ETHLend is a decentralized lending platform on the Ethereum blockchain. It enables loans for Ether by using ERC-20 compatible tokens or Ethereum Name Service (ENS) domains as collateral. ETHLend solves problems associated with lending on several fronts -
- Reduces the potential loss of loan capital on default.
- Smart contracts ensure that the lender's assets are secured through the borrower's collateral.
- Introduces a reputation and credit system apart from the traditional credit system.
- Potentially allows for tokenization of any asset.
It's ETHLend's attention not just to Ethereum, but to ERC-20 compatible tokens that is so interesting.
There have been so many Ethereum-based ICO's in the last few months, what do you do with them all? If you want to hold them, some won't begin to see their true value until they build out their platform a quarter or two (or longer) after the ICO. Sure, some investors just want to flip the coins they got at pre-ICO prices for some quick profit, but others want to hold longer-term.
ETHLend provides an avenue for revenue from those tokens you hold.
It feeds the whole ecosystem. Investors don't have to make that choice between quick profit or potentially an even bigger score by holding a token long-term. They can hold their tokens longer term, but also get some value out of them now by using them as collateral with ETHLend's platform. This also supports the developers. It helps them get their coins into stronger hands, those who are willing to wait for the platform to develop and grow, but are understandably under pressure to make something happen with their assets in the meantime.
Investors are already talking about the opportunity to take those ICO tokens, collateralize them with ETHLend and take out a loan in Ether, and then invest the Ether into new ICO's! Savvy investors know how to leverage their assets. ETHLend gives them another viable way to do that in cryptos, leveling the playing field with traditional assets.
ETHLend also provides an alternative to traditional credit. Customers can build reputation and credit within ETHLend that can ultimately be leveraged further without relying on that traditional credit system. This is part of the alternative banking and financial system that is being built within the entire crypto ecosystem. As projects like ETHLend succeed and prosper, they will begin to work together. Imagine that ETHLend's reputation system could be linked to Civic, for example, as another respected and accepted source of credit in the ecosystem.
ETHLend is not without some competition. Their ICO comes fast on the heels of SALT earlier this year, and Meridian and others are also coming out with lending applications. This shouldn't be a problem. It's a huge market, largely untapped, and growing exponentially. Mass adoption of cryptoassets has not yet taken place, and even institutional investing is just beginning. There is tremendous potential for growth and lots of room for healthy competition in the market. It's just a sign of a market beginning to mature.
So many ICO's have been, and continue to be, based on ERC-20 tokens, that ETHLend's focus on them makes their platform really inviting for a lot of investors. Even with looming competition in the lending space, ETHLend's focus on ERC-20 tokens in particular stands to make a significant impact in the market, almost immediately. ETHLend will begin to fulfill much of the tremendous potential of blockchain technology and will help to fill a gaping hole in the ecosystem and contribute mightily to its long-term health.
Learn more about ETHLend -
Info site: http://ethlend.io
White Paper: https://github.com/ETHLend/Documentation/blob/master/ETHLendWhitePaper.md
Steemit: https://steemit.com/@ethlend
Discord : https://discord.gg/gcc7vpa
Telegram: https://t.me/joinchat/FWu2CQ0ZRCeWfey4eP8VhQ
Slack: https://join.slack.com/t/ethlend/shared_invite/enQtMjU1MDYxMjc0MDUzLTBhNTc3OWUzOGY1ZjhmY2JmNmU0MzAwM2Y0Yjg1NTYxZjkyZDU2NWEwYzQyZjhjMWQyOTBlNDQ2Zjg2MGQ5Njk
ICO thread: https://bitcointalk.org/index.php?topic=2090735.0
DAPP Thread: https://bitcointalk.org/index.php?topic=2013399
Twitter: https://twitter.com/ethlend1
Facebook: https://www.facebook.com/ETHLend/
Reddit: https://www.reddit.com/r/ETHLend/
YouTube:
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