ETHLend (LEND) is a decentralized peer-to-peer lending application developed from the Ethereum blockchain network that connects borrowers and lenders from all over the world. The key to this whole process lies in the smart contracts. Trust is eliminated by executing code that does not require a central system and all of the loans are run on the blockchain. ETHLend allows you to become your own lending institution while the blockchain technology gives you the ability to become your own banking institution.
The ETHlend team announced their 0.3 Alpha Kogia application on the Ethereum main network on May 14th. This release will open a whole new chapter for ETHLend, as the Kogia application introduces a completely new usage flow, where lenders and borrowers are both able to place loan requests or loan offers to each other in a classical peer to peer and open market fashion.
🚀BREAKING NEWS: Kogia 0.3 Alpha Released on Mainnet — 1 000 000 LEND in Rewards
The most anticipated moment in the history of ETHLend has come true today:: https://t.co/CM0tgmHRBr pic.twitter.com/wLfvhocdon
— ETHLend (@ethlend1) May 14, 2018
The ETHLend team has been working hard over the past few months to release the most feature rich decentralized lending application to date and believes that the user’s personal experience is the key for mainstream adoption of decentralized applications. ETHLend is confident that lowering the learning curve will reduce friction for the users to perform safe, secure and audible loan transactions on the Ethereum blockchain. Due to institutional request, ETHLend sped up the release of the sophisticated collateral control that was initially planned to launch ion Q2 2019 and is, instead, in the works of deploying it now.
This gives borrowers full control of the collateral. A borrower can refill the collateral position or withdraw any excess collateral from the smart contracts. Lenders are able to call the collateral when a borrower does not exercise these functions. Combining sophisticated collateral management with the future releases of KYC implementation will satisfy the requirements for institutional users to come on board and utilize ETHLend to the fullest. Even though lending is based on collateralized digital assets, lenders are now able to reduce their own risk on a particular loan by funding loans partially. Lenders are able to diversify their lending portfolio to multiple parts of loans.
With the new Kogia release, borrowers are able to borrow up to 75 percent loan-to-value ratio and up to 80 percent when LEND is used as a collateral, allowing borrowers to utilize more liquidity from threat token holdings.
LEND is creating a completely new standard and allowing the LEND tokens become the actual lending currency. This will enable the token to grow into a dominant lending currency and be used as the medium of exchange form all lending transactions within the ETHLend platform. This utility model focuses on user growth and re-engagment for early adopters on the platform and deployed a completely new fee structure: Zero-fee lending can be activated when LEND is used as a medium of exchange and the reduction of fees by 50 percent when LEND is used as collateral. This will create organic demand for the lending currency. Since there are no bank accounts involved, all one needs is an Ethereum address in order to send or receive a loan.
By allowing users to pledge Ethereum to recieve liquidity, LEND opens the option to unlock the liquidity of the $50 billion USD market capitalization of Ethereum. With Ethereum, users will be able to use over 135 different tokens as collateral. This is good news for Ethereum token holders who are in need of liquidity but don’t want to sell their current tokens.
ETHLend announced that In celebration of the Kogia release, they are giving out 1,000,000 LEND tokens for the users of the platform whether its their first loan request or loan offer with LEND currency. Each loan request that borrowers places with LEND that gets fully funded, ETHLend will award 100 LEND tokens. For each loan offer than lenders places with LEND currency that gets a borrower, ETHLend will award 100 LEND tokens. Whoever gains the most tokens as part of this Kogia launch reward program will get a personalized badge as “Kogia Superstar” from the Gamified Credit Profile and receive some “ETHLend swag.”
“ETHLend (LEND) traded up 1.14 percent to US dollar during the 24h time period closing 05:45 on May 21st EST. ETHLend at this moment has a total marketcap of $63,611,675 and its twenty four hour volume is around $872,583. Over the last seven day time period, ETHLend is -8.53 percent against the US dollar along with a movement of -0.36 percent in the last hr.”
It seems that ETHLend would be a good crypto investment as the blockchain revolution approaches, however I am not a financial writer and only a journalist. From what I have gathered, LEND seems to promise a great deal of strength. With a new, innovative way of lending on the blockchain platform, LEND could change the way we operate today and lead the way for a generation of easy borrowing and give-back. ETHLend is small market cap coin.