Price
$0.000235
12/2/2022, 3:01:48 AM
diamondHands

Buy BankSocial with Coinbase Wallet

BankSocial can be traded using Coinbase Wallet, your key to the world of crypto.

Market

Market stats

Market cap

-

Volume (24h)

$6,542.70

Circulating supply

-

All time high

$0.0100

Price change (1h)

-0.26%

Price change (24h)

-7.84%

Price change (7d)

-1.29%

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BankSocial is on the decline this week.

The price of BankSocial has fallen by 1.29% in the past 7 days. The price declined by 7.84% in the last 24 hours. In just the past hour, the price shrunk by 0.26%. The current price is $0.000235 per BSL. BankSocial is 97.65% below the all time high of $0.0100.

The current circulating supply is 0 BSL.

About

What Is BankSocial (BSL)?

BankSocial (BSL) is a peer-to-peer social agreement lending platform that aims to revolutionize the usage of blockchain for lending. As per the whitepaper, the platform claims to be secured by the Ethereum blockchain. The vision is to be the first lending platform built from the ground up to share the value created in lending systems with the people who fund the loans.

According to the whitepaper, traditional systems are troubled with outdated thinking. The system doesn't share the wealth. BankSocial's community-driven approach to borrowing aims to replace old lending practices by rewarding staked community members for financing loans.

BankSocial's funding network continually seeks to create value for the members, known as token holders, and utilizes BLOCKSCORE technology to determine borrower creditworthiness. A borrower's BLOCKSCORE is used to assess the borrower's eligibility to receive asset-backed loans for home mortgages, automobiles, small businesses, real estate, and other collateralized lending products. In addition, the token holders approve loan requests through a next-generation tokening consensus system, thus truly decentralizing the lending system.

Furthermore, the economics of the platform includes redistribution for the people. According to the whitepaper, redistribution means every time someone trades a BankSocial (BSL) token, all token holders are rewarded for staying in the traditional system with a 3% distribution of all traded tokens. By holding tokens, users keep building yield from the community.

The BankSocial (BSL) token aims to be the backbone of the BankSocial lending platform. The logic in the smart contract allocates 7% of all token sales redistributed for the network's good. For example, 3% is redistributed directly to users' wallets in more tokens. The other 4% is tucked safely away in the social lending pool for future loans and yield repayments to all token holders. The Ethereum network secures the BSL token via an open-source, verifiable ERC20 solidity contract.

The BankSocial roadmap outlines the vision for building a first-of-its-kind socialized autonomous peer-to-peer funding network to create liquidity and reward all token holders.

History of BankSocial

The platform's team includes John R. Wingate, founder and CEO, Alireza Dehghan, the COO, and Eric Wingate, the CTO. Furthermore, the team launched the BankSocial website and the Ethereum ERC20 token BSL in Q1, 2021.

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FAQ

What is the current price of BankSocial?

The price of 1 BankSocial currently costs $0.000235.

What is the market cap of BankSocial?

The current market cap of BankSocial is $0.00. A high market cap implies that the asset is highly valued by the market.

What is the all time high of BankSocial?

The all-time high of BankSocial is $0.0100. This all-time high is highest price paid for BankSocial since it was launched.

What is the 24 hour trading volume of BankSocial?

Over the last 24 hours, the trading volume of BankSocial is $6.54K.

What other assets are similar to BankSocial?

Assets that have a similar market cap to BankSocial include FANZY, iCommunity Labs, BullionFx, and many others. To see a full list, see our comparable market cap assets.

How many BankSocial are there?

The current circulating supply of BankSocial is 0.