SALT Community Membership

[OMGimbroke]

They have adressed a response regarding the article that came out; https://medium.com/@ArrogantPeacock/the-salt-lending-presale-explained-1c18a58df24f


Directly posted from telegram:

Hello SALT Community,
 
We’d like to take a moment to respond to questions regarding the earliest Members to join our platform.
 
All SALT Membership discounts are intended to foster network adoption and to create an environment for direct feedback as we improve the SALT Lending Platform experience. The earliest Membership discounts were sold to individuals who either directly approached us or engaged with us in some capacity to help us continue to build out the product. This has also served as an excellent means to build our brand, create a loyal borrower base, and solidify lender commitments. At no time were any Memberships given away for free to anyone, including founders and management.
 
Approximately 35 million SALT Memberships were sold at $0.25 and 5 million SALT Memberships were sold at $0.75.
 
SALT’s growth has been a direct result of a discounted product strategy, and we will continue to strive to provide our Members the best possible products at the lowest possible price. We sincerely hope that this update has added value to your understanding of the SALT project and provided insight into the decision making of the SALT leadership. 
 
If you have any questions or would like to discuss this matter further, please feel free to reach out to us at Community.Director@SaltLending.com
 
Sincerely,
 
SALT Team


I expect a massive dump from the early holders when this hits the exchanges. Pretty scammy if you ask me that they offer a "discount" for "only" 3$ or more. I'm out.

[btcdee]

If successful this could be truly disruptive to our banking system, more so then other projects in this space. Could this be the ONE?

[dc81]

Very interesting and exciting project. I look forward to getting a loan on collateral crypto. Good luck team

[bittraffic]

Not something that an investor would try to put money into due to potential scam. Who are the advisors of this project?  If the offer stands still for $3, this could really be one hell of a massive dump just as the user above said. Its not going to be a happy ending for us here.

[HEROinME]

SALT model is interesting but not exactly innovative, nonetheless a project worth exploring. I am addressing the business aspect of the project and not the technology stack.

SALT is basically matching borrowers and lenders:
-borrowers must have collaterals (aka crypto-currencies)
-the lender must be Accredited Investor or a corporate entity which fulfill certain conditions (unclear, but I would assume A.I criteria)
-both borrower and lender must be a member of S.A.L.T platform

What I don't understand is how a token holder or an investor in the ICO (aka membership sale) is going to benefit from the token.
-when you purchase SALT, you are automatically a member (lowest tier), i.e. 1 SALT token will be consumed per year, if there are 5000 participants of the ICO, that's 5000 token consumed before business even starts.
-SALT tokens can be used by borrowers to lower the interest rate or Annual Percentage Rate (APR) as SALT calls it. what's the actual" exchange rate"?
-SALT plans to raise approx $30mil and they aligns themselves with the "hodl" ethos of the crypto community, i.e. they will borrower against their own balance sheet. So why raise $30mil? Where is the money going to be spent on?
-2% of the total sales proceeds with be set aside for SALT Financial Inclusion Initiative for creating "good debt" for the unbanked or result of social exclusion..... meaning? SALT is going to participate as a lender in the platform??

bottomline, i like the idea but i don't get what's the value i am extracting from "purchasing a membership".

I am assuming all the disclaimers and the way this paper is written, specifically caters to howey test and work around SEC regulations.

Oh.... one last thing, KYC, AML is a bitch and i am wondering how they are tackling all these regulations.

[rpjones7]

Ekk! 35 million memberships have been sold for $0.25??
Is this correct?

And we don't expect these people dump the crap out of that when the tokens are selling for $10 for example?

Ok that was the last straw for me coming into this haha. no way!

Good luck everybody, but that is crazy.

[bitwarrior]

Ekk! 35 million memberships have been sold for $0.25??
Is this correct?

And we don't expect these people dump the crap out of that when the tokens are selling for $10 for example?

Ok that was the last straw for me coming into this haha. no way!

Good luck everybody, but that is crazy.

