[ANN] [ICO] CEREAL - BLOCKCHAIN ECOSYSTEM FOR ASSET-BASED LOANS

[Cereal Team]

Hi!
Do you need any specific national regulations for you loaning operations? I mean specific laws in each country?

Hello ! We need our business to comply both with financial and crypto laws, that’s why very carefully approach the choice of the country where our products will be launched.

Best
CT

[Cereal Team]

Hi all! Our team has visited 6 cities in China for 12 days - Wuhan, Changsha, Guangzhou, Chongqin, Wenzhou, Ningbo. During this time, the project was presented to more than 1000 people and received a positive response from both investment funds and private investors, not only from China, but also from all southeast Asia. We are preparing an article in Medium on this topic and will publish it soon, but for now you could read our new article about the Market of Crypto-Secured Loans!
https://medium.com/@cerealfinance/crypto-secured-loans-market-fce38f536dc8

Best
CT

[graxoff]

How do you know which customer is suitable for a loan?

[Cereal Team]

How do you know which customer is suitable for a loan?

Any owner of cryptoassets which are accepted as deposit can get a loan in fiat. The process of obtaining a loan takes less time compared to the procedure for obtaining ordinary bank loan products as there is no scoring procedure. But we comply with all the conditions of KYC and AML, that’s why every client applying for a loan passes preliminary identification.

Best
CT

[Cereal Team]

OUR bounty campaign is full released since today!
Visit bounty thread and you can find a lot of ways to get CRL tokens for your support of us
https://bitcointalk.org/index.php?topic=4616911.new#new

Best
CT

[mini max]

Why should your business model / enterprise be decentralized?

[Cereal Team]

Why should your business model / enterprise be decentralized?

Hi! Our business model is not decentralized. We create convenient credit products for crypto asset owners. Blockchain is a part of our ecosystem, because the collateral in the loan is a crypto asset.

Best
CT

[Evelyn Abramson]

Hi. How many tokens will be issued?

[Cereal Team]

Hi. How many tokens will be issued?

Hello Evelyn . The exact number of created CRL tokens will depend on the amount of funds collected during
the token sale .

Best
CT

[Dolphin_se]

Russian ANN thread is live: https://bitcointalk.org/index.php?topic=4656788.0

[did1]

I looked through WhitePaper and did not see any figures on the interest for which they are going to issue loans.

And how is the success of the partner GigaWatt - they dealt with all their problems? And then I had their tokens, only the terms of construction and start-up of equipment mining were shifted.

[Kriptopsina]

What are your plans for the near future? What steps are you planning?

[darkie199]

In case if a customer fails to pay the % or monthly instalment for loan how will it be encounted ? How long is the termination period?

[Cereal Team]

Good day everyone! Our team has visited 6 cities in China for 12 days - Wuhan, Changsha, Guangzhou, Chongqin, Wenzhou, Ningbo. We've prepared an article in Medium about the roadshow! Check it out for more details! https://medium.com/@cerealfinance/cereals-road-show-in-china-679261bfc707

[Cereal Team]

In case if a customer fails to pay the % or monthly instalment for loan how will it be encounted ? How long is the termination period?

Thanks for your question.

In case if a customer can’t repay the loan in fiat he can make a request to Cereal to sell part of the deposit at the market price in the equivalent of the debt. If the collateral value drops by Cereal level, we send customer a warning that the deposit funds are insufficient. In this case customer can:
- Increase deposit to the level required;
- Pay off a part of the debt to comply with the deposit amount or repay the debt in full;
- If the first two actions are not possible, customer can sell part of the assets in the equivalent of the remaining debt.

Best,
Cereal Team.

[Cereal Team]

What are your plans for the near future? What steps are you planning?

Thank you for the interest in our project.

As of right now we are planning to launch a credit product with Gigawatt for buying miners in installments. Later on we’ll be focused only on crypto-backed loans and introduce our product first for BTC and ETH.

Best,
Cereal Team.

[Bezuprechnyj]

Hello, comrades. As stated in the white paper "In the future some other cryptocurrencies (not Bitcoin and Ethereum only) will be considered as deposit assets, as well as, possibly, other assets that can act as liquid deposit". On the basis of what indicators will you select cryptocurrencies are able to act as security for the loan, and what do you mean by "other assets"?

[FaizRafeek78]

I heard that you will be supporting Btc and eth at first,BTC and ETH is good,since it is stable,upto an extent!
how many currecies are you planning to add on to the platform,in the future?

[omar hashim]

Cereal is a platform offering credit products that are secured by customers’ mining equipment, cryptocurrencies and other blockchain assets. Cereal is developing a suite of products catering for the individual needs of various market participants.

[Cereal Team]

I looked through WhitePaper and did not see any figures on the interest for which they are going to issue loans.

The interest rate is not fixed and will depend on a number of factors: the amount of the mortgage, the term of the loan and the country in which the loan is issued, the exact figures will be known after the final agreement with the partners. For details, you can contact the team directly via telegram https://t.me/cerealico, there they are actively discussing these issues.

And how is the success of the partner GigaWatt - they dealt with all their problems? And then I had their tokens, only the terms of construction and start-up of equipment mining were shifted.

We don't discuss any of our partners here. Please, ask your request for the Giga Watt support.

Best,
Cereal Team.