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Author Topic: 🔥[ANN][ICO] CoinLoan — Lending Platform with CryptoAssets as Collateral🔥  (Read 9107 times)
coinloan
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October 19, 2017, 08:06:45 AM
 #81

Good afternoon. What cryptocurrencies will take CoinLoan as collateral for the loan? In the future do you plan to expand available to work in the service of cryptocurrency?

After the launch of the platform, we are going to support several major cryptocurrencies as collateral: Bitcoin, Ethereum, Litecoin, Dash, Ripple, Monero, ZCash. Yes, we plan to expand this list in the future.

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October 19, 2017, 12:09:22 PM
 #82

The customers in CoinLoan will borrow upon the security of their cryptoassets. So, in case the mortgaged cryptocurrency value increases, won't the debt amount change or not?
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October 19, 2017, 12:26:34 PM
 #83

The customers in CoinLoan will borrow upon the security of their cryptoassets. So, in case the mortgaged cryptocurrency value increases, won't the debt amount change or not?

Anyway, the borrower needs to repay the same amount as he/she borrowed + lenders interest rate.

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October 19, 2017, 12:34:20 PM
 #84

Will CoinLoan have any territorial limitations on business? In which countries do you plan bring the service into operation in the first place?
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October 19, 2017, 12:49:53 PM
 #85

Good afternoon. Who can become a creditor in CoinLoan? If I am a legal body, will I be able to provide loans in your service? Will execution of the supplementary contracts be necessary for that after registration?
coinloan
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October 19, 2017, 12:57:51 PM
 #86

Good afternoon. Who can become a creditor in CoinLoan? If I am a legal body, will I be able to provide loans in your service? Will execution of the supplementary contracts be necessary for that after registration?

Any individual or legal entity can act as a lender on the CoinLoan platform. No licenses required for this.

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October 19, 2017, 01:04:13 PM
 #87

Will CoinLoan have any territorial limitations on business? In which countries do you plan bring the service into operation in the first place?

We are going to cover all the world.

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October 19, 2017, 01:08:25 PM
 #88

Upon what benefits inside the service will it be possible to spend tokens of your project?
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October 19, 2017, 01:13:25 PM
 #89

Upon what benefits inside the service will it be possible to spend tokens of your project?

CoinLoan Token (CLT) - an ERC-20 compatible token, built on Ethereum blockchain. The main task of the CLT token is to pay fees for providing or borrowing a loan. 1 CLT allows paying the platform fee for borrowing a loan up to $10000. In addition, it will be possible to reduce the interest rate on obtaining a loan by offsetting the part of the rate with a CLT token.

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October 19, 2017, 01:16:15 PM
 #90

Upon what benefits inside the service will it be possible to spend tokens of your project?

CoinLoan Token (CLT) - an ERC-20 compatible token, built on Ethereum blockchain. The main task of the CLT token is to pay fees for providing or borrowing a loan. 1 CLT allows paying the platform fee for borrowing a loan up to $10000. In addition, it will be possible to reduce the interest rate on obtaining a loan by offsetting the part of the rate with a CLT token.


If the value of the loan drops below the collateral rate (you say 70% I think), what happens then? The borrower has an incentive to not pay back. How are you going to take that into account?

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October 19, 2017, 01:24:47 PM
 #91

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?
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October 19, 2017, 01:39:30 PM
 #92

If the borrower has troubles, can he contact directly creditor inside service CoinLoan and agree upon debt restructuring?
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October 19, 2017, 01:40:42 PM
 #93

Upon what benefits inside the service will it be possible to spend tokens of your project?

CoinLoan Token (CLT) - an ERC-20 compatible token, built on Ethereum blockchain. The main task of the CLT token is to pay fees for providing or borrowing a loan. 1 CLT allows paying the platform fee for borrowing a loan up to $10000. In addition, it will be possible to reduce the interest rate on obtaining a loan by offsetting the part of the rate with a CLT token.


If the value of the loan drops below the collateral rate (you say 70% I think), what happens then? The borrower has an incentive to not pay back. How are you going to take that into account?

You can read more about this in our White Paper starting from page # 12: https://coinloan.io/whitepaper

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October 19, 2017, 01:42:20 PM
 #94

Hi
Is this coin the same SALT?
coinloan
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October 19, 2017, 01:42:42 PM
 #95

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).

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October 19, 2017, 01:45:23 PM
 #96

If the borrower has troubles, can he contact directly creditor inside service CoinLoan and agree upon debt restructuring?

It's not possible. The borrower has different ways what to do in such situations. You can read more in our White Paper.


Hi
Is this coin the same SALT?

We often receive this question. Here are the main differences:
1. CoinLoan project will be launched in Europe and licensed as a payment institution. This allows working legally and providing services all over the world, excluding those countries where a local license is needed. We will try to obtain a license in other countries (including those in Asia) depending on the amount of the raised funds.
2. Any individual or legal entity can act as a lender and provide loans or as a borrower and receive loans. No licenses are required for this.
3. The minimal amount of the loan on the platform is $50 (also expressed in other currencies). This allows providing microloans. The maximum amount is not limited.
4. All applications for providing and borrowing loans will be processed automatically and immediately.
5. CoinLoan Tokens (CLT) will be used for paying the fees on the platform for receiving and borrowing loans. They form an integral part of the system which provides the high demand for them at the market.  
6. The borrowers will be able to evaluate the risks related to the cryptoasset volatility and set the LTV (Loan-to-value ratio) at their sole discretion (from 10 to 70%).
7. Loans can be provided or borrowed in many fiat currencies (USD, EUR, GBP, CNY, JPY, RUB, CHF). This list will be extended as the platform is developed.
8. Various cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero, ZCash) can be used as a collateral. This list will also be extended. We'll try to cover all popular cryptocurrencies with a high capitalization rate.
9. We will focus on convenient and fast methods of depositing/withdrawing fiat funds on the platform with a minimal fee. E.g., instant withdrawal on any bank card, local bank payments, conventional international SWIFT-transfers, etc.
10. We don't prohibit placing our tokens at the exchange, in fact, when ICO ends we'll try list the tokens on the largest cryptoexchanges.
11. Also, we'll try to provide the most profitable fees and lending conditions on the market.
12. Borrowers will have more discretion in different market conditions which affect the value of the cryptocollateral.

polonium84
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October 19, 2017, 01:54:29 PM
 #97

If the value of the pledged asset falls back because of the quotation fluctuations on the market, will it have any effect upon the transaction between borrower and creditor?
coinloan
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October 19, 2017, 02:06:12 PM
 #98

If the value of the pledged asset falls back because of the quotation fluctuations on the market, will it have any effect upon the transaction between borrower and creditor?

This is a good question. We have described this in our white paper too. Please, check section "4.3 Mechanism of Handling Risks".

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October 19, 2017, 02:26:54 PM
 #99

Are there limitations upon minimal and maximal credit amount in CoinLoan?
DawQ
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October 19, 2017, 02:29:20 PM
 #100

Sounds like a solid idea but the launch is too far away. Are we supposed to be sitting with our tokens for one whole year?
Also, 5% discount pre-ICO is very very low.
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