ETHLend’s token is very hot. CNX is already available
ETHLend is a great financial marketplace. It’s fully decentralized, built on top of the Ethereum Network. This platform allows lenders and borrowers from all over the world to create a peer to peer lending agreements. It offers a secure and transparent service by using Blockchain and Smart Contracts.
Lending crypto-to-crypto removes the need for intermediaries, such as banks to be the only available option for borrowing. By placing a loan request on the ETHLend platform, lenders will be able to fund loan requests all around the globe. They will have to compete to provide the best interest rate, though. Both individuals and institutions can use this trustless and transparent platform.
ETHLend.io introduced decentralized lending on the Ethereum network. It uses ERC-20 compatible tokens, as well as Ethereum Name Service (ENS) domains as collateral. The company aims to solve the problem concerning the loss of loan capital on default. For example, in healthy loan relationships, the borrower pays the loan back. But the pseudo-anonymous nature of the Ethereum blockchain network opens the possibility to avoid repayment of the loan. That happens when the lender doesn’t have all the necessary details of the borrower to enforce the debt’s payment in the borrower’s jurisdiction.
Furthermore, enforcement in a decentralized environment, where the users can be from any part of the world, might not be efficient. Thus, ETHLend will provide decentralized solutions to avoid loss of capital. It will make one true global lending market available.
What about the LEND token’s ICO sale?
The company has already ended its ICO sale. During the pre-sale, it traded 62 500 000 LEND tokens, which is 6,25% of the total supply. Investors could exchange 1 ETH for 25 000 LEND. Tokenization of value fuels ETHLend. People will use ERC-20 compatible tokens as collateral to secure loans on ETHLend. When a token has value, users can pledge it to secure the repayment of the loan. That means that the borrower will have to promise to give up the pledged token for the lender if they do not pay the loan back. Pledging is common in the finance industry. However, the most commonly used collaterals are real property for a mortgage, as well as pledging shares of a listed stock company.
Still, tokenization is growing and it offers new possibilities. There are already a few dozens of ERC20 tokens on the market that have significant value. Traders sell and buy them in cryptocurrency exchanges. Each week, creators launch new token crowdsales. The ETHLend team believes that soon there will be even more tokens that are open for trade. This means that there would be more tokens that users could pledge for a loan at ETHLend.
Moreover, nowadays the tokens have many different representations. One of the interesting ones is the tokenization of commodities like gold. At some point, it will become convenient to place a house or a new solar power plant as a coin and trade it or pledge it to receive finance. ETHLend users will benefit from that too.
The CNX-Network is also offering its trending token. What about CNX?
The CNX team launched its native utility token today. The initial coin offering will end on September 30, 2022. The price of 1 CNX is 0.008 USD during the ICO sale. While the total supply of tokens is 12.100.000.000, not all of them will be available at this stage.
This company offers the first sustainable worldwide blockchain technology network. It will provide encrypted, and interconnected applications, with the same familiar interfaces that people use in daily life. However, those apps will run on their own blockchain and currency.
Moreover, CNX plans to build various platforms, all connected to the CNX Network. It offers customers investing at the beginning of the project to choose from 7 quintessential apps. In addition, the team speaks about the possibility of the network expanding beyond 100 applications. The latter already boasts 200K users.
The team has first introduced the CNX-Miner app. Thanks to it, the company has gained over 200.000 customers and started creating its community. With this community, the company will test out all of its applications and make them all a success.
The team declared that it also invests in its community. The founders invite all developers and companies with great ideas related to the CNX-Network vision. They can apply for the CNX Investor program where the team will only introduce high-end products to its community.
What about the CNX-Network’s features?
The company plans to invest the CNX tokens in developing various services and functionalities in the future. It also wants to create its own NFT Marketplace, as well as a special CNX Prepaid Card. However, the team noted that those are one of the many services it will provide in the future.
According to the CNX-Network, NFT Marketplace will allow customers to divide their NFTs into “Fragments”. As you know, Non-Fungible Tokens (NFTs) are digital currencies created from artwork or some other kinds of creations and digital artefacts. In the case of CNX-Network, the latter will be called ‘Fragments’.
The company stated that NFT Fragments are in reality fractions, and they in total represent the sum ownership of an NFT. You can think of them as partial ownership of an asset, or merely a digital collectable. Each piece will represent a proportional percentage of the NFT. As a result, by controlling all Fragments, the customer will own the NFT as a whole, along with the underlying rights thereof.
Moreover, don’t forget about the airdrops. A crypto airdrop is usually a promotional event for a new blockchain-based service. In an airdrop, the company gives users free crypto coins or tokens. Those looking to participate in an airdrop need a crypto wallet to do so. CoinX planned 6 airdrop events for holders of CNX-Coins.
The company will also provide CNX Creditcard. Customers will be able to make transactions worldwide thanks to CNX Prepaid Card. It will have Visa global coverage and allow people to send or receive money easily. Essentially, the CNX Prepaid Card app users will be able to enact simple transactions, and purchases, as well as withdraw money from an ATM. Using the CNX Prepaid Card app on a smartphone or tablet device will also give customers full access to all their card spending.