We are proud to announce the successful launch of the DAGT Dapp. The main aim of DAGT is to provide users access to crypto-backed loans. This includes both being able to lend out money as well as take out a loan. We would like to remind you of some of the key benefits that you can receive by using the DAGT Dapp:
(1) Crypto as collateral
This is perhaps the biggest benefit that DAGT gives to its users. If you went to your local bank and said you had Bitcoin as collateral for your loan, the local banker will probably laugh or only have a vague notion of what Bitcoin even is. Major banks are simply not yet accepting cryptocurrency as collateral. DAGT allows its users to leverage the cryptoassets as collateral for loans. This also protects user lending. The cryptoassets will be automatically liquidated in breach of contract protecting the lender.
If you have ever applied for a loan at your bank, you probably know how big of a headache is. First, you normally need to actually go to your bank. Next, you wait in a long line to finally talk to a banker. You make your request and they will need to see many documents to prove your creditworthiness, including things like employment records, tax records, proof of insurance, and other personal/records/documents. After this, they still need to review your application. This process could easily take several weeks.
At DAGT, you can apply from the comfort of your home. You can also lend/invest just as quickly.
As everything is recorded on the blockchain, there is a complete amount of transparency. Everything is in public and available for all to see. This gives comfort for both users that are taking a loan and lending money.
Everything is recorded and locked into smart contracts. This significantly reduces counterparty risk as the smart contracts will automatically execute once pre-set conditions are met.
(5) Don’t need to sell crypto assets
By using your crypto as collateral for a loan, this means you are not forced to sell it. You can repay back your loan and keep your precious crypto assets. This is especially important with the fact we are at the bottom of a very nasty bear market. This gives you the liquidity you need while keeping you from selling at an unfavorable time.
For more details, follow DAGT on our social media platforms.