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SALT Bringing Loans to the Crypto Universe
Cryptocurrencies and blockchain related projects have been coming up with a purpose to fill the void left in many industries worldwide. We have seen the introduction of various different crypto-related projects in varied industries such as security, automobiles, financial services, hospitality, creative services and supply chain management. With the introduction of SALT, however, the Cryptocurrency world is ready to step foot into the loaning market. Launched in 2017, the SALT lending platform completed its discounted membership way back in August and has seen a large degree of success since its launch.
SALT derived as is an acronym for Secured Automated Lending Technology. Salt Lending describes itself as “a next-generation lending platform for blockchain backed loans.” Essentially, Salt Lending provides a lending platform where members of the platform can put up their blockchain assets as collateral.
At the time of writing (13/03/2018) SALT has a market cap of $173,635,995 USD with a present circulating supply of 55,745,114 SALT. The total supply of tokens in the network is kept fixed at 120,000,000 SALT.
About SALT
Currently, the SALT Lending platform is a membership-based lending and borrowing network, allowing users to leverage their blockchain assets for securing cash loans. The driving force behind the company’s technology is a protocol and asset agnostic architecture designed with a high degree of adaptability.
The team behind SALT has been growing since their launch, currently employing more than 60 professionals. It has been since touted to be the main driving force behind the emerging sector of Fintech or Financial Technology based crypto projects. The project aims to provide the best way to pay for emergencies or when somebody wants to make a big purchase without disposing of their owned blockchain assets. Since there aren’t many merchants that accept cryptocurrencies as a form of payment, SALT aims to bridge the gap.
Jennifer Nealson, the recently appointed Chief Marketing Officer at SALT is optimistic about the future. “The potential impact of SALT Lending’s success on Colorado’s economy cannot be overstated,” says Jennifer Nealson. “Blockchain is poised to be the most disruptive technology in recent history. SALT Lending is taking the lead in creating lending systems, marketplaces, and services that will benefit financial institutions, consumers and underserved communities globally.”
Where to Buy SALT from?
At the moment, the most popular exchanges to purchase SALT are Binance, Bittrex, and Huobi. To trade for SALT on one of these exchanges, a trader needs either Bitcoin or Ethereum. In cases where a user does not have a prior deposit of cryptocurrencies, they can purchase SALT with traditional currency on an exchange like Gemini and then transfer them over. Because SALT is an ERC20 token, users have a few different options like MyEtherWallet.
The Working Force Behind SALT
SALT tokens, like other Cryptocurrency tokens, are backed by the Blockchain technology, which allows users to use Bitcoin, Ethereum or Ripple tokens as security. SALT is decentralized, meaning there is no central bureau to scan users for credit eligibility, making loans more accessible. The tokens are ERC20 based, built on the Ethereum ecosystem.
Future Prospects
The fact that there will always be a demand for loans from the general populous makes the future prospects bright for SALT. Given the state of the current currency lending sector, SALT definitely provides something new to the table.
The amount one sets aside as collateral gets locked up and not released till the loan has been fully repaid. Since banks worldwide are overcharging their clients through their loaning system, SALT is a viable option. Moreover, the general shift of the world economy is towards digitization of real-estate as well as other sectors. In such cases, SALT can emerge as a secured loan service in the Cryptocurrency world.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of gotcredit.com
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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