Topic: COINLOAN (CLT) - Loans Secured by CryptoAssets (Read 273 times)

is there lending program dev?

I entered this ico early dec hoping for the ico to go live in Jan.. now it’s Jan, ETH took off, I could have gotten much more clt coins.. now my funds are stuck

CoinLoan is an innovative project that combined traditional lending banking system and modern cryptocurrency technology. Our team has studied the problems of interaction between the fat and virtual currencies. There is an invisible wall between them at frst glance, which cannot be overcome.
Cryptocurrencies – Bitcoin, Ethereum and similar – are increasingly attracting attention due to their rapid growth and stability. But a person often needs fat money that is more convenient for settlements.

Selling virtual currency used to be the only affordable solution when there was a need for fat money.
This led to a loss of possible revenue from further appreciation of cryptocurrency and additional costs: fnancial, associated with fees on exchanges, and temporal – from the moment of cryptoasset sale to the actual receipt of fat money.

CoinLoan offers a different approach: our users will be able to receive real money in any available currency secured by cryptoassets. The system will select the most suitable option for the borrower from the set of counteroffers for lending.

We are convinced that time is the greatest value in the modern world. This is why the CoinLoan system will be fully automated. Loans will be issued without verifcation of the borrower’s solvency, without processing applications by the lending center and other formalities peculiar to the traditional banking system. The user will receive fat money almost instantly.

There will be no strict division of users into lenders and borrowers in our system – it is not two different poles for us. A borrower can become a lender, and a lender can become a borrower at any time. This will secure flexibility and loyalty of the system.

We preferred the ICO investment to a traditional venture system in our project implementation. Firstly, it will allow anyone who feels like it to become a contributor and pay the service platform fees in CLT. Secondly, it will accelerate the funding process and the launch of CoinLoan, and thirdly, the ICO is a
transparent, modern method of fund-raising.

Coinloan is an innovative technological project, the activities of which will have no territorial restrictions. The system will be launched in the countries of Europe and the CIS, and the coverage of the countries will expand along with the development progress. CoinLoan will operate as a legal payment institution, licensed in Europe.

The platform will work with large and small loans. The minimum loan amount will be 50 USD. This will attract not only legal entities but also individuals to the platform. The time for which a loan can be issued is not defned. Borrowers and lenders determine the optimal duration of the deal for themselves – from 1 day to 60 months (5 years). Such a flexible approach will ensure the convenience and interest of users.

Lenders and borrowers determine the best interest rate for themselves. To keep lending within the existing market conditions, the CoinLoan system will calculate the recommended values of interest rates, which will be lower than in any other lending institutions. More loyal terms will be achieved
due to the absence of costs associated with collateral property and competition between lenders.

The system will be fully automated: orders will match and execute instantaneously. The borrower canwithdraw the received funds in any convenient way – SWIFT, SEPA, instant transfer to a bank card (Visa Money Transfer and MasterCard MoneySend).

HOW DOES IT WORK?

Steps for the borrower
1. Deposit cryptoasset as a collateral.
2. Indicate the length and rate you wish: the platform will match you with best offer from a peer.
3. Immediately get a loan in fiat up to 70% of the market value of the deposit (to allow for volatility), without the need for background check.
4. Repay the loan and interest.
5. Get your cryptoasset back in full

Steps for the lender
1. Deposit your fiat.
2. Indicate the length and rate you wish: the platform will match you with best offer from a peer.
3. You can sleep without a worry: your funds are guaranteed by the cryptoasset the borrower deposited.
4. Get your money back, including the interest.

WHAT IS THE BUSINESS MODEL?
In exchange for matching users bids and offers, guaranteeing cryptoassets and fiat funds, and paying the lender in case of default, the fees associated with using the platform will be:

Lender side:
10% of their income (i.e. accrued interest)
This fee will be payable in coinloan tokens
CLT) at the rate of 1 CLT = $10 or 1 CLT = market price if CLT is traded > $10.

Borrower side:
1 CLT for borrowing $10,000 for one month.
At the rate of 1 CLT = $10, this means 0.1% per month, and this rate would be much cheaper for pre-sale and ICO participants