ETHLend will revolutionize finance by establishing a decentralized blockchain platform for borrowers and lenders of cryptocurrencies to interact. The aim of the platform is to remove unnecessary middlemen to bring more favorable conditions to borrowers and lenders.
One primary benefit of the ETHLend platform is that it is transnational, allowing borrowers and lenders of any nation to interact. By bringing financial services to people from all over the world, liquidity and capital will increase, thus leading to more economic opportunities globally. The decentralized nature of the blockchain means that borrowers and lenders can interact without having to exchange fiat currencies through traditional banks, bringing convenience and reducing costs. With a decentralized platform that does not discriminate or engage in favoritism as traditional financial institutions are inclined, lending is democratized, leading to greater economic potential for all users.
As a decentralized platform, ETHLend does not provide loans or hold any assets for borrowers. The ETHLend platform is peer-to-peer, allowing users to set their own conditions with “smart contracts” on the Ethereum blockchain. Smart contracts are self-executing contracts based on criteria agreed by two parties that remove the need for middlemen. Though ETHLend is decentralized, the mainstreaming of cryptocurrencies and the likely future involvement of regulatory bodies in numerous jurisdictions means that ETHLend will strive as much as possible to comply with financial regulations by introducing features into the platform that allow users to comply with their particular jurisdiction.
ETHLend will provide innovative features to attract users. Among the unique features of the ETHLend platform is competitive bidding, whereby lenders will be able to compete with one another for borrowers by setting their interest rates. The smart contract will accept the lowest rate, allowing borrowers to receive the best offers. Lenders will be able to use the platform to loan bitcoin and altcoins.
The ETHLend platform will also assist lenders to mitigate their risks. ETHLend is developing artificial intelligence (AI) that will assess the risk of borrowers based on data collected from them to help lenders in their decision-making. ETHLend also invites insurers to use its decentralized platform to insure lenders to protect them from defaults on loans.
A total of 1,000,000,000 LEND will be minted by the ETHLend project, and an additional 300,000,000 will be held to maintain and promote it. The LEND token, running on the Ethereum blockchain, is ERC20 compliant, allowing it to be stored in standard Ethereum wallets. To reward adopters of the platform, ETHLend will provide airdrops of LEND to active users. Moreover, LEND token holders will be entitled to reduced fees and premium features on the ETHLend platform. Those who refer others to the platform will also be rewarded with LEND.
*I am receiving ETHLend tokens for the growth of the community.
For more information about ETHLend: