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DEVELOPMENT UPDATE: Unboxing the new LEND utility and fee structure

The Ethereum network is the backbone of the various ERC-20 digital tokens. All of these digital tokens have something in common by way of market capitalization defined by supply and demand.

The Ethereum network currently has a total of 120 billion USD in market capitalisation. The following ERC-20 tokens are major value holders with EOS holding 9 billion USD, TRON 4 billion USD, ICON and QTUM with an equal 3 billion USD market capitalisation. Following this, there are at least over 200 other liquid ERC-20 based tokens currently being exchanged, amounting to billions of USD in market value.

ETHLend provides the capability for the blockchain world to unlock the liquidity of these aforementioned ERC-20 digital tokens (with Ethereum itself soon to be ETHLend capable). Practically, any ERC-20 token holder who does not want to sell (close the position) their tokens can pledge these tokens to receive Ethereum for other investments or to finance any goal.

LEND to become the blockchain lending currency

From the Release of the Alpha 0.2 on the 15th December 2017, the ETHLend dapp has exceeded 2.5 million USD in lending volume with approximate of 8.5% interest rate per loan (212 500 USD as interest collected by the lenders so far) and an average loan size of 4.79 ETH.

Today, the medium of exchange (the lending currency) used is Ethereum, which means that ETH cannot be pledged to receive an ETH loan. The ETHLend team is about to disrupt the whole finance world by creating a completely new standard and allowing the LEND token to become the actual lending currency. This will enable the LEND token to grow into a dominant lending currency and used as the medium of exchange for all lending transactions within the ETHLend platform.

By using LEND as the medium of exchange, all loans on the ETHLend platform would be handled in LEND tokens instead of Ethereum. The result is that LEND will become ** the main utility ** that is used for lending and borrowing within the Ethereum network. This will allow all ETH and ERC20 token holders the ability to unlock billions of dollars’ worth of liquidity. ETHLend will do the same with Bitcoin in the near future.

On January 25th the ETHLend team announced their revised list of accepted tokens. The list has been selected carefully and contains 130 tokens in total which can be used as collateral on the decentralized platform. The ETHLend team has extensively researched the market and compared this with reputable websites such as coinmarketcap. The list calculated to a total of 52 billion USD in market cap, with Ethereum market cap itself currently on 120 billion USD. If just 1% of this were used as a collateral for loans on The ETHLend platform, this would mean that over 1,7 billion USD worth of LEND would be consumed for the lending activity, this would amount to over 10 billion USD in LEND at the current USD rate (Over 8x total supply of LEND).

With the LEND token becoming THE lending currency, this would mean that before a lender enters the lending market, they must first purchase LEND (or have LEND already). When the borrower repays the loan, the borrower pays back the lending capital (LEND) and the premium as the interest, which will also consist of LEND.

The ETHLend team believes that with LEND being THE lending currency, this would provide more opportunities for both the project and the LEND token to grow. There might be a drawback that the borrower would need to convert LEND to other currencies first, such as ETH or BTC depending on the needs. However, this creates more opportunities for ETHLend to create more gateways such as partnering with credit card providers to allow spending LEND in real life or the user to convert LEND to ETH or to any other cryptocurrency by using specially designed protocols.

Switching to LEND does not mean that ETH would disappear from our decentralized lending platform. During Q4 2018 ETHLend will deploy the feature to borrow tokens and later on ETH will be used as a collateral to allow the unlocking of over 120 billion USD in liquidity. ETHLend will allow borrowing with Ethereum until the end of Q1 2018. This creates enough time to get the base lending traction and user base ready before switching over to LEND token. The timing is perfect.

We would like to thank our community members for proposing the new utility and special thanks credit goes to William LeGate.

Benefits

– During Q2 when we expect the monthly lending volume to be around 5 000–10 000 ETH (5 000 000–10 000 000 USD) plus the premium (currently around 8,5%) switching to LEND will result in more demand and usage of the LEND token.

– By switching to LEND as the medium of exchange, this means that unlocking any ERC-20 token and even ETH liquidity is done with the use of LEND tokens. LEND becomes the major tool of collateral based lending.

– When LEND is the medium of exchange, ETH can be used as a collateral, unlocking 120 billion USD in liquidity.

