ETHLend – Decentralized Lending on Ethereum NetworkThe first and only decentralized lending application on the Ethereum network.
About Page:
https://ethlend.ioVideo:
https://youtu.be/IGaoqUoL1F4White PaperWhite Paper:
https://github.com/ETHLend/Documentation/blob/master/ETHLendWhitePaper.mdWhat is ETHLend?![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fabout.ethlend.io%2Fwp-content%2Fuploads%2F2017%2F06%2Flanding.png&t=665&c=OwQtcuWvfdnzzA)
ETHLend is a decentralized peer to peer lending application built on top of the Ethereum Network, using blockchain technology to enable secure and transparent lending.
ETHLend is developing a global lending market where borrowers and lenders from all parts of the world can participate in lending. The aim of ETHLend is to provide a transparent and global lending market and to erase interest rate differences between countries by providing more liquidity to local lending markets. ETHLend solves key issues regarding to collaterals, decentralized credit rating and exchange volatility risks, which enables the concept of decentralized lending experience.
The team behind ETHLend consists of 20 people who share the same aim to deliver decentralized lending to everyone. ETHLend differs from most blockchain startups by the fact that the team introduced their alpha release in early May this year. Based on the practical findings, ETHLend provided a detailed White Paper on how decentralized lending might revolutionize the lending industry permanently.
The DApp - Experience Decentralized LendingETHLend DApp is located at
https://app.ethlend.ioYou need to install MetaMask Google Chrome Add-on and set MetaMask to Main Ethereum Network.
For Testing use
https://test.ethlend.io and set MetaMask to Kovan testnet.
Videos on how to use the DApp:
https://www.youtube.com/watch?v=Tb6fzGXADho&list=PLf4N4wF5YKdoJDIe2D_Cg4cXWa-ruMpV5DAPP Thread:
https://bitcointalk.org/index.php?topic=2013399Source code released on GitHub on 1 September 2017 during ETHLend Meetup event.
Technical RoadmapWe consider ETHLend as a long term project. However, to make most of us, concrete deadlines are necessary. Therefore, we shall introduce the following roadmap for technical implementations:
ETHLend Alpha on Ethereum main-net on May 2017 (Milestone achieved)
ENS Domains as collateral on June 2017 (Milestone achieved)
Reputation-based Lending with CRE on July 2017 (Milestone achieved)
Token Sale Smart Contract on August 2017
Security Audit for the Token Sale Smart Contract on September 2017
USD/FIAT Based Loans and Installments December 2017
On-Demand and Crowd Lending (Loan Offers from Lenders) on February 2018
User Experience Upgrade on March 2018
Decentralized Credit Rating (DCR) on March 2018
Penalties for Late Payment on April 2018
Lending Bitcoin on April 2018
LEND accepted as payment with 25% discount on May 2018
Gateway for Decentralized Providers (uPort, Civic) to DCR on May 2018*
Oracles: Centralized feeds to DCR on May 2018*
Second User Experience Upgrade on July 2018
Protocol to enable AI and Big Data to assess Credit Risk on August 2018*
Revenue scheme for AI Credit Risk bot creators on September 2018*
Prediction Market to Assess Credit Risk on October 2018*
Lending Other Altcoins on November 2018*
Protocol to Enable Insurance Policies (with AI bots) on March 2019
Sophisticated collateral control (Calling & Liquidating the collateral) on May 2019
* These milestones are developed if the token sale cap (1 000 000 000 LEND is reached) due to the vast amount of resources these particular milestones require.
Governance RoadmapRoad to decentralization. ETHLend introduces the following roadmap adopting changes, improvements and governance to ETHLend:
White Paper on Decentralized Lending on June 2017 (Milestone achieved)
Incorporating in Hong Kong on August 2017 (Milestone achieved)
LEND Token Pre-Sale on September 2017
LEND Token Sale on November 2017
Relocating to Zug and Swiss Foundation or Swiss LLC on December 2017
LEND Trading on Exchanges on January 2018
Buybacks and Burning for LEND starts on January 2018
Opening Suggestions Venue for Public on October 2018
Creating and Testing Democracy DAO on November 2018
Voting on Suggestions Deployed on January 2019
Vesting for LEND Ends on December 2019
TimelineTimeline of the milestones:
https://about.ethlend.io/timeline/Upcoming Token Sale![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fabout.ethlend.io%2Fwp-content%2Fuploads%2F2017%2F06%2FLEND-Pre-Sale-Announcement.png&t=665&c=Rf5i-HTmRdu6Cg)
While ETHLend is continuing to develop the decentralized application further, the team also revealed details on the upcoming pre token sale. ETHLend introduces LEND token for contributors who are participating in the token sale. The main utility function of LEND is the ability to use it for paying deployment fees on ETHLend with a 25% discount compared to ETH. Additionally, ETHLend shall provide other privileges for LEND token holders based on the community suggestions once the DAPP has grown into a full scale lending market.
