What Is SALT (SALT)?
Secured Automated Lending Technology or SALT is a lending and borrowing network. The platform is membership based and seeks to allow users to leverage blockchain assets to secure currency loans. The platform aims to be cryptographically secure and automated and is designed to adapt to the continuously developing class of blockchain assets. Specifically designed for blockchain assets, SALT operates as a second layer protocol sitting atop any permissioned or public blockchain. Thus, the platform aims to allow the underlying asset to be used as collateral (security) for access to credit.
In general, many consumers face difficulties when they need currency to purchase but don’t wish to liquidate the assets. The SALT platform seeks to offer a compelling solution to the problem. Instead of trading, SALT seeks to allow the members to leverage the value of certain digital assets. Thereby, users get access to currency, offset tax incidents, avoid exchange fees, and maintain the long position in the asset owned. SALT aims to offer a robust and globally available solution to lenders. The platform also aims to provide a solution for removing many of the barriers which have restricted traditional financial institutions from serving the growing base of individuals and businesses.
The SALT lending platform seeks to offer tools to enable traders to lend against blockchain assets safely. SALT’s proprietary volatility risk mitigating technology aims to help to realize the potential advantages of the asset. SALT also intends to facilitate the creation of lending agreements, monitor and secure the value of the blockchain assets serving as collateral, and automatically enforce the terms of each smart contract credit agreement. In simple terms, SALT’s technology aims to address the shortcomings while emphasizing the aspects of blockchain assets.
The SALT (SALT) token was created as a part of the platform’s vision. SALT is an Ethereum-based ERC-20 digital asset token. The members (token holders) can use the tokens as a platform currency and get discounts on loan products. The platform also accepts SALT tokens for paying yield on the loan. SALT token holders can use the tokens to seek to interact with the platform and reduce current products and services costs.
History of SALT (SALT)
The idea of SALT was conceived in 2016, and the SALT (SALT) token was issued in 2017. The whitepaper of the token was released on September 8, 2017.
