SALT is a membership-based lending and borrowing network that allows users to leverage their blockchain assets to secure cash loans. On the SALT platform, users can obtain loans using their cryptocurrency holdings as collateral.
With SALT, users can leverage the value of certain digital assets, thereby giving them access to cash, offsetting tax events, avoiding exchange fees and maintaining their long position in the asset they hold.
Users need to obtain SALT tokens in order to participate on the platform and obtain loans. The more SALT tokens users spend each year, the larger amount of borrowings they can obtain.
With the SALT platform, users can obtain liquidity from their cryptocurrency holdings without selling them, just like other traditional asset classes such as stocks, bonds, real estate, and commodities.
SALT loans are exclusively collateral-based, which means that the borrower’s credit history is inconsequential. Any user’s collateral has the same value to lenders as anyone else on the platform, regardless of each user’s credit score.
The picture below shows the process of obtaining a loan on the SALT platform:
The project was conceived in 2016. In early 2017, SALT completed a seed capital funding round, raising over $1 million. All executive members of the team and board members have contributed personal funds to the development of the software and the company.
In March 2017, SALT created the first Blockchain-Backed Loan Agreement.
SALT expects to launch in 2017 Q4, and the Development Platform API & Dev Tools in 2018 Q1.
This token is used to have the access on the lending program.
The picture below shows the different membership tiers:
The total supply of this coin is 120,000,000.
The value of the SALT tokens it depend on the usage of it.