The participants in pre-token sale will receive 20% bonus tokens as a reward for early contribution. The funding aim concerning the pre-token sale is 2 000 ETH (6% of total sold token), which will be used for financing further research and development of our decentralized lending application. The purpose of the pre-sale is also to prepare for the upcoming official token sale on the 25 November 2017.
ETHLend pre-sale ICO details:Starting: 25.09.2017 kl. 12.00 GMT
Ending: 25.10.2017 kl. 23.59 GMT or when the cap is reached
AMOUNT TO RAISE: 2 000 ETH
TOKEN FOR SALE: 60 000 000 LEND (6% of total sold tokens)
LEND TOKEN PRICE: 30 000 LEND = 1 ETH
(price includes 20% bonus tokens for all pre-sale participants)
Pre-sold tokens are deducted from the 1 000 000 000 LEND sold on official token sale.
Official ETHLend token sale ICO details:Starting: 25.11.2017 kl. 12.00 GMT
Ending: 9.12.2017 kl. 23.59 GMT or when the cap is reached
AMOUNT TO RAISE: 37 600 ETH
TOKEN FOR SALE: 1 000 000 000 LEND (deducted by pre-sold tokens)
LEND TOKEN PRICE: First 200 000 000 LEND: 27 500 LEND = 1 ETH
(price includes 10% bonus tokens)
Next 100 000 000 LEND: 26 250 LEND = 1 ETH
(price includes 5% bonus tokens)
Remaining LEND: 25 000 LEND = 1 ETH
Buying Unused LEND back - BurnbacksBuybacks are used to remove inefficient and unused LEND from the market to avoid price decrease on LEND and to strengthen the position of the DAPP users.
Buybacks increase the value of LEND by limiting the total supply of the token and by increasing the percentage of the ownership of token holder’s LEND. Buybacks mean that ETHLend will use part of its fees to buy LEND from exchanges and burn these tokens (erasing the tokens forever).
ETHLend derives cash-flow when loan requests are deployed or funded. These fees are in place to fund the development of decentralized lending on ETHLend. Currently, the fees for deploying a loan request is set to 0.01 ETH, which the borrower pays. Similarly, the lender pays 0.01 ETH for funding the loan (these fees are subject to change).
ETHLend will use flat 5% of these fees to buy LEND from the exchange to burn the LEND. Moreover, additional 1 to 5% is used on top of the flat 5% fee depending on the fee volume growth in ETHLend (compared to previous year’s volume). Therefore, ETHLend can use as much as 10% of the fees for buybacks to increase the value of LEND and the percentage of the ownerships of token holders by decreasing the total supply of LEND permanently. The buybacks start on January 2018. Here is a demonstration of the fees used for buyback:
First year (during 2018) = 5%
5% + additional 1% if fee revenue is 20% higher than in previous year
5% + additional 2% if fee revenue is 40% higher than in previous year
5% + additional 3% if fee revenue is 60% higher than in previous year
5% + additional 4% if fee revenue is 80% higher than in previous year
5% + additional 5% if fee revenue is 100% higher than in previous year
Creating more value for the DAPP users. The buyback model provides value to use for holding LEND. Therefore, buybacks motivates to use the token due to the increasing added value effect. When the price of LEND is increasing, the DAPP users can spend less LEND for paying the deployment fees.
Secondarily and indirectly, LEND provides token holders cash-flow. When the percentage of the token holders ownership is increasing, the token holder can sell the increased portion on every burn to realize profit. This makes LEND sought after token.
The aim is to deliver strong token to the market and reward the token sale participants for early involvement.
Token Sale Smart ContractCurrently on security audit. After the security audit, the code is released on GitHub with the report.
