Salt Lending (SALT) is an ERC-20 compliant token developed on the Ethereum blockchain. Salt Lending is a platform for lenders and borrowers. The platform currently offers four cryptocurrencies (Bitcoin, Ethereum, Litecoin, and DogeCoin) as collateral in exchange of a cash loan. Salt Lending platform offers three kinds of memberships i.e Base (1 SALT per year), Premier (10 SALTS per year) and Enterprise (100 SALT per year). The maximum amount of loan against each membership is $10,000 for Base,Show more [+] $100,000 for premier and $1000,000 for Enterprise. The lenders on the Salt Lending platform gets various services and needs to pay for a SALT membership. The loan process starts with the lender who posts the terms at which the user is willing to lend. The borrower deposits their crypto assets to the multi-signature smart contract. Funds in the form of Fiat cash are deposited into the borrower's account. The borrower pays the monthly interest on the loan. When the loan is paid back, crypto assets are returned.
Salt Lending platform uses Salt Oracle to create smart contracts for each loan. Salt Oracle also monitors the value of blockchain asset held as collateral, generate alerts if the value of blockchain asset drops below a limit, and liquidation of collateral according to loan terms.
Salt Lending platform is regulated under SALT Lending Holdings Inc founded by Blake Cohen. He is also the founder of Broker Associate. Shawn Owen is the present CEO of Salt Lending. The team consists of 17 other members. Salt Lending has a group of four advisors.
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