Hello everyone. In this post, I reviewed on a featured Dapp by the name ETHLend.
INTRODUCTION
ETHLend is a decentralized financial platform built on the Ethereum Network allowing users to either borrow or lend crypto from all over the world.
These actions allow its user get financial help from all over the world and equally offer help as well. This platform can be accessed at the user's convenient time. As a result, it saves the stress to going to the bank, follow so much protocols to borrow money.
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GETTING STARTED ON ETHLend
As you can see on the image above, all the information required there about yourself are important for setting up an account on ETHLend, so be sure you provide the accurate details.
From there, you'll be sent a verification link to the email you used to sign up.
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Once you've clicked on the verification link sent to your email, congratulations! You've signup for ETHLend.
Just before you get to the homepage, you'll be required to creat an ETHLend wallet.
Below is how the page looks like.
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KEY FEATURES on ETHLend
The borrow feature gives you the choice of either creating a loan request or browsing the marketplace for existing offers available. By clicking on "create loan request", you choose your collateral currency i.e. ETH, LEND, BIT, or ERC20 and also your loan currency. It's that simple!
Clicking on "view all request", you're being shown the number of loan request available.
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The lend feature gives you a choice of creating a new loan offer or browsing the market for existing offers. When you choose the "new loan offer", you choose your loan offer currency, insert the amount you have to offer and the accepted collateral for your offer.
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Other features on ETHLend
Dashboard
The dashboard gives information about the user's borrowed loans and the number of funded loans.
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In the image above, I have no borrowed loan nor funded loan. As you can see there, its clearly written " You have no borrowed loans yet".
New loan offer
This feature takes you to where you choose your loan offer currency, insert the amount you have to offer and the accepted collateral for your offer.
New loan request
This feature takes you to where you choose your collateral currency, insert the collateral amount and also your loan currency.
View all offers
This feature shows the number of loan offers available.
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View all request
This feature shows the number of loan request available.
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Wallet
Normally, a wallet is a case where we put our cash or maybe credit card(mostly valuables).
Its function doesn't change here. It holds the money which will be used to offer loans or receive loans.
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Profile
This is where your account profile is being displayed.
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ADVANTAGES OF ETHLend
DISADVANTAGES OF ETHLend
CONCLUSION
RESOURCES
Rating: 4/5
REFERENCES
DISCLAIMER: This content does not serve as a financial advice, be sure you do your own research.
