Topic: 🔥[ANN][ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 - page 8. (Read 9914 times)
October 26, 2017, 03:38:32 AM
Hello. Will I be able to refuse to work with a borrower proposed by the system if he does not suit me for some reason and start looking for a new one?
October 26, 2017, 02:52:16 AM
If I just want to exchange crypto-currencies for fiat funds and issue a loan for this and then do not return it, will my rating in the system be lowered? If so, how will this affect my further opportunities in the system?
October 26, 2017, 01:22:15 AM
Will I be able to borrow money from CoinLoan in the future leaving CLT as collateral if I buy tokens during the ICO?
October 25, 2017, 02:34:51 PM
Hi, will I have to use only your tokens for calculation inside the service? Can’t I use any other crypto currency or fiat funds?
If you mean paying platform fees, then yes. You can use the only token from the borrower's side for paying fees.
October 25, 2017, 01:45:08 PM
Hello. Will the borrower have to deposit the cryptocurrency the value of which is equal to amount of the loan in order to obtain that very loan in the form of fiat funds?
Hi! The borrower can borrow a loan in the amount from 10% till 70% of the current market value (LTV).
It seems unrealistic though that someone would consider borrowing at 10% of the actual market value. But who knows, maybe there is a market even for that spectrum.
The borrower can choose the LTV himself/herself. S/he can select 70%, s/he does not have to select 10% LTV.
Yes I understand that part. But the collateral rate is probably a function of the liquidity and volatility of the underlying asset and of the requested time-window. I am just asking now: do you see any scenario where one party has sufficient incentive to cheat and how are you going to come up with a solution for that? This is just a question what kind of scenarios your team identified where some trouble could arise.
What do you mean by "cheat"? How can this be possible?
For example if you borrow money at 50% the market rate. Let's assume you borrow $2500 and provide 1 BTC collateral. What happens if BTC drops below $2500 and the borrower would have an incentive to not repay the loan but instead get more BTC for the money she borrowed? Is that a possible scenario?
Excerpt from the White Paper:
What to do if the Bitcoin price drops to 3,200 USD and the value of the pledged asset amounts to 80,000 USD
1. Repay the entire loan amount of 70,000 USD + % and get 25 BTC back.
2. Replenish the collateral with the cryptoasset in the amount of 6.125 BTC to restore the ratio of the loan amount and the value of the collateral (LTV) to 70%.
3. Repay part of the loan in the amount of 14,000 USD to reduce the loan principal and restore the ratio of the loan amount and the value of the collateral (LTV) to 70%.
4. Repay the loan in full through selling part of the collateral. In this case, the system will sell about 22 BTC, and the balance of 3 BTC will be available for withdrawal.
5. Do nothing. If the collateral value drops to 75% (the BTC rate drops to 3,000 USD), then part of the collateral required for restoring the 70% ratio will be automatically liquidated, and the loan amount and interest will be returned to the lender.* In our example, the sale of 19.45 BTC for 58,350 USD will be initiated. After the sale, the loan balance will amount to 11,650 USD, it will be secured by 5.2 BTC at a price of 3,000 USD (the total value is 16,650 USD) and equal to 70% of the loan-to-value ratio. This process will be repeated if the market value of the collateral (BTC) drops to 2,250 USD.
* Depending on the market situation, the sale process will be initiated from 71 to 75%
October 25, 2017, 09:35:11 AM
Hello. Will the borrower have to deposit the cryptocurrency the value of which is equal to amount of the loan in order to obtain that very loan in the form of fiat funds?
Hi! The borrower can borrow a loan in the amount from 10% till 70% of the current market value (LTV).
It seems unrealistic though that someone would consider borrowing at 10% of the actual market value. But who knows, maybe there is a market even for that spectrum.
The borrower can choose the LTV himself/herself. S/he can select 70%, s/he does not have to select 10% LTV.
Yes I understand that part. But the collateral rate is probably a function of the liquidity and volatility of the underlying asset and of the requested time-window. I am just asking now: do you see any scenario where one party has sufficient incentive to cheat and how are you going to come up with a solution for that? This is just a question what kind of scenarios your team identified where some trouble could arise.
What do you mean by "cheat"? How can this be possible?