– If just 10% of the current ETH and ERC-20 token market capitalisation were to be unlocked with the use of LEND, The LEND market capitalisation would become one the most important tokens on the Ethereum network.

Drawbacks

– Borrowers would need to convert to other currencies and tokens depending on their needs. ETH has more gateways and pairs currently than LEND. The ETHLend team will work to provide more gateways for conversion or spending LEND in real life, such as partnering with credit card providers and exchanges or using protocols to convert LEND to ETH or BTC.

– Lenders would make profit in LEND. This should not be a concern seeing as most of the lenders are in fact both the early stage adopters of LEND token and the decentralized application. There is currently no shortage of lenders. Moreover, LEND could be easily converted to ETH if that is the aim of the lender.

– Institutional users will prefer Ethereum. It is well known that Ethereum is one of the most wide spread cryptocurrencies in the blockhain sphere. However, the aim of Ethereum is to act as the transaction fees to use the protocol (gas) and was never designed to be a cryptocurrency in the first place. Therefore, ETHLend believe that when we are able to provide decentralized lending and the ability to unlock the liquidity within Ethereum and all the various ERC-20 tokens, which amount to hundreds of billions of USD, LEND token is destined to become the main choice for finance in the cryptocurrency world.

Introducing the new fee structure

1. Remove old fees (Q1 2018)

a. Borrower deployment fee

b. Lender funding fee

2. LEND to become lending currency on Ethereum network (Q2 2018)

a. Using LEND as the lending currency on the DAPP and the Ethereum network

b. Removes the debates on security and utility

c. Creates more demand and use for the currency

3. Borrower Fee and Discount (Q2 2018)

a. 0.5% of the collateral tokens is sent to ETHLend

b. Discounted to 0.25% If the collateral is LEND

c. Collected upon repayment or default

4. Lender Fee — LEND as an interest rate (Q2 2018)

a. Premium is repaid in LEND

i. ETHLend collects 10% of the premium

ii. The discount is reduced to 5% in case LEND is pledged

5. LTV (loan-to-value) Boost to 70% for LEND token (Q2 2018)

a. Borrower can borrow up to 65% of the collateral value

b. By pledging LEND, borrower can borrow up to 70% of the collateral value

6. Collateral refilling with LEND token

a. LEND can be used to defends a collateral call by sending LEND to the loan smart contract

7. Preview Feature (Q2 2018)

a. New loan is completely public for funding after 60 minutes when tokens are sent and the state is set to waiting for lender

b. Lenders who purchase the preview feature will see the loans 60 minutes before the loan is broadcasted to the public

c. Cost → 500 LEND for 30 days

8. Featured loans (Q2 2018)

a. Loans will be featured on the front page, which can be only paid with LEND

i. Cost → 250 LEND for featuring 24 hours

9. Late penalty fee reduction (Q2 2018)

a. 5% of the installment amount is charged as a penalty fee

i. 2.5% will be sent to the lender

ii. 2.5% will be sent to ETHLend

b. LEND is used as a collateral

. the penalty fee is reduced to 2.5%, which sent to the lender fully

10. Rewarding active borrowers and lenders with airdrop (Q1 2018)

a. Allocation: 20% of the collected fees

b. Use: Rewarding active borrowers and lenders

c. Half (50%) is allocated to active borrowers based on volume

d. Half (50%) is allocated to active lenders based on volume

e. Rewards can be claimed 30 days after the Q ends

f. ETHLend reserves the right to make changes to the reward plan to ensure fair distribution of rewards to users.

11. Rewarding introducers (Q2 2018)

a. Allocation: 5% of the collected fees

b. Use: Rewarding introducers to ETHLend DAPP

c. Details shall be defined when upon launching the program on Q2 2018

d. ETHLend reserves the right to change the allocation based on volume

12. Protocol Voting Portal (Voting on Suggestions) (Q1 2019)

a. You will be part of the decision making on the protocol level

b. 1 LEND token equals 1 vote

c. Protocol Voting Portal will be launched latest on Q1 2019

d. One example of Voting is the possibility to vote for new potential additions to the collateral tokens list.

