CoinLoan is a great project on based on blockchain that basically offers a platform to the users where the crypto tokens like BTC, ETH, LTC... can be lent to the users. Any user on the platform can act as a lender and a borrower. I really liked the idea behind it. Basically, if a person has a lot of USD then he can use the platform to earn some extra money and the borrowers can submit their crypto tokens and get the USDs. Upon successful submission of the loan amount the borrower will be credited the full crypto amount.

 

Introduction to CoinLoan Token (CLT)

How does it work?

They are basically creating a bank system but completely decentralised and anonymous. A lender can deposit fiat funds and in return it would get all the money back with interest and opposite process goes with a borrower. The latter can deposits its crypto token and in return it would get loan at once and upto 70% of the  market value. Once the repayment of the loan is done, the user account will be credited with complete amount of the deposited crypto tokens.

Token Sales

The platform offers its own token CLT and its sales are ending in 6 days. The company has raised more than $2.5 Million and a total of 1 Million CLT tokens sold.  

More About The Project

Whitepaper : https://d22bh5hhp3xpt1.cloudfront.net/CoinLoan_WhitePaper_v0.1.pdf

Official Site: https://coinloan.io/

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