[ANN] [ICO] CEREAL - BLOCKCHAIN ECOSYSTEM FOR ASSET-BASED LOANS - page 5.

Cereal Team

copper member

Activity: 70

Merit: 0

Quote from: FaizRafeek78 on July 16, 2018, 02:38:43 PM

I heard that you will be supporting Btc and eth at first,BTC and ETH is good,since it is stable,upto an extent!
how many currecies are you planning to add on to the platform,in the future?

This information will be announced later, after the platform is launched. It is planned to use a wide range of crypto assets. Stay tuned.

Best,
Cereal Team.

Cereal Team

copper member

Activity: 70

Merit: 0

Quote from: Bezuprechnyj on July 16, 2018, 10:39:48 AM

Hello, comrades. As stated in the white paper "In the future some other cryptocurrencies (not Bitcoin and Ethereum only) will be considered as deposit assets, as well as, possibly, other assets that can act as liquid deposit". On the basis of what indicators will you select cryptocurrencies are able to act as security for the loan, and what do you mean by "other assets"?

At first since the Cereal platform is released, we will consider BTC, ETH and mining equipment as collateral. Later we will expand the list of cryptocurrencies that can be used as collateral.

Cereal Team

copper member

Activity: 70

Merit: 0

Quote from: did1 on July 15, 2018, 01:33:06 PM

I looked through WhitePaper and did not see any figures on the interest for which they are going to issue loans.

The interest rate is not fixed and will depend on a number of factors: the amount of the mortgage, the term of the loan and the country in which the loan is issued, the exact figures will be known after the final agreement with the partners. For details, you can contact the team directly via telegram https://t.me/cerealico, there they are actively discussing these issues.

Quote

And how is the success of the partner GigaWatt - they dealt with all their problems? And then I had their tokens, only the terms of construction and start-up of equipment mining were shifted.

We don't discuss any of our partners here. Please, ask your request for the Giga Watt support.

Best,
Cereal Team.

omar hashim

jr. member

Activity: 266

Merit: 1

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.

FaizRafeek78

newbie

Activity: 62

Merit: 0

I heard that you will be supporting Btc and eth at first,BTC and ETH is good,since it is stable,upto an extent!
how many currecies are you planning to add on to the platform,in the future?

Bezuprechnyj

newbie

Activity: 196

Merit: 0

Hello, comrades. As stated in the white paper "In the future some other cryptocurrencies (not Bitcoin and Ethereum only) will be considered as deposit assets, as well as, possibly, other assets that can act as liquid deposit". On the basis of what indicators will you select cryptocurrencies are able to act as security for the loan, and what do you mean by "other assets"?

Cereal Team

copper member

Activity: 70

Merit: 0

Quote from: Kriptopsina on July 16, 2018, 02:43:07 AM

What are your plans for the near future? What steps are you planning?

Thank you for the interest in our project.

As of right now we are planning to launch a credit product with Gigawatt for buying miners in installments. Later on we’ll be focused only on crypto-backed loans and introduce our product first for BTC and ETH.

Best,
Cereal Team.

Cereal Team

copper member

Activity: 70

Merit: 0

Quote from: darkie199 on July 16, 2018, 02:58:46 AM

In case if a customer fails to pay the % or monthly instalment for loan how will it be encounted ? How long is the termination period?

Thanks for your question.

In case if a customer can’t repay the loan in fiat he can make a request to Cereal to sell part of the deposit at the market price in the equivalent of the debt. If the collateral value drops by Cereal level, we send customer a warning that the deposit funds are insufficient. In this case customer can:
- Increase deposit to the level required;
- Pay off a part of the debt to comply with the deposit amount or repay the debt in full;
- If the first two actions are not possible, customer can sell part of the assets in the equivalent of the remaining debt.

Best,
Cereal Team.

