Welcome, it’s been a busy few months since we introduced the SaltLending.com platform at Consensus in New York and completed our discounted membership sale in August, so we thought we’d start off our new blog on Medium with an introduction to the SALT Lending Platform.
The SALT Lending platform is a membership-based financial ecosystem that enables cryptocurrency holding individuals and companies to take out cash loans with competitive interest rates using their crypto as collateral during the course of the loan. We have three membership levels available which cater for people looking for small, medium or large-scale loans as well as differing repayment lengths. The platform has been developing steadily over the last couple of months, and we plan on entering the first phase of live testing in the near future with a select number of beta testers.
We created the SALT Lending platform for a number of very real reasons. Like many of you, we’ve had our ear close to the ground seeing how the blockchain industry is evolving, and having been involved locally in Colorado for a number of years, there were often discussions that came up around what people can do with cryptocurrency once they have it. For many, these are to hodl them for short, medium or long periods, often in cold storage wallets, while others have risked them to day-trade crypto on their favourite cryptocurrency exchange, or to spend them on goods or service with crypto accepting retailers.
So out of these limited options, the idea for a Blockchain-Backed Loans™ platform came around, and pre-production on the SALT platform commenced in early 2016. After many months of evaluating the viability of the platform and building out the core team, development commenced in January 2017 creating the underlying infrastructure on which that platform would be built, custom building the ERC-20 smart contracts (our SALT Token) for the annual memberships, as well as the smart contract technology and oracles for the operating the loans themselves.
Then in March 2017, we issued the the first testing Blockchain-Backed Loan, and we have spent the time since furthering development the platform so it is ready for public launch later this year. Our membership sale over the summer has helped us validate the market interest in our platform, and we look forward to providing our first loans in the near future.
We will be releasing further information here on Medium over the coming weeks, but if you want to stay up to date with all things SALT, we’re providing a variety of ways in which you can contact the SALT Team and you can follow @SaltLending, like Salt Lending on Facebook, or see our videos on our YouTube channel.
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