A decentralized peer-to-peer lending application built on top of the Ethereum Network is preparing for its initial coin offering.
ETHLend uses blockchain technology to provide secure and transparent lending for people across the world, with the goal of eliminating interest rate differences by injecting liquidity into local markets by using blockchain technology to enable secure and transparent lending.
“ETHLend solves key issues regarding to collaterals, decentralized credit rating and exchange volatility risks, which enables the concept of decentralized lending experience,” the company said in a statement.
Token sale participants will receive LEND tokens, whose main function is the paying of development fees on ETHLend at 75 per cent of the cost in ETH. The community will be able to suggest additional perks in the future once a full-scale lending market is realized.
Between five and 10 per cent of application deployment fees will be used to buy and burn LEND, with the goal of eliminating unused ETHLend and maintaining LEND’s value.
Pre-sale participants will receive a 20 per cent bonus. The official token sale is scheduled to begin Nov. 25.
ETHLend pre-sale ICO details
Starts: Sept. 25 at 12.00 GMT
Ends: Oct. 25 at 23.59 GMT or when the cap is reached
Raise goal: 2,000 ETH
Amount for sale: 60 million LEND (six per cent of total sold tokens)
Price: 30,000 LEND = 1 ETH
(includes 20% bonus tokens for all pre-sale participants)
Minimum participation amount: 1 ETH
Pre-sold tokens are deducted from the one billion LEND sold on official token sale. An additional 300 million LEND are contributed to founders and developers fund to compensate the current and future efforts on ETHLend and to attract new talent on board.
Official ETHLend token sale ICO details
Starts: Nov. 25 at 12.00 GMT
Ending: Dec. 9 at 23.59 GMT or when the cap is reached
Raise amount: 37,600 ETH
Amount for sale: one billion LEND (deducted by pre-sold tokens)
Price: First 200 million LEND: 27 500 LEND = 1 ETH
(price includes 10 per cent bonus tokens)
Next 100 million LEND: 26 250 LEND = 1 ETH
(price includes five per cent bonus tokens)
Remaining LEND: 25 000 LEND = 1 ETH
Minimum participation amount: 0.01 ETH