Topic: [ANN] [ICO] CEREAL - BLOCKCHAIN ECOSYSTEM FOR ASSET-BASED LOANS (Read 1336 times)
I think your project is potential and seems really interesting. I hope it can be developed and used popular because of increasing deposit to the level required and pay off a part of the debt to comply with the deposit amount or repay the debt in full.
Best of luck, looks interesting.
August 03, 2018, 01:42:00 PM
It's good to see all the options that are feasible for a borrowers. Will there be any penalties if a borrower can not repay loans on time ?
What is the process for applying for a loan ? Will there be necessary for passing KYC?
It's reliable as the collateral is stored on the external cold wallet of their reliable custodian partners that adds to security of crypto funds and as they said Cryptonomos software doesn’t have access to these wallets.
What is the maximum amount of loan can i take from Cereal?
And is it possible to take multiple loans within a year if i hold the amount of assests to pay for it?
I think the minimum is $10k and the maximum amount is 1 mln, depends on size of CRL token volume you own. The more you obtain, the more benefits you can get from it.And is it possible to take multiple loans within a year if i hold the amount of assests to pay for it?
Why would someone take multiple loans for purchasing miners, rather they will choose the best time to lend and purchase the maximum amount? There will be benefits if you purchase a lot at once rather than taking multiple loans several times.
What are the challenges on the cryptolending market? There are some other companies that provides a loan based on assets too.
Hello!
One of the main challenges is uncertain legislation. In many countries there is still no established legislation and many details need to be taken into account. But we have already worked with credit products before and know how to work in over-regulated market.
Best,
CT.
Cereal is a platform offering credit products that are secured by customers’ mining equipment, cryptocurrencies and other blockchain assets. Cereal is developing a suite of products catering for the individual needs of various market participants.
I believe the same. Peoples will like the idea of Cereal because the process of obtaining a loan takes less time compared to the procedure for obtaining ordinary bank loan products as there is no scoring procedure I hope this time i am having an oppertunity to invest in a good project like this but for now have to wait and see how well they are doing in the market.
Will Cereal products are available globally as cryptocurrency being available globally or it's only fixed within Asian regions?
Thank yo for the question.
We plan to start from Asia, then we will expand to Europe and the USA and other countries. We could consider the other countries if they prepare the cryptocurrency friendly regulation.We are basic all startng with the product for purchasing miners in June. After that we are going to more the focus on the credit solutions secured by cryptocurrencies.
Best,
Cereal Team.
I dont think that they will fix it within Asia although the miners in Asian regions are quite a crowd. Maybe lately they have plans to tie up with other companies and operate in other regions too.
This name makes me hungry for a reason.. :O
I start my day with Cereal too 
Best
CT
Between how will be the loan amount and monthly payments be tracked?
Hi, After the client transfers his assets to Cereal as deposit, we transfer the fiat money to the client’s account. Information about monthly payments and the current loan status is shown in the client’s personal account. The client can make monthly payments using the service of the Cereal partner - a financial institution operating in the region of loan issue. After full loan repayment, the deposit is returned to the client’s wallet.
Best,
CT.
This name makes me hungry for a reason.. :O
I start my day with Cereal too Best
CT
Between how will be the loan amount and monthly payments be tracked?
Hi, After the client transfers his assets to Cereal as deposit, we transfer the fiat money to the client’s account. Information about monthly payments and the current loan status is shown in the client’s personal account. The client can make monthly payments using the service of the Cereal partner - a financial institution operating in the region of loan issue. After full loan repayment, the deposit is returned to the client’s wallet.
Best,
CT.
I see that users will be able to get fiat money by depositing crypto assets. So what can Cereal tokens be used for ?
It's actually you can get fiat money or else you can purchase mining equipments directly. Many miners will find it very resonable. Cereal provides loans in fiat that allows their clients to get cash for daily expenses, using their crypto as collateral. Once the loan is repaid, Cereal return the collateral.
Dear community!
We’ve decided to postpone our ICO date to autumn. In the following months, we will focus on product development and the growth of the community. We believe that this decision is in best interest of our community and early adopters of product.
