Lendo (ELT) ICO Review – ICO Token News
This is “Lendo – Our Vision” by Lendo Platform Limited on Vimeo, the home for high quality videos and the people who love them.
Up until now, cryptocurrency owners haven’t been able to use their crypto assets as collateral when they need a loan. This limitation points toward a wide gap between conventional lending and cryptocurrency. In order to add value to the traditional banking landscape, a revolutionary Fintech innovation is required.
Enter Lendo—a next-gen peer-to-peer lending platform that’s decentralized and based on Ethereum. In short, this is one sturdy platform that’ll connect borrowers with lenders worldwide by using a range of groundbreaking blockchain technologies (similar to other ICO tokens such as Cappasity, Lotuscore, DIW, Koios, BunnyToken, Seal, Streamity, Upline ) including smart contracts.
Let’s get to know a bit more about this ecosystem and whether it’s worth investing in it.
The Lendo ecosystem, which is built by a core development team in the UK, uses proprietary software to open new personal-loan markets. These markets allow many traditional lenders to accept cryptocurrency assets as complete collateral. With this network, the lending market is expanded and the lenders won’t be limited to offering loans in their own registered jurisdiction. This network will also enable the UK loan market to expand worldwide.
Lendo’s core product has already been embraced by a range of FCA–registered UK–based lenders, and this is likely to draw a lot of investors to this ICO project. With the help of this platform, a cryptocurrency owner is allowed to access the real-time value of digital assets without putting them up for sale on any crypto exchange.
By letting both lenders and borrowers go from local to global, the Lendo network will offer a win-win situation for both parties. Put simply, this solution-focused platform will transform the way crypto-asset holders interact with exchange markets in the future.
Making crypto the collateral
The Lendo platform has been built on a blockchain, and that has enabled many traditional lenders to offer loans against cryptocurrencies. By using crypto assets as collateral, cryptocurrency owners will change the way the lending business works once and for all.
Making lending more economical
By bringing the power of a blockchain and smart contracts, Lendo has made lending more economical than the conventional lending business. The traditional lending world involves a lot of credit checks, which can significantly raise the overall cost of the process. Lendo bypasses such credit checks, and that’s how it brings down the processing fee associated with a loan.
Adding true utility to the token
- Lendo’s token is a true utility as it has a dual use.
- The tokens will offer access to the robust, comprehensive Lendo vault.
- The best part is that these tokens will also be used as collateral inside the vault.
- The token holders in this platform are allowed to trade the tokens against other currencies listed on the Lendo exchange.
- The token and its platform provide a secure, simple solution to every trader who is interested in actively selling and buying different crypto assets.
Bringing security through specialized wallets
- All the funds inside Lendo are safely stored in four different wallets: warm wallets, cold wallets, ice wallets, and hot wallets.
- If you have a main account in Lendo, all your main funds will be stored inside a cold wallet; whereas, all the funds that are frequently used for transactional purposes are stored inside a warm wallet—this helps to avoid any loss of funds.
- The hot wallet, however, is chiefly used for temporary storage and depositing.
- Lastly, the ice wallet is meant to store all the funds that are put as collateral for any loan that’s offered by a lender registered on this network.
- Also, to add a fresh layer of security, the ecosystem follows predefined AML and KYC procedures for all its users.
Introducing the Lendo vault
The development team behind this platform is even building a dedicated Lendo vault that’ll be absolutely Quantum safe. This vault isn’t bound to any specific location, and that’s why it can’t be compromised by many factors including force majeure. This vault is one of the most robust security features of the entire ecosystem; the vault is constructed in a segmented way ensuring that the stored data (assets) won’t be compromised easily.
Lendo Token Sale
This platform is a 100% self-funded crypto project that doesn’t rely on any sort of external investment. One major development related to Lendo includes the launch of a token that’s native to this platform. This token will provide the best utility for users who share the platform’s vision and believe that the project will deliver returns in due course.
- The token is based on the Ethereum blockchain and complies with the ERC–223 standard.
- The Lendo ICO’s sale will begin from March 2018 to June 2018.
- Ethereum Lendo Tokens or ELTs supply limit is set at 1.2 billion.
- One token price: € 0.20.
The core development team behind this project includes experienced business professionals who belong to the traditional financing world. In addition, the team is comprised of many blockchain experts who are ready to bring a cutting-edge Fintech innovation based on blockchains and smart contracts. The team is also working hard to make this network evolve as a robust solution that’ll connect crypto-asset holders with lenders.
Put simply, Lendo is very uniquely positioned as it’s the first-ever lending ecosystem based on a blockchain and cryptocurrency—and the best part is that this network has a global reach. That’s why it makes much sense for investors to join this ICO sale.
As a participant in this ICO sale, you’ll be part of a multi-billion financing and loan industry. This is an industry that can be transformed through a lending platform with its own regulated, licensed partners in the UK. In the meantime, this lending network will be successfully extended across the EU and the world.
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