SALT lets you leverage your blockchain assets to secure cash loans. We make it easy to get money to spend without having to sell your favorite investment.
It will provide its service through lenders. And will migrate all physical assets (e.g. Diamonds, Deeds, ...etc.) to the blockchain.
In the past, the difficulty and costs of liquidating, transferring, and storing assets have required lenders to focus on the creditworthiness of their borrower as well as the value of their borrower’s assets. This inefficiency results in limited accessibility to cash and higher interest rates for borrowers.
Important things to know about it:
- SALT token is an ERC20 smart contract built on Ethereum.
- SALT token is available for purchase through the Salt Lending dashboard.
- A purchase can be initiated from any wallet, even exchanges so long as they support sending to external addresses.
- The minimum amount you can borrow is $5,000 and there is no maximum loan amount.
- If a borrower misses a payment, SALT Secured Automated Lending Technology automatically liquidates a portion of the total collateral to cover both the missed payment and any associated fees. This process continues until the loan is fully retired or matures.
- Loan payments can be made with digital currencies and will be converted to the base currency of your loan.
- Only Accredited Investors and qualified financial institutions can become lenders on SALT Platform.
Basically, what SALT is offering now is the ability to sign up for their waiting list, to be one of the first in line to become a member of their platform.
* All images are capture from the official site.
