Enormous $1.3 bln worth of demand reported for SALT

Blockchain based loan platform sees an outstanding rate of client interest
26 February 2018   128

SALT, a blockchain company that deals with loans reported a tremendous spike of loan requests on February 20. It announced that new memberships, loan requests and SALT purchase are put on hold for the time being, as the team addresses the demand situation. Naturally, the existing clients will be able to fully operate the platform.

The company based in Colorado and dealing with blockchain-backed loans since late 2017 has already issued $23 mln worth of loans. Without giving any cryptocurrency and by simply using it as a collateral for cash loans, members are able to put their profits to use in decentralized currency markets, for example to pay off a debt.

Though the platform itself is not cheap - the focus group are those with 6-figure salaries and a net worth of millions of dollars. Despite the fact the minimum loan is $5,000, the number of members is already over 60,000 and it seems such model is working pretty effective. But the issue of scalability now became a bottleneck in the system.

Other lending programs abound within the ecosystem: Coinloan is a crypto asset collateral lending program that offers significantly smaller loans and easier access; Ripio’s RPN Global Lending is more peer-to-peer in its approach; Ethlend of Switzerland works off of the Ethereum blockchain, and touts its decentralized features.

Monetha is about to release first version of its wallet app

Monetha's MVP to be released on March 21 exclusively for MTH holders in order to make a significant step towards fully working decentralized trust and reputation system
23 March 2018   72

Starting from March 31 all of MTH token holders will gain exclusive access to Monetha wallet app - the MVP of the project. The release is considered to be Beta release, and approximately 10,500 of the users of the platform will become the first to test out the product. The app will be available on both iOS and Android.

The wallet itself is based on smart contracts and features

  • making/solving claims;
  • rating merchants;
  • writing reviews;
  • review of purchase history;
  • see clients' and merchants' trust ratings

The integration with Monetha through the app will allow merchants to accept Ethereum based tokens as a payment and then easily convert cryptocurrency into fiat currency. Monetha's mission is 'to develop and deploy the best transaction system that would be based on enforceable contracts without third party between consumer and merchants and a strong decentralised reputation management system'. Its solution is going to be universal, transparent, self-executing and transferable.

To the moment of the publication, Monetha's market parameters are as follows:

Average price: $0.102597

Market cap: $22,274,083

Volume (24): $435,208