EthLend - The Start of a Good Thing :)

ETHLEND

TLDR: Ethlend is a customizable Peer-2-Peer lending platform where people can use ERC-20 tokens as collateral in return for Ethereum.

Why is this such a big idea?

Sometimes owning a currency isn't good enough. Using ETHLend people can either leverage their positions, or take out loans to pay off short term obligations. For example..

I purchased TenX Pay tokens during the ICO event. I knew that they wouldn't have a full operation going until Q1 2018 when they start to pay out significant dividends. However, I wasn't going to sell my tokens, because I love my TenX.. At the same time, they weren't doing any good just sitting in my wallet. If I could use them as collateral, and get them back before Q1 2018, then I can use that Eth to participate in more ICO events.

What does the LEND token do?

It entitles you to a 25% discount on the lending functions. There will also be other special privileges given to LEND token holders as the Dapp is improved upon. Over 5% of the revenue generated from this application will be used to buy back LEND on the open market.

The price of lend is already up 50% from ICO, without any major listings.

Who are their competitors?

The two main, LEGITIMATE lending platforms are SALT and WeTrust (none of that Bitconnect B.S.). Salt have yet to roll out their platform, but the hype train is real. Despite having an insane ICO priced at $3, $7 and $10 per SALT, some investors have yet to break even. Right now they have a marketcap over 300 Million USD.

Unlike ETHLend, SALT is centralized and closer resembles how a modern day bank works. You can use your bitcoin as collateral on the SALT platform, which is a definite plus. However, after the recent Nicehash hack, I would be wary of any service that holds your coins in escrow. I know that the LEND team are putting in special precautions to make the platform as Decentralised as possible.

~ think etherdelta for lending ~

I hope you enjoyed my short review.

See ya on the flipside y'all

@Gayboy
www.ethlend.io