SALT Lending is a new Ethereum token that will allow users to obtain US Dollar cash loans in return for Bitcoin and Ethereum blockchain based assets. No credit check will be required and your crypto will serve as a collateral for the cash loan.
SALT is a membership-based lending and borrowing network that allows users to leverage their blockchain assets to secure cash loans. On the SALT platform, users can obtain loans using their cryptocurrency holdings as collateral.
With SALT, users can leverage the value of certain digital assets, thereby giving them access to cash, offsetting tax events, avoiding exchange fees and maintaining their long position in the asset they hold.
Users need to obtain SALT tokens in order to participate on the platform and obtain loans. The more SALT tokens users spend each year, the larger amount of borrowings they can obtain.
With the SALT platform, users can obtain liquidity from their cryptocurrency holdings without selling them, just like other traditional asset classes such as stocks, bonds, real estate, and commodities.
SALT loans are exclusively collateral-based, which means that the borrower’s credit history is inconsequential. Any user’s collateral has the same value to lenders as anyone else on the platform, regardless of each user’s credit score.