applying for a loan is also much more straightforward compared with traditional services. No credit score is required and instead of focusing on borrowers history, SALT pays attention to his or hers cryptocurrency and assets value. Such model may appear risky at first, but it’s not as all loans are secured with legally compliant smart contracts.
ETHLend
ETHLend is a facilitating platform for both borrowers and lenders. Here, lenders and borrowers can meet up and decide everything from loan duration to the interest rate. Like Jibrel, the platform runs on Ehtereum network and uses ERC20 tokens act as a deposit on the loan. If the borrowers succeed to repay their debts, all the collaterals are forfeit. It works like most of the fiat peer-to-peer lending services, except the service is on blockchain and uses LEND tokens.
ETHLend has announced a strategic partnership with Brickblock to explore further blockchain lending opportunities. Brickblock itself is a trading platform which aims to connect real-world assets and cryptocurrencies to create a new generation asset trading platform. With Brickblock people can trade their ETf’s, real estate and coin funds on the blockchain. Anytime soon the company expects to sell the first tokenized real-estate building with its Proof of Asset tokens.