Introducing paid accounts

Dear Coinlend user,

Coinlend is online for over one year now - and this wouldn’t be possible without you. So, first of all, we would like to thank you for trusting and using our service!

As we started the service last year as a side project, we never thought Coinlend could become such a big success with that enormous scope. In one year more than 10,000 users have signed up for the service and our algorithm is generating more than 100,000 loans every day. In this period of time, more than 18 million US-$ of interest were generated and the assets under management grew to a high nine-digit US-$ amount.

This success comes at a price: You may have noticed the constant decline of the interest rates over the last weeks and months. The capital Coinlend is providing to the lending market apparently outgrows the demand for capital and therefore the rates are pushed down. The second price we are paying are the increasing server costs and the costs of operation.

To tackle these issues, we decided to introduce a paid model at Coinlend. This model will allow us to kill two birds with one stone. It allows us, on the one hand, to monetize the platform and pay for the operational costs and ensures we can keep up the best possible service and our speed of implementation. Together with the release of the new model, we will release several new paid features like the Quoinex interest import and additional lending settings.

On the other hand, it will allow us to provide a huge benefit for the paid accounts: We developed an innovative algorithm, that allows us to generate superior interest rates for some account by utilizing the capital under management. We can't share too many details about this system until we protected the intellectual property, but we can tell you that this system scales very well and will perform even better with increasing assets under management.

Please understand that for this approach to work, we need to keep a healthy ratio of free to paid accounts and therefore we will have to limit the number of paid accounts. First come first served will be applied. So sign up early to save your spot!

This model allows us to keep offering the service for free while providing surplus value to the paid accounts. There will be two types of paid accounts: The premium and the business account. The premium accounts will be charged a 3% fee for the interest generated and they will profit from a wide range of benefits and additional features over the free account type. The business accounts will be charged a 5% fee for the interest generated and they will profit from all the benefits of the premium accounts and on top of that they will profit from individual support and consulting as well as individual performance monitoring.

Below you will find an overview of the differences between the account types and how the paid model works in detail.

The introduction of the new account types is planned for the first of September 2018. We will keep you up to date.

We hope you understand our decision, stay loyal to Coinlend and value the benefits of the paid accounts! If you have any questions, feedback or comment, please let us know!

More info can be found here:

https://www.coinlend.org/#!Content:Pricing