For example if you borrow money at 50% the market rate. Let's assume you borrow $2500 and provide 1 BTC collateral. What happens if BTC drops below $2500 and the borrower would have an incentive to not repay the loan but instead get more BTC for the money she borrowed? Is that a possible scenario?
October 25, 2017, 08:31:01 AM
Hi, will I have to use only your tokens for calculation inside the service? Can’t I use any other crypto currency or fiat funds?
October 25, 2017, 07:33:48 AM
Why will the cost of CLT tokens vary in price from 2 to 8 dollars during the ICO?
Because we have such model of the price increase at ICO:
$2 — 5M CLT
$3 — 5M CLT
$4.5 — 5M CLT
$6.75 — 5M CLT
$8 — 5M CLT
October 25, 2017, 06:43:03 AM
What marketing strategy will you use to attract users to work with CoinLoan?
We are hiring now for good marketing experts for our team.
October 25, 2017, 06:39:36 AM
Why will the cost of CLT tokens vary in price from 2 to 8 dollars during the ICO?
October 25, 2017, 06:25:50 AM
Do you plan to work with large financial institutions? How will your credit instruments be integrated into their operations?
Yes, sure! We also plan to provide an API for the financial institutions, so they will be able to integrate our platform into their system.
October 25, 2017, 06:16:29 AM
What marketing strategy will you use to attract users to work with CoinLoan?
October 25, 2017, 06:03:20 AM
What kind of licenses do you need to get and how much money will it take to get a work permit in Asia?
We want to obtain EMI license in Europe.
October 25, 2017, 05:52:47 AM
Do you plan to work with large financial institutions? How will your credit instruments be integrated into their operations?
October 25, 2017, 05:32:51 AM
Seems like a very interesting concept, however i have my questions.
How will the tokens distributed to the ICO participants be useful to users in the actual system? I mean it can be used for collateral sure, but how does it actually have value? What is it backed by? Does it hold a claim on all profits made by the system?
Otherwise, looks promising!
How will the tokens distributed to the ICO participants be useful to users in the actual system? I mean it can be used for collateral sure, but how does it actually have value? What is it backed by? Does it hold a claim on all profits made by the system?
Otherwise, looks promising!
Demand for CLT is generated in 2 ways on the platform: from the lender’s side and from the borrower’s side.
First, let’s look at the lenders. They will be charged 10% of their income (i.e. accrued interests). Here’s an example: let’s assume that the lender has provided a $10,000 loan at 15% and gained $1,500 as interest.
These $1,500 will be charged a 10% platform fee, i.e. $150 (a low fee for the full safety of funds).
Lenders will be able to choose how to pay this fee. They can pay $150 in fiat or 15 CLT, where 1 CLT = $10. As explained earlier, 1 CLT >= $10, therefore, it will more profitable for lenders to pay the platform fee in tokens.
Note: The fee will be 10 times lower for Pre-ICO participants who have bought tokens at $1.
Let’s now look at borrower’s side. Borrowers will have to pay a fee in CLT. Unlike lenders, they cannot choose to pay in fiat. This fee will depend on the loan amount and determine by the following formula: 1 CLT for $10,000 (i.e. 10 CLT for $100K loan and 0.1 CLT for $1,000 loan, etc.).
October 25, 2017, 05:29:33 AM
Seems like a very interesting concept, however i have my questions.
How will the tokens distributed to the ICO participants be useful to users in the actual system? I mean it can be used for collateral sure, but how does it actually have value? What is it backed by? Does it hold a claim on all profits made by the system?
Otherwise, looks promising!
How will the tokens distributed to the ICO participants be useful to users in the actual system? I mean it can be used for collateral sure, but how does it actually have value? What is it backed by? Does it hold a claim on all profits made by the system?
Otherwise, looks promising!
October 25, 2017, 05:22:17 AM
What kind of licenses do you need to get and how much money will it take to get a work permit in Asia?
October 25, 2017, 05:10:27 AM
Hello. How long does CoinLoan service take out a loan and issue fiat funds?
October 25, 2017, 04:13:46 AM
Does the lender have a right to set the interest rate above or below the recommended by CoinLoan system?
Yes, sure. It's only a recommendation.
October 25, 2017, 04:13:01 AM
Does the lender have a right to set the interest rate above or below the recommended by CoinLoan system?
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