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Overview of SALT
SALT (Secured Automated Lending Technology) is a financial platform based on membership set to become the first lending platform to issue loans guaranteed by Bitcoin and other cryptocurrencies. It is an ERC-20 token and shall be tethered to Ethereum smart contracts making it possible for borrowers to access capital on demand made availed from a wide network or an ecosystem of lenders. For vetting, they carry their own KYC and AML checks.
Using SALT, users can peg the value of certain digital assets and in the process be able to access cash with advantages such as offsetting tax events, being able to avoid exchange fees and maintaining their long position in the asset they hold. The obtaining of loans is contingent upon acquiring SALT tokens. The more the tokens used, the larger the loans a user can obtain.
Liquidity can be obtained from cryptocurrency holdings without the need to sell them in similar fashion to other traditional asset classes like bonds and stocks. The loans are based on collateral and credit history of a particular user is irrelevant.
Founder: Shawn Owen
Release Date: March 2017