ETHLend decentralized lending running on the Ethereum blockchain network

With the blockchain becoming popularly used today, we have seen a rise in the number of online lenders over the years that have come on board to help borrowers that can’t find the financing from a bank, and given the sharp decrease in banks lending out to small businesses, these alternative lending businesses will continue to prosper as people are desperate in need of these services.
Owing to this trend Ethlend is developing a project that will break the business market of heavy and unfair lending as we all know it today. Through the ongoing crowdsale it will enable Ethlen to make these lending services available to everyone on a global scale. Instead of relying on local banks and lenders, the project believes that borrowers should have the financial benefit to obtain a loan from anywhere in the world.
I believe some of the reasons that will make ETHLend a functional and successful project is its based on a fully decentralized peer to peer lending Smart Contract which will run on the Ethereum blockchain and will allow its lend users to use their digital tokens as collateral depending on value. Once the borrowers has gained reputation, they can also loan without the need of a collateral by the use of Credit Tokens (CRE). To build your own reputation on this platform its as easy as making timely repayments which will be graded on simple calculations in the following way, each repaid loans mints 0.1 CRE for every 1 ETH. 0.1 CRE allows to borrow without a collateral up to 0.1 ETH (1:1 ratio). If the borrower does not repay the loan, the whole CRE balance is burned (permanently deleted). ETHLend also solves the issue of volatility by allowing users to base the loans in USD (transactions in Ether, calculations in USD), as you can see its a simple and functional computation.

ETHLend ICO Information:

The ETHLend initial coin offering (ICO) will go live November 25th 2017 and is expected to raise 37 600 eth which will make it possible to build this great project.

Remember to do your due diligence before investing in any ICO as there is always risk involved and value of the coin could fluctuate any time. For more information about ETHLend visit the links below ⇩ ⇩ ⇩ ⇩

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