Lendo ICO & Token Sale
Lendo brings together the world of crypto and fiat currencies to provide the value of crypto holders and a new market for lenders and merchants. It is a lending platform which will allow licensed and regulated lenders to lend fiat currency against crypto collateral. The platform will provide loans, crypto asset trading, credit and debit cards and services and merchant services. It will provide a complete banking ecosystem for crypto asset holders. Lendo is powered by the Lendo token, which is known as the Ethereum Lendo Token (ELT).
How Lendo works
First, the cryptocurrency collateral is deposited in the secure Lendo Vault. Borrowers will always be able to see that their funds are safely stored there when they log in the lendo website. The crypto assets are placed in ‘cold storage’ which means they are not stored online. Borrowers will not be able to access their collateral until repayment of the loan is successfully completed. A borrower’s pledged cryptocurrency stored in the Lendo vault will rise in value at the same time as it would have in their wallet or on an exchange. The borrower’s crypto assets will be returned to them once the loan is repaid via an optional multi-signatory smart contract.
Lendo revenue stream includes:
- Received a percentage of loan interest that the lender charges to the borrower
- Building a network of lenders who pay a monthly fee for the software services
- Make a margin on exchange platform trades
- Charging a small loan arrangement fee to borrowers
- Charging vault fees and credit/debit fees from all its users.
Advantages of Lendo
- Lendo brings a breath of sanity to a crowded and confusing marketplace. Lendo delivers an impressive team of professionals and a compelling roadmap for growth.
- Offers a limitless potential in the UK consumer credit marketplace.
- Being one of the first movers in UK lending industry which have been slow to adopt blockchain technology gives Lendo the advantage
- Lendo offers tools, expertise and technology solutions to enable lenders to accept cryptocurrency as loan collateral.
- Lendo forms the bridge between conventional lenders and the growing crypto community.
Ethereum Lendo Token (ELT) is a hybrid, peer-to-peer cryptocurrency that utilizes the Ethereum blockchain for fast and affordable transactions and is limited to only 1,200,000,000 fixed units. ELT is not mined. ELT token is based on an ERC223 standard which provides increased security and lowers fees. The Pre-ICO will run until the ICO is launched in April 2018 or unit sold out.