The ETHLend team starts the development work on the new LEND utility and fee structure as of today to provide the new experience as soon as possible. Moreover, the next version (Alpha 0.2.1) will have bug fixes and new features such as faster browsing, collateral calling, loan filtering and my loans. More details on the Alpha 0.2.1 release announcement on the upcoming week.

Do you have a token portfolio and need to unlock some of that liquidity you have lying around in your tokens?
Place a loan request by installing Metamask and browsing to the decentralized application. Press help for instructions or chat with us.

Join here our 17.5 K Telegram group to discuss more.

Stay tuned and to keep up with updates join here the new Announcement channel on Telegram.

IQeon Anticipates ICO Success as PreICO Raised Significant Sum

After two preICOs that were a huge success for IQeon, the team is getting closer to the main token crowdsale. IQeon managed to raise the target sum during their first preICO ($1,165,000.00) and even closed it a couple of days before the official closing day. Many inquiries for investment brought to life the additional preICO, which was very flourishing as well.

That’s not a secret why the project is getting so much attention and is capable of getting the profound investment from institutions and individuals. IQeon is a revolutionary platform where players could earn on their gaming achievements and organize PvP bets on literally everything, starting from challenges on “I dare to..” and ending with bets on the results of any game existing on the Internet. This particular option is provided by the open API of IQeon gaming ecosystem.

 

The Blockchain technology backing up IQeon guarantees the protection and safety of the cryptowallet integrated into the personal account of each player. The IQN stored there could be used in any game hosted by the platform and exchanged into any other cryptocurrency via the inbuilt exchanger.

The Main Round of IQeon ICO starts on January 30 and lasts until March 13, 2018. The number of tokens issued for sale is 6.5M and the token exchange rate is 325 IQN for 1 ETH. IQN could be bought with ETH and BTC.

IQeon management team provides the flexible system of discount during the Main Round of ICO.

January 30, bonus is 30%

January 31-February 7, bonus is 25%

February 8-15, bonus is 20%

February 16-23, bonus is 15%

February 24-March 3, bonus is 10%

March 4-13, bonus is 5%

IQeon team is doing all that is humanly possible to make the functionality claimed in the roadmap be introduced as soon as possible. At the same time, IQeon project is actively promoted at conferences worldwide (Moscow, Great Britain, Thailand, etc.).

Everyone is welcomed to participate in the main token crowdsale! For more details, visit IQeon official website or stay connected through social network channels.

Tartu mnt 83-205, Tallinn,
Estonia, Harju maakond,
10115
marketing@iqeon.io

support@iqeon.io
https://iqeon.io

Decentralized News Network Extends Presale Following Successful Start

EDISON, New Jersey, January 30, 2018 — The News curation platform, Decentralized News Network (DNN), is pleased to announce that they are extending their presale, due to overwhelming interest to date. DNN will officially launch the Token Distribution Event (TDE) on Friday, March 2, 2018.

Blockchain powered news curation platform extends token presale to March 2, 2018

Dondrey Taylor, Chief Technology Officer at DNN, expects that the DNN platform will significantly impact the way we consume and interact with news.

“We would like to truly thank everyone for your continued support so far, and to everyone who has committed to our whitelist,” said Taylor.  “Without the community’s help, DNN just won’t be possible.”

Contributors can send ETH or BTC to  the addresses provided by the DNN team. Contributors must use a non-exchange and ERC-20 compliant wallet in order to receive tokens. Once the contributor’s non-ETH transaction has been confirmed by the DNN team, they will be sent tokens proportional to the ETH value of their contribution directly to their wallet.

For contributions not made in ETH, an average conversion rate between the contributed currency and ETH will be obtained using GDAX, Bitfinex, and Bittrex. This conversion will take place prior to tokens being allotted. Contributors who are interested in purchasing more than €15,000 worth of DNN tokens, will be required to go through a Know-Your-Customer (KYC) process.

For more information, or if interested in purchasing DNN tokens during the presale, contact presale@dnn.media.

About DNN

Decentralized News Network is a political news curation platform that relies on a peer-reviewed, community model of fact-checking, publishing, and news dissemination. It’s accountable news that answers to you.

Media Contact

Todd Hauptman
PR Manager
todd@vanbex.com