in #stateofthedapps2 years ago

wglxh41co6.jpgimagesource:Ethlend website

When things get a little bit dicey and the only way out is by getting a loan we all rush to the only financial institution we are familiar with, bank.Whether a business person or an employee, loan is the only way we know when money seems short. Financial institution has always been the only way to get anything related to money because they are the credit and debit facility for humans.

The world today has been futurised by the invention of blockchain.Why worry or run helter skelter when the financial dapps on the blockchain is the answer to your monetary problem.When you are rejected by the bank, do not fret because the blockchain financial dapp is here to stay and help.Worry is not the answer to know, infact do not make these financial institution your first option,blockchain is the answer to your money pain.For its flexibility in loan and payment, blockchain finance has your interest at heart. Looking at all this reasons, this is why I bring to you Ethlend.

Ranking at number 8 on the stateofthedapps featured list,
Ethlend is a decentralized financial dapp built on the Ethereum blockchain by Stani Kulechov as a p2p(peer to peer) platform which is created as a platform to provide either the role of a borrower or a lender to individuals from all around the world.
It provides security and smooth transaction for people who are applying for loan. This loan follows the contact logic process which secures an agreement between the parties involved (that is the borrower and the lender). Just like every other financial institution, a form of collateral is needed to assure the lender of a money back guarantee and also certify the borrower as a worthy party and this makes a win win situation to both party.

Image source:Ethlend website

Firstly, when creating an account on ethlend make sure you install metamask plugin on your device so as to integrate your personal ERC wallet and to make it easier for you to login. During your registration you are presented with an option of either being a lender or a borrower. Your account can also serve as a dual process for the 2 roles but then, there is an added advantage to being a lender because you are also helping to contribute to the platform.

If you are a lender, the accepted currencies on the platform are:

  • ETH
  • LEND
  • DAI
  • TUSD
  • ETH which is pegged to USD, EUR, GRP, INR among others.

Ethlend users are the ones who sets the interest on loans due to its decentralized state unlike the bank that has its interest rate set by a group of individuals, on ethlend.

The collateral stands as a guarantee for the lender in case the borrower absconds with the money and it also helps give the ethlend platform a good credibility.If and when the collateral drops in value, the platform notifies the borrower via the smart contract to increase it.

There is a calculator called loan calculator on the homepage of ethlend that helps you calculate your loan by using DAI to BTC.The slider on it helps you set it to your preferred amount.

r9xzxctf5e.jpgImage source:Ethlend website

This is the official token for this platform and is the same as other ERC20 token which can also be stored in any Ethereum wallet.As an investor on the platform or lender you can stake your DAI to be rewarded with the token called LEND.This token can be sold for FIAT or converted to DIA to the initial standpoint.This staking process determines your level of affluence on the platform.


  • It has a good user interface.
  • Loan duration is between 0-12month
  • You have 100% power over your wallet
  • It has a secured smart contract guarding the borrower and the lender

They excluded United States of America from among the list of countries their service is open to.I would like them to review this because everybody needs a financial stability.

As its name implies ethlend, this platform is helping people by lending financial help in times of need.

I will be rating this dapp 4/5