The month of April had been a productive one for the CoinLoan team. Besides dozens of invisible micro improvements, we’ve presented two major system updates, a new cryptocollateral family member and an intention to launch IEO.
Further details will be found below in the CoinLoan monthly update. With those who read the post till the end, we’ll share our plans for May.
CoinLoan Is First to Offer Loans Secured by Monero
Have you ever wanted to use your XMRs as collateral? There is a place where you can do it easily.
CoinLoan has become the first on the market to accept Monero as collateral. Now you can borrow fiat (USD, EUR, GBP, RUB) and stablecoins (TUSD, GUSD, USDC) against privacy oriented coin Monero (XMR).
New Fees Structure at CoinLoan
CoinLoan changes static fees structure to а dynamic one to enhance our users’ experience and to meet market demands. From now on, the commission paid in tokens is based on the loan amount and on the tokens’ current market value. It’s fully transparent and can be calculated easily. CLT holders can take advantage of this update and enjoy preferential fees cut by 50%.
CoinLoan Beats Volatility and Increases LTV Limit to 70%
This month we’ve rolled out a revolutionary Dynamic Collateral Monitoring System. In a nutshell, your cryptocollateral is now far less vulnerable to crypto fluctuations.
A margin call may only occur if your LTV ratio crosses the line of 90%. The exact point of liquidation is estimated for each loan individually and depends on the interest rate. The fact that cryptocollateral can now resist market fluctuations allows us to have one of the highest LTVs on the market and to raise LTV limit from 60% to 70%.
CoinLoan IEO is Coming!
The big news of April is that CoinLoan is preparing for an Initial Exchange Offering. It’s a significant opportunity to boost the platform growth, primarily in the field of product services expansion and global licensing.
IEO activity will raise platform awareness and the number of users. The power of P2P technology comes from the network, so the more users, the better for everyone.
What Will Happen Next?
Needless to say, we’ll concentrate on a fundraising campaign during the next month. But beyond that, we’re working on some major platform updates we think you’ll like. Will you like crypto-to-crypto lending and Visa/MasterCard payment methods?😍
We’re also preparing a little survey to determine the next cryptocurrency to add. Will it be XPR or EOS? Or a different one? Subscribe to CoinLoan newsletter in order not to miss your chance to vote for the next new collateral.
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