RE: SALT Lending Update: SALT Loans Are Live!!
This is one of the first tokens I am in that has launched their product (loans).
To obtain a loan on your cryptocurrency, you will need to buy SALT. The more SALT tokens you have, the higher amount of a loan you can apply for.
I am not entirely sure what the e-mail meant buy you can use your SALT tokens as collateral or payment based on the SALT token "retail price". The last time I checked, they were selling the SALT token on the SALT website for $25. At this time, CoinMarketCap has the SALT token at $16.8479 USD. It is possible that the CoinMarketCap price will approach the $25 price. I am not really sure.
I do know that as the demand for cryptocurrency loans increase through the SALT platform, the value of the SALT tokens should increase too.
Looking forward to a SALTy New Year!
Steem on,
Mike
Yeah I think salt has big potential. The main problem I think it faces is if say someone put a 1btc collateral loan down and the price was 15k at the time. Let's say they got a 10k loan from that then the BTC price dips to 9k. It would be economically beneficial if the borrower just used the loan to buy BTC and not pay the loan back as they would increase there BTC holdings. Obviously this depends alot on salts max loan based on market price so they could just lower the max loan to help overcome this. I'm not sure what there max loan is as a percentage of colateral but was just thinking in this volatile market that certainly could happen.
That being said I'm bullish on salt as I feel eventually the spare tokens not sold on the platform will go into the platform as it's cheaper for the borrower to do that and the supply on exchanges will go down until the price is just slightly below that of the platforms (a long term price move).