Ethlend - Fast, Secure and Transparent Lending Platform

ETHLend is a DApp (Decentralized Application) that is built on the Ethereum blockchain, ETHLend offers secure peer-to-peer lending through Smart Contracts.

ETHLend aims to manage and equalize the inconveniences attached to lending services by the traditional financial system and eliminating the central control and power in the possession of large financial institutions and traditional banks in general.

ETHLend allows a borrower and a lender to draw inference on the necessary information as regards their terms and condition loaning without the need for a middleman. This means that the lender and buyer all around the world can easily create a loan contract and it is strictly based on their terms and conditions.

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I'm going to be unveiling some progress the ETHLend has made over the years, please stay with me.

The ETHLend network was created by Stani Kulechov and realized in 2017. After which was followed by the publication of the ETHLend Alpha on the Ethereum mainnet. This publication brought an effective functioning prototype of the decentralized application.

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Afterwards, the publication of whitepaper followed suit. Introducing a roadmap of the developments accomplished by ETHLend. The white paper has a lot of detailed information about decentralized lending and ETHLend DApp. You should check it out at your convenience, I will be dropping links below this post for more insights.

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ETHLend Launched an ICO in November 2017, the ICO was a very successful one, the platform sold over 1 billion tokens to participants in a period of 4 weeks, that's not all, a pre-sale was sold within 77 hours, this pre-sale raised over a sum of 600,000 USD worth of Ethereum.

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ETHLend Industries relocated to ZUG in Switzerland early 2018, the region is popularly known as the crypto valley, the reason is as a result of the sandbox regulations on blockchain system. For those that are not familiar with "sandbox regulations" - this is a framework/substructure that is set by a regulator that gives an opportunity to FinTech startups and innovators to carry out live experiments within a controlled environment, and under the supervision of a regulator, is known as sandbox regulation.

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Currently, only the borrowers are permitted to create loan requests on the ETHLend platform, in doing that, borrowers are expected to set up data relevant to their terms like; duration time of the loan, the volume of tokens intending to use as collateral, and of course interest premium.

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If a lender agrees to the terms proposed by the borrower, then a loan agreement can be createdto carry out the transaction process. There are two basic situations can be proceeded by the creation of a loan agreement, they are:

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The borrower MUST pay back the granted loan. After which the lender goes ahead to collect his principal asset and the interest added or.

In a case where the borrower refuses to repay the loan, the lender will go ahead to collect the collateral the borrower posted.

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Ethlend is also a perfect substitute for traditional financial institutes since it guarantees a secure service that will in turn lead to trust. Ethlend will eliminate every form of third-parties manipulation and stress. The Smart Contract is well protected and can’t be altered and that keeps both parties protected and safe from being scammed or exploited. Users should rest assured that ETHLend got you covered as a result of its nature. Still on security, it might interest you to know that all the pages on the ethlend.io can’t be fully accessed without involving the chrome plugin

Don’t forget the open market place/friendly user interface feature of the platform, that allows you to comprehend every activity going on in the exchange, transactions are made without unnecessary procedures. The interface is also easy to operate.

Lastly, Ethlend adopts a lightning-fast technology that enables users to carry out smooth and rapid transactions across its entire ecosystem.