With new updates of our roadmap we will have more time to improve the traction of public release of our platform. We will continue to keep you informed with all our updates. You can always contact the team via Telegram or email.
For bounty campaign we make a pause, it means we not close it at all, but just stop for a period before new ICO dates will be announced. All stakes are kept for approved participants and will be increased by 30%. You can find your additional stakes in the Bonus column in the allied spreadsheet. All calculations will be updated by the end of the current week.
Keep in touch and wait for news from bounty management team.
Best, Cereal Team.
We’ve decided to postpone our ICO date to autumn. In the following months, we will focus on product development and the growth of the community. We believe that this decision is in best interest of our community and early adopters of product.
With new updates of our roadmap we will have more time to improve the traction of public release of our platform. We will continue to keep you informed with all our updates. You can always contact the team via Telegram or email.
For bounty campaign we make a pause, it means we not close it at all, but just stop for a period before new ICO dates will be announced. All stakes are kept for approved participants and will be increased by 30%. You can find your additional stakes in the Bonus column in the allied spreadsheet. All calculations will be updated by the end of the current week.
Keep in touch and wait for news from bounty management team.
Best, Cereal Team.
What am I reading?
Installment loans for mining equipments??
While there is always such volatility in value of crypto currencies how will this work without a fixed price?
Installment loans for mining equipments??
While there is always such volatility in value of crypto currencies how will this work without a fixed price?
That's a fact! The market is never durable, so just within a matter of the second price may change. They have few options in case the assest value drops, although in case of increment i'm not sure if they have added the option to withdraw the extra.
Raised by artificial HYIP Care!
I saw a similiar project but with Honey instead of cereals...i'm curious how it will work out. Did you have any presale? some big investors?
How can i borrow loans using my assests? Will i get money in terms of the currency i use or other currency?
HI!
Hello there. Cereal offers affordable loan options in the client’s region. Loans will be available in the currency of the client’s country, as well as in the international reserve currencies, depending on the conditions of national regulation of foreign currencies.
Best,
CT.
Even if it's not available in client's county basis it's still valuable. We can easily exchange our money from different platforms or exchanges, only might have to spend a few bucks for exchanging. In terms of International Currency, i think US Dollar will be the best option to go through.
Cereal will provide fiat to customers based upon the security of their cryptoassets. So, in case the mortgaged cryptocurrency value increases, won't the debt amount change or not?
If the amount of debt is nominated in units of a particular cryptocurrency-why should it change? If under the terms of the contract the crypto asset is sold and the debt is nominated in fiat, then there is no reason to change either.
Cereal will provide fiat to customers based upon the security of their cryptoassets. So, in case the mortgaged cryptocurrency value increases, won't the debt amount change or not?
What are the challenges on the cryptolending market? There are some other companies that provides a loan based on assets too.
On the forum I faced a couple of similar projects. But it similar only on the first sight.
For instance - SALTlending and Unchained Capital works of the same basis but i think Cereal has some more advantages or else making a new project makes no sense at all. Centralized loans secured by cryptoassets. This loan type is similar to the model of lending to institutional financial companies, companies with this model earn on interest rates from the loan.
But the main difference of Cereal is: - they intend to give loans for your miners as collateral.
What are the challenges on the cryptolending market? There are some other companies that provides a loan based on assets too.
Read WP - they described a lot in the document.
If i am right at the moment, there are services offering an opportunity to obtain a loan in fiat in the equivalent of up to 50% of the market value of its cryptoasset. The main advantage of this type of deposit lending for the borrower is the possibility of obtaining fiat and the retention of investment position.
What is the maximum amount of loan can i take from Cereal?
And is it possible to take multiple loans within a year if i hold the amount of assests to pay for it?
I think the minimum is $10k and the maximum amount is 1 mln, depends on size of CRL token volume you own. The more you obtain, the more benefits you can get from it.And is it possible to take multiple loans within a year if i hold the amount of assests to pay for it?
$ 10k is a big amount. You want to work with clients who have a lot of crypto currency.
Will you enter into partnership with other crypto-currency projects? (except for the GigaWatt)
Thank you for the question.
Yes, we plan to make new partnerships in different regions.
Best,
Cereal Team.
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