Topic: [ANN] [ICO] CEREAL - BLOCKCHAIN ECOSYSTEM FOR ASSET-BASED LOANS - page 11. (Read 1334 times)
I like the idea of the loan based on cryptos, but if the market in it's down trand and my bitcoin loses the value or i can’t repay my loan? I mean, do I lose all my crypto in this case?
Hey, what about crypto assets to be pay back, can I pay back my loan in crypto?
Thanks for your question.
If you take a loan in fiat money secured by ETH or BTC you should pay back in fiat money. If you use BTC as collateral to take a loan in EUR, you will make monthly payments also in EUR.
In case if you buy mining equipment by installment you can make monthly payments both in fiat and using your mined cryptocurrency.
Cereal does not provide loans in cryptocurrency secured by other cryptoassets because of the high volatility of the market and the difference in rates. At the current level of the cryptocurrency market this product carries high risks for both the lender and the borrower. In the future, if crypto-market has some reliable cryptocurrencies with a stable exchange rate, which can be easily converted into fiat or used to pay for goods and services, Cereal will consider a new credit product in cryptocurrency.
Best,
CT
Will you be providing more information about your team members such as LinkedIn, Facebook, or Twitter profiles?
Thank for your interest in our project.
You don't see Team's profiles only because of the restrictions of our forum rank - It will be fixed ASAP and you get access to all required information.
Best,
CT
Hello, the system will be built on a dividend basis or it will be only the holder of the asset, will there be any percentage for the retention?
Hi! I saw in your white paper that the ICO was due on May 25, what happened? Why can't I still buy your tokens?
Thanks for the question.
We’ve decided to postpone our ICO date to the mid of summer after the first release of our product. As you know from White Paper this summer, some of GigaWatt customers will already have opportunity to purchase mining equipment by instalment. We will share with you every single detail about the first release of product.
Now our team is working hard on the product. It is important for us to be transparent and to show the evolution of our project! The exact date of ICO will be announced next week.
Best,
CT
Will you be providing more information about your team members such as LinkedIn, Facebook, or Twitter profiles?
It would be a good idea to list this on ICOBench too if you haven't submitted it already
It would be a good idea to list this on ICOBench too if you haven't submitted it already
Hey, what about crypto assets to be pay back, can I pay back my loan in crypto?
Hi! I saw in your white paper that the ICO was due on May 25, what happened? Why can't I still buy your tokens?
Hi! Saw you guys at the conference in Dubai, I did not win a prize but still use your phone cable;) then I forgot to ask about your business model. If you do not have a p2p model, how are you going to raise money for loans?
Thanks for the question.
Great to hear, next time you will be lucky! Our platform provides an opportunity to qualified investors to invest their money into our loan products. Investors can get a high interest income compared with traditional debt instruments like government bonds, stocks and other security or different pools of mortgage loans, etc. Debt investments at the Cereal platform are secured by highly liquid cryptoassets. The investments attracted will be aggregated on the Cereal platform and used to issue a large number of different loan products, which will ensure diversification of investments and will also reduce risks for investors.
Best,
CT
Hi! Saw you guys at the conference in Dubai, I did not win a prize but still use your phone cable;) then I forgot to ask about your business model. If you do not have a p2p model, how are you going to raise money for loans?
Blockchain ecosystem for asset-based loans
What is CEREAL?
Cereal is a platform offering credit products that are secured by customers’ mining equipment, cryptocurrencies and other blockchain assets.
Thanks to Cereal there’s no need for borrowers to sell their valuable blockchain assets in order to access fiat money. Instead they can secure their cryptoassets as collateral, in order to receive cash for the purpose of covering their business and living expenses.
Cereal will store its customers’ collateral in cold wallets, thus ensuring a high level of security and preventing bad actors from gaining access to the borrower’s assets.
Cereal’s has automated solutions for calculating the maximum loan that customers are eligible for, and doesn’t need to check client’s credit scores. This makes Cereal incredibly convenient and hassle-free for borrowers.
The problem we solve
Credit products have always been a driver of a market’s growth. They facilitate faster rates of expansion for businesses which, at scale, contributes to improved standards of living for consumers. In the cryptocurrency market however, credit instruments are almost non-existent. Market participants do not have access to convenient credit solutions which could enhance their business development - this is slowing down the growth of the infrastructure within the industry.
Cereal’s credit solutions solve this problem. The subsequent improvements to the cryptocurrency market infrastructure will increase the pace of development within it, and help it to reach its potential.
Partnership with GigaWatt
To allow customers to borrow fiat money secured against mining equipment, Cereal has partnered with GigaWatt - one of the largest mining facilities in the US. This partnership will help those customers who want to get into cryptocurrency mining but don't have sufficient fiat assets to pay for mining equipment. These customers can access loans secured against the mining equipment they purchase, thus reducing the amount of fiat required to get involved. The mining equipment will serve as a collateral and will be located at the GigaWatt hosting facilities, earning money for them throughout the repayment period and beyond. This service is planned to start in July 2018.
These outcomes demonstrate that purchasing two miners in installments is much more beneficial. From the first month, investors receive a steady net revenue that is higher than in the case with personal funding. After the loan is repaid by the end of the first year, customers start receiving the full income generated by their mining equipment.
Cereal Ecosystem
Cereal unites all parties to make them benefit from our product:
Borrowers have access to fiat money
Financial companies benefit from better credit fees or interest income by providing loans in partnership Cereal
Investors get a new instrument to allocate resources
Merchants be able to find new customers by selling products on our platform
Our ecosystem is a mediator between the traditional fiat market and the young cryptocurrency market. The exponential growth of the cryptoasset market attracts new big corporate players and smart money.
Distribution of tokens
| Token Sale: | 62% |
| Team: | 10% |
| Advisors: | 5% |
| Reserve: | 20% |
| Bounty: | 3% |
| TOTAL: | 100% |
Team
Contacts
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