The TeamIntroducing our team:
Stani Kulechov, Founder of ETHLend & Development,
stani@ETHLend.iohttps://www.linkedin.com/in/stanislav-kulechov-361284132/Jordan Lazaro Gustave, Head of Management,
jordan@ETHLend.iohttps://www.linkedin.com/in/jordan-lazaro-gustave-32018976/Martin Wichmann, Head of Token Sale,
martin@ETHLend.iohttps://www.linkedin.com/in/martin-wichmann-89722561/Adnan Javed, Legal Advisor,
adnan@ETHLend.iohttps://www.linkedin.com/in/adnan-javed/Sergej Stein, Financial Advisor & Blog,
sergej@ETHLend.iohttps://www.linkedin.com/in/sergej-stein/Kersten Schütze, Head of Corporate Strategy,
kersten@ETHLend.iohttps://www.linkedin.com/in/kersten-sch%C3%BCtze-5ab3a2100/Scott Malsbury, Head of Communications,
scott@ETHLend.iohttps://www.linkedin.com/in/scott-malsbury-a6260b12/?ppe=1Jin Park, Head of Marketing,
jin@ETHLend.iohttps://www.linkedin.com/in/jin-park-27989ab8/Rowan Van Ginkel, Graphics & Visualization
https://www.linkedin.com/in/rowanvanginkel/Edmund To, Lead Junior Developer
https://www.linkedin.com/in/edmundto/Anastasija Plotnikova, Advisor & Translations
https://www.linkedin.com/in/anastasija-plotnikova-9b972735/?ppe=1Nolvia Serrano, Media Correspondent
https://www.linkedin.com/in/nolvia-serrano-ba7362b2/Kelly Pope, Social Media
https://www.linkedin.com/in/smospider/Andreas Haraldsvik, Slack Wizard
https://www.linkedin.com/in/andreas-haraldsvik-21140768/Opinder Preet Singh, Local Advisor on Indian Subcontinent
https://www.linkedin.com/in/opinderpreet/Stephen You, Head of Korean Desk
Media Publications on ETHLendhttp://www.newsbtc.com/2017/07/03/rise-decentralized-p2p-crypto-currency-lending/https://www.cryptoninjas.net/2017/06/01/ethlend-introduces-secured-loans-ethereum-blockchain/http://blockchain-finance.com/2017/07/11/global-lending-market-using-ethereum-blockchain/https://fintech-mag.com/ethlend-blockchain-ethereum/http://btcwonder.com/ethlend-making-lending-safe-secure/http://dappsguru.com/2017/07/16/ethlend/ https://bitcoinexchangeguide.com/ethlend/https://www.coinspeaker.com/2017/06/02/ethlend-unveils-secured-cryptocurrency-loans-based-ethereum-blockchain/https://coinjournal.net/pr-release/ethlend-gives-pre-sale-tokens-ethereum-enthusiasts-helping-hand/https://www.cryptoninjas.net/2017/07/21/ethlend-reveals-unsecured-decentralized-crypto-lending/https://www.btc-echo.de/press-release-ethlend/ http://lending-times.com/2017/07/11/tuesday-july-11-2017-daily-news-digest/http://www.lendit.com/news/2017/07/10/new-company-seeks-provide-decentralized-lending-ethereum-network/https://btcoin.info/blockchain-startup-ethlend-wants-to-revolutionise-the-finance-lending-market/http://www.dailibu.cn/projectdevelopment/2017073787.htmlhttps://www.btc-echo.de/ethlend-veroeffentlicht-reputations-basierten-dezentralen-kreditverleih/https://www.marketslant.com/article/blockchain-startup-ethlend-introduces-working-capital-finance-initial-coin-offeringshttps://ethblogitalia.it/2017/07/25/ethlend/http://m.jinse.com/news/ethereum/51043.htmlhttps://www.taringa.net/posts/economia-negocios/19960418/ETHLend-Revolucion-en-el-mercado-financiero.htmlhttp://www.banklesstimes.com/2017/08/11/ethlend-preparing-for-ico/https://www.investitin.com/eth-lend/https://cryptoinsider.com/blockchain-loans-to-change-the-way-pre-icos-are-funded/https://www.territoriobitcoin.com/revolucion-en-el-mercado-financiero-de-los-prestamos-p2p/The Official ETHLend Big Bounty ProgramContribute to ETHLend by participating to the bounty program. By helping ETHLend you will be rewarded with LEND and you are part of building the first decentralized lending market.
https://bitcointalk.org/index.php?topic=2078686
Frequently Asked QuestionsFAQ:
https://about.ethlend.io/token-sale/ QuestionsFor questions use the Thread / Slack / Telegram / Discord (We love Discord) / WeChat (Chinese/Japanese) / KakaoTalk (Korean) / VKontakte (Russian)
Social Media - Witness the Movement of Global Lending MarketDiscord (Better and safer than Slack):
https://discord.gg/gcc7vpa Slack:
https://join.slack.com/t/ethlend/shared_invite/MjM3NzI4NTAzMjAzLTE1MDQ4MDk3ODMtNTNkMTcxNTM3MgTelegram:
https://t.me/joinchat/FWu2CQ0ZRCeWfey4eP8VhQ Reddit:
https://www.reddit.com/r/ETHLend/ Facebook:
https://www.facebook.com/ETHLend/ YouTube:
https://www.youtube.com/watch?v=IGaoqUoL1F4&t=2s Twitter:
https://twitter.com/ethlend1WeChat: @ETHLend
KakaoTalk:
https://open.kakao.com/o/gBzFr5yVkontakte:
https://vk.com/ethlend![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fabout.ethlend.io%2Fwp-content%2Fuploads%2F2017%2F06%2Flogo_300DPI-02-1.png&t=665&c=iDM9KMh7yLUV6g)