Yesterday I was browsing through CoinMarketCap looking at the trading volumes and overall trend of the TOP100 projects. I click on Steem and started analyzing the data coming from the various exchanges as Bittrex resumes wallets operation, I wanted to see how well Steem was holding up when I came across get a "Get Loan" tab and I started to dive into the legitimacy of this offer.

It turns out to be another cryptocurrency project making moves in the potentially lucrative cryptocurrency lending space. The concept is nothing new, in fact, I know of two projects currently working on the idea, SALT and Nexo. However, Nexo seems to have a more aggressive portfolio working to incorporate several cryptocurrency outside of Bitcoin and Ethereum.

I notice several cryptocurrency were listed but Steem wasn't on the list of available collateral back loan. That problem seem to be temporary, as projects can apply to get listed as seen above. This idea of a crypto-back loan is something I like from the beginning and it was one of the main reasons I started following the SALT project. I believe this is a venture the Steem team could consider, to give the Steem token holders one more option. There process of getting the loan is quite simple as we can see from the flow chart below.

There is a serious value proposition of the Steem token if the Steem team can get it right. Building the social media platform base on blockchain technology that already works is something every Steemian should take serious. At this current price, it could well mean, buying a Facebook stock at 10 dollars, and we know FB trades well above that. Nonetheless, I understand the realities that Steemians need to cash out to cover expenses and that in itself can kill momentum. Base on this assumption, I think exploring Steem + Nexo partnership makes sense. Most Steemians aren't traders, most would probably buy high and sell low, adding to the frustration. These kind of bridges can really leverage the Steem token and give it extra juice it needs to grind ahead.

Share your thoughts and ideas, is this a venture Steem should consider?