When you hear "free money," understandably, you think "what's the catch?" But hear me out guys.
There is currently a huge arbitrage opportunity with SALT Lending right now.
SALT is trading at $17 on exchanges but within the SALT system, tokens are valued at $27.50. But, with the launch of the platform SALT announced they will accept the SALT token as payment for both interest and principal. Furthermore, they will accept the tokens at the full retail value. I’m assuming they are doing this to market their business and to get more tokens out of circulation back into their platform. They will resell them for $27.50.
- Buy $15,000 worth of SALT tokens on the open market
- Take out a loan for $25,000 from SALT
- Pay off the loan with your tokens (they only cost $15,000 but are valued at $25,000)
- Pocket $10,000 USD profit, ala arbitrage from a loan
So you do need to have some deep pockets to pull this off. IOW, if you are desperately needing a loan, this ain’t going to work for you. To get a loan with SALT you must put up 125% collateral in BTC or ETH for the loan amount. So in my prior example, you need to be able to float $46.2K to pocket $10K. eg: A loan of 25K needs collateral of $31,250 and you need $15,000 to buy the tokens on the exchange to repay the loan.
Learn more about SALT and register here: https://membership.saltlending.com/register?r=PFifU
This arbitrage opportunity isn't going to last forever.