Priceless!  Good job, keep em coming  |
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Wow, our bounty has grown! Good participation to all of you!
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Hi All, Kind reminder, we are migrating to Telegram (from Slack and Discord) for security reasons --> Join from here: https://t.me/ETHLend |
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What is the profits to use it instead of traditional lendings? Can't recognise.
ETHLend's value added is that when you place a loan request, anyone from any part of the world can fund it. Therefore, the borrower does not need to rely solely on local lenders and banks. Moreover, the lender has the access to a global lending market. |
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Hi All, Kind reminder, we are migrating to Telegram (from Slack and Discord) for security reasons --> Join from here: https://t.me/ETHLend |
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Amazing visual overview, thanks we will share it |
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That demo app you have is quite a good thing, looks good at least.
If things won't get more complicated with the time, it's all good on this one. I'm defo in.
cool, thanks. We are still developing the DApp despite the upcoming pre-sale. |
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Do you think Saltlending as a competitor for you? If not where else you guys are different?
We do get asked this question time to time. However, I do not see Salt as a competition per se since they operate in a different concept. We are focused on p2p crypto lending, whereas Salt helps you to unlock FIAT and we focus on unlocking Crypto from ERC-20 token collaterals. |
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Who will guarantee the repayment of debt?  Because of the collaterals you do not need a guarantee from anyone, the lender would just receive the agreed collateral as compensation in case of default. On another note, ETHLend is also working on international legal enforcement, in that case you don't even necessarily need a collateral. You have a tokenized promissory note, which is simply a universally accepted "I promise to pay you this much". In that case the local law enforcement agency is your guarantee. Sounds perfect but only in the perfect world. Even here with escrows and collaterals, there is little to protect from defaulters. The hassle to get back everything falls on the lender. One more thing... what is this universally accepted IOI? Local law enforcement guarantee? Surely this is some Utopia far from realistic territory! I agree that defaulters are hassle but that is life Lender takes the opportunity to make profit and this is the another side of the coin. Usually default rate correlates interest rates. However, smart contract do make collateral handling quite easy when using ERC-20 compatible tokens. If the borrower defaults, the lender claim the tokens and sells --> regains losses. |
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Hi
I think I have all the blanks, and understand the basic concept of where the value comes from and such .. The only question I have is, if the original tokens held as collateral devalue to less than the amount repayable, and the security is forfeit.. how is the difference recovered to satisfy the transaction ? or is the balance lost ?
Yes, one option is to use haircut but using for example 110% collateral when pledging EOS and 130% when pledging something more volatile. We will going to create tools for assessing the sufficient haircut. Second option that we will develop is collateral calling. For example if the collateral value decreases to a certain point, the collateral can be called and liquidated. |
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IN THE OPENING POST YOU CAN FIND UPDATED PARTICIPANTS LIST UP UNTIL TODAY AS WELL AS CONTRIBUTIONS LIST WITH WEEK 3 ADDED.
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Interesting this project, the current network borrowing use block chain to achieve, but needs the good faith as the foundation, the project should include how to set up a credit on the basis of some services, so that can more effectively protect the safety of borrowing.
We actually have an interesting concept how to create enforceable decentralized loans. We will provide more details within a week. |
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i have joinned slack ETHLend
how to join social media campaign dev ?
Where I can find social media campaign registration form?
Hi! Its on the Opening Thread just below Social Media campaign Just fill in the form and start working and remember to aim for the Hero bounty!  |
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Good projects and many will need such projects, for those who need funds will be greatly helped by the realization of this project
Will probably be a rival of a long-established project that is btcjam
We believe so. I think using blockchain will change lending. |
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