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SALT price today, SALT to USD live, marketcap and chart | CoinMarketCap

What Is SALT Lending (SALT)?

SALT Lending is a blockchain-based lend platform that offers users cryptocurrency-backed loans. Users deposit any combination of accept tokens — such as Bitcoin ( BTC ), Ether ( ETH ), Litecoin ( LTC ), Doge ( DOGE ), DASH ( DASH ) or SALT ( SALT ) — as collateral to receive a loan in the form of a decree currency or stablecoin. SALT Lending has a native token, called SALT, that can be spent to reduce the interest pace on a lend and can be used as a secondary coil form of lend collateral. presently, SALT is cashable at a $ 7.50 value for sake reductions on loans, a policy and valuation which are submit to change. The company was launched in 2016 and is operated by Salt Blockchain Inc., a for net income entity, Salt Lending LLC : Salt Master Fund II, LLC – NMLS 1711910 .

Who Are the Founders of SALT?

SALT was founded in 2016 in Denver, Colorado by a group of Bitcoin enthusiasts and finance professionals, who aimed to bring to the market a product that enabled its users the ability to leverage their cryptocurrency to secure a cash lend while retaining ownership. SALT introduced asset backed lend to the cryptocurrency market with the original blockchain-backed lend, providing a new degree of versatility to digital asset holders seeking fluidity.

Fast-forward to today and you discover a regulate and licensed ship’s company that builds not alone crypto-backed lend technology but besides scalable, see institutional-grade crypto detention and blockchain monitor products. salt immediately has over a 40 person team of core employees, technical developers and advisors with know in assorted spheres .

What Makes SALT Unique?

According to its whitepaper, SALT was the beginning supplier of cryptocurrency-backed loans creating the recess lending grocery store. The ship’s company is regulated and holds numerous lend, collection and loan servicing licenses. SALT enables multi-collateral loans with cook rates, elastic terms and respective loan to rate ( LTV ) ratio options. Payouts are available in both cash and stablecoin. Prepayment penalties and bank-style origin fees are waived. The maximum loan-to-value ( LTV ) proportion ranges from 30 % to 70 %. The interest rates vary based on the selected loan term and LTV. The platform besides functions as an insured cold storage wallet, and hosts its own SALT nominal which users can leverage to decrease loan sake rates among other things. The ship’s company lends in the United States and internationally, to individuals and institutional entities such as mine businesses and hedge funds. The party has alive customer service, customer confirm and best-in-class complaisance programs to meet the needs of its users. The SALT Platform was designed with the volatility of cryptocurrency and wealth preservation in mind. In the event of a margin call, assets are mechanically converted to a stablecoin in stead of elimination, a unique feature in the lending distance. here ‘s how it works :

  • When a loan reaches a forced liquidation LTV, instead of immediately selling collateral assets to restore the health of the loan, the SALT Platform converts some portion of the collateral assets to a stablecoin thus preserving collateral value.
  • Once the health of the loan has been restored, the borrower can ask to convert the loan collateral back to the original cryptocurrency assets, such as BTC, ETH, LTC, etc…
  • This gives users the opportunity to convert assets as the market is coming back up, creating the potential for users to not only preserve wealth, but grow it.

The SALT Platform has a loanword health telling organization consisting of electronic mail, earphone, text and app alerts, available in both io and Android. Notwithstanding a general policy of giving borrowers notice of a margin lack. The system may liquidate or convert pledged assets without notice to borrowers to ensure that minimum care requirements of the loanword are satisfied. The extermination or conversion of pledged assets could result in adverse tax consequences. SALT advises borrowers to consult their tax adviser in decree to amply understand the implications associated with pledging digital assets as lend collateral .

How Many SALT (SALT) Coins Are There in Circulation?

SALT has a fixed supply of 120,000,000 tokens.

The native nominal of the SALT Lending chopine is SALT. It performs a number of user-related functions and is freely tradable outside the chopine. SALT had an initial mint volunteer ( ICO ) in 2017. The presale and crowdsale took approximately 67 % of the token issue, with the remainder presently held in department of the treasury by SALT Blockchain Inc. In September 2020, SALT paid a $ 250,000 all right and reached a settlement with the SEC related an investigation of its ICO. As a resultant role, SALT Blockchain Inc. agreed to publicly register the SALT nominal as a course of security under section 12 ( deoxyguanosine monophosphate ) of the Securities Exchange Act of 1934 and to inform ICO purchasers of their mighty to submit a claim to recover the consideration paid, amongst other settlement terms .

How Is the SALT Network Secured?

The Salt Platform holds assets within cover cold storage and is responsible for the security of its networks and user funds. Within the Salt Platform, keys are generated offline, store offline, and transactions are signed offline, which the company reports drastically reduce cyber security threats as keys are never exposed to a network-connected device. The multi-signature security action ensures that no single party can move exploiter funds. Key encoding and layers of distribution secure user funds against both internal and external threats. The Salt Platform utilizes a detention framework for safekeeping cryptoassets with people, processes, and technology. Its native token, SALT, is an ERC-20 keepsake issued on the Ethereum blockchain, meaning that any on-chain SALT transactions are validated and secured by the Ethereum mainnet. Miners compete among each early to add new blocks to the blockchain, and a majority of all nodes in the network must validate a record for it to be posted .

Learn about NEXO, another crypto-collateralized lending chopine. Learn about CEL, another crypto-collateralized lend platform.

Learn about Compound, another popular crypto lend platform. curious about oracles ? Read an in-depth guide on Alexandria, CoinMarketCap ‘s on-line educational resource. Stay up to date on the latest in decentralized finance and crypto lend with the CoinMarketCap Blog .

source : https://leowiki.com
Category : Economy

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