Usually I don't post about icos (here's why), but this one seems so good and there's not much information on the net.
What's that
SALT is to obtain blockchain-backed loans, which use cryptocurrency holdings as collateral:
Platform
It has already a working demo product:
The ICO is organized on the SALT platform, which is a good start. The official launch of the lending platform is planned for the end of 2017.
Why SALT token is needed
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:
Key advantages
- Borrowing money or assets using cryptocurrency is getting more popular (see lending cryptos on Ploniex and Bitfinex). Since cryptos are increasing in price, lots of users would want to get fiat without spending their crypto.
- Using the blockchain for lending money doesn't have much competition yet.
- Salt has strong well known team. Erik Voorhees, CEO & Founder of ShapeShift, is Board Director.
- It has strategic partners as ShapeShift, Exodus, Jaxx and Taas. It has already investments from venture capital firms.
- The price of SALT will be not less that $10 after the initial sale.
How to participate in ICO
ICO starts on Tuesday, August 15th at 8:00 AM MST (in about 3 hours) and until the following tiers are sold out:
- 2.0 million SALT @ $3
- 1.5 million SALT @ $5
- 1.0 million SALT @ $7.50.
You have to be registered on saltlending platform in ordered to participate (devs opted to do a private sale not a public sale, only those referred by someone have access to presale). If you want to invest more than $2000, there's also an automated ID verification.
- Website: https://www.saltlending.com/
- Whitepaper: https://crushcrypto.com/wp-content/uploads/2017/08/SALT-abstract.pdf
- Hard cap: $48.5 million (ICO contributors own 45% of total token supply if all SALT are sold in ICO)
- Soft Cap: US$35 million
- Conversion rate: Retail price of a SALT token is from $10
- Maximum market cap at ICO: US$108 million
- Bonus structure: Different tier in pricing from $3 to $7.5 per SALT depending on contribution time
- ERC20 token: Yes
Happy investing! Don't forget to upvote the post and follow me for more info about cryptos