Cereal Team

copper member

Activity: 70

Merit: 0

Good day everyone! Our team has visited 6 cities in China for 12 days - Wuhan, Changsha, Guangzhou, Chongqin, Wenzhou, Ningbo. We've prepared an article in Medium about the roadshow! Check it out for more details! https://medium.com/@cerealfinance/cereals-road-show-in-china-679261bfc707

darkie199

jr. member

Activity: 294

Merit: 9

In case if a customer fails to pay the % or monthly instalment for loan how will it be encounted ? How long is the termination period?

Kriptopsina

full member

Activity: 462

Merit: 145

What are your plans for the near future? What steps are you planning?

did1

member

Activity: 109

Merit: 10

OPEN GAMING PLATFORM

I looked through WhitePaper and did not see any figures on the interest for which they are going to issue loans.

And how is the success of the partner GigaWatt - they dealt with all their problems? And then I had their tokens, only the terms of construction and start-up of equipment mining were shifted.

Dolphin_se

member

Activity: 616

Merit: 13

Harmony for One and All

Russian ANN thread is live: https://bitcointalksearch.org/topic/ann-ico-cereal-1090-4656788

Cereal Team

copper member

Activity: 70

Merit: 0

Quote from: Evelyn Abramson on July 09, 2018, 08:04:14 AM

Hi. How many tokens will be issued?

Hello Evelyn . The exact number of created CRL tokens will depend on the amount of funds collected during
the token sale .

Best
CT

Evelyn Abramson

newbie

Activity: 34

Merit: 0

Hi. How many tokens will be issued?

stas

sr. member

Activity: 420

Merit: 250

Quote from: Cereal Team on June 27, 2018, 04:55:46 AM

Quote from: stas on June 26, 2018, 11:40:00 AM

Quote from: Cereal Team on June 26, 2018, 07:44:29 AM

Quote from: stas on June 25, 2018, 07:44:09 AM

Quote from: Cereal Team on June 22, 2018, 08:45:05 AM

Quote from: stas on June 19, 2018, 01:04:40 PM

How does it work for cryptocurrency mining equipment as equipment? You don't really physically transfer it or do you?

Hello Stas and thank's for the question ! Mining equipment is used as collateral during the repayment period of installments and physically remains in GigaWatt and is also served there. The income from mining repays installments, after repayment you can do whatever you want - pick up your miner or leave it there .

Best
CT

Ah I see so you remain in the possession of the mining equipment. I essentially buy it from you but you keep it as collateral?

After the purchase of the miner took place, it belongs to the client, but during the installment payment period, it remains as a pledge in GigaWatt. After the repayment, client can do whatever he wants with the miner.

Best
CT

Sure got it. If the miner decides to receive it you are going to send it to him, but could he also decide to sell it? Will you have something like a small marketplace maybe?

At the first stage of the product launch, we will not have a public marketplace for customers who want to sell their miners, but we are considering such a possibility in the future.

Best
CT

Would make sense as it provides anyone with a more fungible underlying and may therefore be an even better investment opportunity.

Cereal Team

copper member

Activity: 70

Merit: 0

Quote from: mini max on July 09, 2018, 07:04:28 AM

Why should your business model / enterprise be decentralized?

Hi! Our business model is not decentralized. We create convenient credit products for crypto asset owners. Blockchain is a part of our ecosystem, because the collateral in the loan is a crypto asset.

Best
CT

mini max

newbie

Activity: 43

Merit: 0

Why should your business model / enterprise be decentralized?

Cereal Team

copper member

Activity: 70

Merit: 0

OUR bounty campaign is full released since today!
Visit bounty thread and you can find a lot of ways to get CRL tokens for your support of us
https://bitcointalk.org/index.php?topic=4616911.new#new

Best
CT

Cereal Team

copper member

Activity: 70

Merit: 0

Quote from: graxoff on July 04, 2018, 12:45:44 PM

How do you know which customer is suitable for a loan?

Any owner of cryptoassets which are accepted as deposit can get a loan in fiat. 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. But we comply with all the conditions of KYC and AML, that’s why every client applying for a loan passes preliminary identification.

Best
CT

Topic: [ANN] [ICO] CEREAL - BLOCKCHAIN ECOSYSTEM FOR ASSET-BASED LOANS - page 5. (Read 1334 times)