I shall start with a paragraph taken from their website
"Lendingblock is an open exchange for cryptocurrency loans, where borrowers and lenders are instantly matched in simple, safe and transparent way.
Put simply, we’re introducing securities lending to the crypto world. "
I can't wait no more, wanna register now!!!
So there you go guys. This initiative is the precise thing that the crypto universe was missing in order to have a full crypto buy - exchange - hodl/LEND - earn experience.
So their platform is an environment where you can borrow other people's cryptocurrencies by locking up your cryptocurrencies as collateral . After lending your crypto, you receive as a loan another cryptocurrency .
Alright. But I didn't get it. Why would I want to lend my coins? Or to borrow?
I will answer briefly to both of them:
I. Lending
Well the first answer would be that it will be useful for the HODL-er in you. I know some of you guys sometimes stay in Yoga positions waiting for the price to go up, I know you do. This is exactly for you.
Get paid for waiting.
II. Borrowing
Well other group of entities that live in the crypto universe have the third eye opened that is a continuous streaming of heavenly esotheric tips on how to get rich and help the poor people. Those visionaries know beforehand that a coin's price will fall lower than the forbidden angels felt into the heart of the Earth. At that moment they will bet on the whispered tip and borrow from the all zen guys waiting for best to come.
So here you have it. But this is just the begining, only my way of viewing the idea.
This article is so boring, I should REGISTER right now
Further on, I will expose their reasons for people to actively participate on the platform.
Now let's stop for a moment and understand better why this new ICO is such a HUGE DEAL. There are four key parts that I want to enumerate for you guys in order to get a sense of what their platform will be all about.
This is a concept of increasing the number of the coins that you currently have by betting that the price will fall in the future and you'll buy it at a lower price, thus gathering more of the coin bought.
So on the platform will work like this.
Let's say I own 1 BTC (I wish!!!) at a price of 8.000 $ . Alright.
And I am putting a bet that the current price of ETH (which let's suppose is 1.000$) will go down to 500 $. Alright. I will lock my BTC and receive instead 8 ETH which have the same value at that specific moment.
1 BTC < = > 8 ETH
Awesome. Now I will sell these 8 ETH and get a value of 8000$. I am lucky and my prediction becomes reality . The price went down to 500$, which means that I can buy 16 ETH.
That seemed very risky. But it's worth it.
Now I have to give back the 8 ETH that I have borrowed + the guy's interest for lending me his ETH. I am a good guy, I leave also a big tip. So altogether I pay him 1 ETH.
16 ETH - 8 ETH = 8 ETH
8 ETH - (payment + tip) = 7 ETH (PROFIT!!!)
Now I own 1 BTC (the same that I started with) and an additional 7 ETH . Isn't that an awesome deal?
"A hedge is an investment that protects your finances from a risky situation" took the definition from here
As of my understanding, you borrow from someone their coins, bet that the price will go down, get some profit out of it and use it to support your finances or cover your losses from other assets that you own.
Means borrowing ETH at a price of 1.000$ on Kucoin and selling it for 1010$ on Binance. You get an interest of 10$ per ETH bought.
This means pretty much taking advantage of the different price of the same asset on different markets . This is less riskier than shorting in my opinion.
Simply put, it goes like this.
I have an obligation to somebody, gotta provide him with a chair for his grandma. I have a chair selling company.
Because of some transportation issues, the chair hasn't arrived in time. I will go and borrow a chair from another company, give that grammy a nice place to stay and relax by the stove and support the consequencies of my employees being complete incompetents in providing the chair in time.
So I made a promise of giving somebody ETH at a certain time. I will borrow somebody's ETH and give it to the person, thus keeping my promise. That is pretty much it.
So these are the four utilities found in the whitepaper.
Going further, I want to say why this platform will have a HUGE DEMAND.
As already seen on the market, Salt Lending platform is active and has already put through 23 mil $ of loans and have other millions to process. This is their competitor already on the field that has proven the big demand for such a need. This platform pays people FIAT to lend their coins.
Alright.
Now that we are done with the arguments, let's continue with the team.
The team has an unbelievable experience:
I would bold, italic and also increase the letters of every item on the list to show how great is their experience in the field. But I trust you and the fact that you indeed read everything that I wrote down here.
As you can see up here the team is led by massive leaders having a lot of experience in the field and knowing how the things work right before tackling them.
That looks heavenly good to me. It does for you as well, right?
At this very moment they are on pre-sale that will end March 16th.
Public sale will start on 23rd of March and end on March 30th.
I really believe in this project.
Will you do the same?
Waiting for you on the boat!
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