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61  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 29, 2017, 03:59:20 PM
Pre-ICO is over. We are very grateful to all participants! Please stay in touch! We will tell you about the results very soon!
62  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 29, 2017, 01:42:45 PM
Only a few minutes left until Pre-ICO end! Don't Miss Out!
63  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 28, 2017, 09:39:34 PM
Pre-ICO Ends in Few Hours! Join Now: https://tokensale.coinloan.io/
64  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 28, 2017, 05:04:46 PM
Great news! We added three languages ​​to our website: French, Chinese and Arabic!
65  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 27, 2017, 03:05:01 PM
What major problems were identified by your team in interaction between fiat and virtual currencies when studying them? How do you plan to solve these problems with help of CoinLoan?



Selling virtual currency used to be the only affordable solution when there was a need for fiat money. This led to a loss of possible revenue from the further appreciation of cryptocurrency and additional costs: financial, associated with fees on exchanges, and temporal – from the moment of cryptoasset sale to the actual receipt of fiat 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.
66  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 27, 2017, 07:04:59 AM
How many days will it take to deliver a plastic card to the customer?


It will depend on the destination country and shipping method chosen.
67  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 26, 2017, 04:14:53 PM
Hi, do you need to pay interest on the loan with fiat means or can you use crypto-currency for this?

As you wish. You can use fiat or crypto, which will be converted by current market rate into fiat.
68  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 26, 2017, 02:22:42 PM
Will the possibility of ordering plastic cards supporting Apple Pay and Samsung Pay appear immediately after the launch of the CoinLoan project or after some time?

We will do our best to make debit cards with Apple/Samsung Pay available as soon as possible.
69  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 26, 2017, 01:20:14 PM
Why did you decide to choose ICO-investment rather than the usual venture option for raising funds for development of the project?

We preferred the ICO crowdfunding to a traditional venture system in our project implementation. Firstly, it will allow anyone who feels like it to become a contributor and profit from the tokens appreciation in the future or pay the fees to the platform in them. Secondly, it will accelerate the funding process and the launch of CoinLoan, and thirdly, the ICO is a transparent, modern method of fundraising.
70  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 26, 2017, 09:55:28 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?

There will be no rating system on our platform. You can don't repay a loan, it's not a problem, but your crypto-collateral will be sold.
71  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 26, 2017, 09:43:47 AM
as in, trade fiat for crypto and hold crypto as collateral?

Please, clarify your question. You can provide loans as a lender in fiat only. Crypto you can use as collateral for borrowing.
72  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 26, 2017, 09:28:30 AM
Aren’t you afraid to face the problem of lack of balance of supply and demand in the service? What will happen if the demand for loans is high and the supply is small?

Institutional investors can cover any demand. They will be very interested in such service because we guarantee full repayment of funds with accrued interest.
73  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 26, 2017, 09:11:20 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?

No, it's not possible. As a lender, you even can't distinguish whom you are providing a loan.
74  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 26, 2017, 08:55:49 AM
Good afternoon! If I want to take a loan from CoinLoan do I need to specify the information about the purpose of  borrowing fiat funds?

Hi! No, you don't need to specify any info about borrowing purposes.
75  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 26, 2017, 07:53:37 AM
Will I be able to borrow money from CoinLoan in the future leaving CLT as collateral if I buy tokens during the ICO?


Yes, sure, it's possible. You will be able to borrow a loan secured by CLT without any fees from the platform.
76  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 25, 2017, 06:34:51 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.
77  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral on: October 25, 2017, 05:45:08 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%
78  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 25, 2017, 11:33:48 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
79  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 25, 2017, 10:43:03 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.
80  Alternate cryptocurrencies / Announcements (Altcoins) / Re: 🔥[ANN][Pre-ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥 on: October 25, 2017, 10:25:50 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.
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