Bitcoin has started with smaller price value than this and guess who has the largest stash? The maker himself and did he dump? Ofcourse not, if the initial holders of this project are strong hands and have seen the great potential of this project, they will not dump, there will be some flippers along the way who would want to make a quick buck as some of what happened on other ICOs, but they will eventually regret it.. this will grow more than 10 bucks each in due time.

Read the whitepaper and see the people who are involve on this Project, for what it seems they have been forth coming on transparency.

[Ale88]

if the initial holders of this project are strong hands and have seen the great potential of this project, they will not dump

It's all about that "if"... I like the project but "if" that happens...

[bitwarrior]

if the initial holders of this project are strong hands and have seen the great potential of this project, they will not dump

It's all about that "if"... I like the project but "if" that happens...

Dude there is no absolute in this world, except birth and death.. in any investment there is risk, so if you are planning to invest just do your own diligence.

[Ale88]

Yeah absolutely, you're right, and I decided to wait, I'll maybe get some once it's on the market because, for me, buying now at $5 doesn't make sense. I've seen too many ICOs getting dumped after they hit the market. But for sure I'll keep following this project.

[kryptoknightk]

"If you are buying SALT worth of $2000 or more, you'll have to provide a government issued ID."

So if you are buying less than that amount, there's no verification needed?

[sylance]

This does look like a very interesting project; one with an actual problem to solve.  I was hoping that individuals could loan out fiat or crypto with the flipped held as collateral but it doesn't look like that's the case.  It's disappointing if only institutions can lend fiat as they'll quash or just downright purchase and absorb the 'company' if it becomes profitable.

[jiggytom]

Leaving my referral link here: https://membership.saltlending.com/register?r=TodWF

Gave a a quick review. It's led by Erik Voorhees, so you know it's under good hands. This is a huge market. This platform pretty much brings crypto holders liquidity at a very low discount and secured by the blockchain. Think cheap loans that you have control over and totally legal. I'm sold.

[dadingsda]

bounty for german translation? pm me!

[s4fcb]

If anyone is interested to buy Salt OTC PM me.

[iandoZ]

Last tier which began on Tuesday, August 15th at 8:00 AM MDT (2:00 PM GMT) and will run until the following tiers are sold out:

2.0 million SALT @ $3 each (sold out)
1.5 million SALT @ $5 each (sold out)
1.0 million SALT @ $7.50 each (currently at 93% left)


Previously in the pre-sale approximately 10 million SALT were sold at $1:50.  Early adopters who assisted with the build out of the concept were also able to purchase earlier in the year approximately 35 million SALT at $0.25 and 5 million SALT at $0.75.

SALT Membership may be purchased with Bitcoin, Ethereum, or any cryptocurrency supported by ShapeShift. There is a Referral program - For each friend you refer that buys thirty (30) SALT Memberships or more, you will receive one (1) bonus SALT Membership.  More details are on the Dashboard.

[gobbi]

This project looks promissing, i just made registration now i have problems with uploading documents: photo id, I don´t know where is the problem it does not say, just something went wrong with your upload. I will try to do it later.. Still I don´t understand salt in details, how much money can you get from lending?Are there any numbers so I can check?

[TheDeepestCoin]

This token and project fulfills a much needed space in the crypto market. As crypto grows, folks will need the ability to use that crypto as collateral. Being first to the plate with the connections to borrowers to make this project work is huge. SALT is a straight-up bargain at ICO price.

Agreed. Seems to be worth to follow.

[HEROinME]

how do you expect SALT's token to appreciate in value considering the amount of pre-sale tokens at $1.50?
I don't see how the token utilities is going to drive the price up? Maybe someone can share why you think this is a great token?

[Blakesss]

The price will go up as folks utilize the SALT network to borrow money. Think about how much money is borrowed each year from credit cards and banks. If over time SALT can gain a share of that borrowing market (this share will rise along with the adoption of crypto currencies), the value of SALT tokens will rise on the back of the loans and inherent interest generated by them. The demand for SALT memberships will also rise as folks look to obtain them to borrow capital.