Crypt-ON is a blockchain based peer-to-peer crypto lending and Multi-services platform that aim to provide a safe trading environment for users.In this article i will focus on its peer-2-peer lending service which is one of the most important feature.
Cryptocurrency lending is one of the trending blockchain services thesedays. Unfortunately most of the services aren't doing quite well at the moment due to non-viable models.
With Crypt-ON , you wouldn't have to worry about lending your cryptocurrencies out to borrowers who won't pay back as there are inbuilt mechanism to guard against fraud and repayment default.
Crypt-ON also provides important services that makes it unique in the cryptocurrency lending business. Some of the services are:
DAO. DAO is Decentralized Autonomous Organization in full. It is a form of Blockchain organization with no central leadership. Decisions are automated and based on rules laid down on smart contract. This will allow business to be conducted on the platform in a decentralized manner and without the need for third party/centralized influences
Escrow Service. Inbuilt Escrow service will provide a secure way to hold funds on Crypt-ON Platform on behalf of either party until stipulated agreement has been fulfilled..
Stable Coins. Stablecoin is a digital currency that is pegged to fiat or stable commodities like gold and silver. The use of stable coin on Crypt-On is to protect its economy from the extreme volatility of cryptocurrency. Decentralized Stabecoins such as DAI and LibreCash are our top choices for the platform.
Trust-token. Trust Token is a Reputation based token that will be adopted for Crypt-On platform. Trust-token permanently records all ratings of Crypt-On users . The ratings will be used to determine the credit worthiness of users. If a user fails to repay his loan or violate a contractual agreement he will be rated negatively and he will find it hard to obtain loans on the platform.
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