Overview

Secured Automated Lending Technology (SALT), often termed as a disruptive blockchain based loan platform. It is a membership-based lending and borrowing platform that allow users to leverage their blockchain based assets to secure cash loans. Users are allowed to obtain cash loans by keeping their cryptocurrency holdings as collateral. The paradigm shift in transfer and storage of digital assets through the distributed ledger technology has enabled it to serve as a perfect form of collateral. SALT pioneered this evolutionary leap in lending in which value of borrower's assets are fully recognized and the credit history is also delinked from the process. SALT provides the flexibility to users of getting a loan with any Ad-hoc currency selection with a minimum loan term of 1 hour.

The SALT is an ERC-20 based token and is used in to get access to the SALT platform and its ecosystem.

Problem

Any traditional lending platform including banks or any mortgage company faces four main issues while borrowing a loan

1. Creditworthiness of the borrowers
2. Cost of storing and transferring an asset
3. Cost of liquidation
4. Inflated valuation of assets

These inefficiencies in the system lead to limited access to credit, higher loan cost and deteriorating asset quality of banks and financial institutes.

Solution

With SALT coin, it streamlines every step to loan and simplifies the borrower's application process by focusing only on blockchain assets instead of their credit score. The risk is pretty much distributed and it doesn't impact the SALT ecosystem. The collateral assets are kept securely in a fully audited, ultra-secure architecture during the tenure of the loan which entails confidence to borrowers.

Key Features

Simplified Process: Easy application, fast approval and with no checks on the credit history of the borrower. The money is deposited directly into the bank account as soon as the member agrees to the term of the loan and share collateral into a multi-sig wallet.

Great Economics: Customizable loan terms with competitive interest rates and no penalty on pre-payment of the loan. And, freedom to leverage your blockchain based assets

Accessibility: SALT ecosystem can be used by individuals long-term term investor & day traders and also Business enterprises including exchanges, banks, payment processors, ICOs etc.

Process of obtaining loan from SALT

1. Borrower applies for loan request
2. Lenders posts the terms at which they are willing to offer
3. The member then selects the term of loan which fits their needs
4. Lender then commits cash fund to the loan 
5. Borrower shares their collateral blockchain asset into a multi-signature smart contract
6. Funds are then credited to bank account of the borrower
7. The collateral assets are securely stored during the loan period
8. The borrower makes the monthly payment of the loan and as soon as the loan is repaid, the collateral blockchain assets are returned

Roadmap

Q4, 2017: The blockchain based lending platform launched in the fourth quarter of 2017, initially offering BTC collateralized loans

Q1, 2018: Launch of ETH collateralized loan, Development platform and launch of loan fund

Q2, 2018: Launch Credit Cards

Q3, 2018: Launch of Alt-coins collateralized loan and Launch of SALT foundation

Conclusion

SALT has a great potential for becoming an investment class asset and will help to unlock the value of whole cryptocurrency ecosystem similar to other asset class like the stock market and real-estate. The platform is not only beneficial to borrowers but also to lenders as it will provide an extra source of income and also shield from the volatility of the cryptocurrency. 

Key Links

Website: https://www.saltlending.com/

Whitepaper: https://membership.saltlending.com/files/abstract.pdf