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RE: SALT Lending — Hold your assets, get your cash.

in #cryptocurrency • 7 years ago (edited)

Yep exactly. The borrower hands over the asset, receives their loan, makes payments over time, and the asset is released once the loan is paid. The borrower retains ownership of the asset, and can also even sell the asset to repay the loan if they need to. Check out their FAQ they've done a good job.

Looks like it just moved to the next tier of $5! The $3 tier went by so fast, I was watching it.
I think the next one after this is $7.50

7 years ago in #cryptocurrency by
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     7 years ago 

    Saying that though, it is ok if the value of your token goes up or stays the same. What if it falls? You would find yourself in negative equity, where the value you have to pay back is more than the asset is worth.

    Although I guess it is the same with any loan against an asset.

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       7 years ago 

      Found that answer for you:

      If the value of your blockchain asset rises, you may have the option to: add the increased value to the principal of the loan for additional capital from the lender or do nothing but continue to make payments according to the terms of the Lending Agreement. If the value of your blockchain asset drops enough to cause a breach of the agreed upon loan-to-value (LTV) threshold, you will be contacted by SALT Lending for a Collateral Maintenance Call. You will be given an opportunity to either add additional collateral or make an additional principal payment, bringing your collateral account balance back into equilibrium. The options available to you depend on the loan terms agreed to at loan origination.
      Source

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