ETHLend launches token sale on November 25th and opens Whitelist

ETHLend is an Ethereum-based, decentralized P2P lending application. The project already has a working product and an international team committed to making finance fairer and more accessible to everyone around the world.

The aim of ETHLend is to make lending more democratic by eliminating interest rate differentials between countries and creating a trusted credit network without the need for banks and governments. As a result, someone from Tokyo can spontaneously lend money to someone from Delhi, so lending becomes "limitless".

The ETHLend DAPP offers a fully decentralized P2P lending smart contract on the Ethereum Blockchain for granting digital token (ERC-20) or Ethereum Name Service Domain (ENS) ethers as security. Reputation-based lending allows unsecured loans and thus a financial benefit. The technical roadmap envisages an interesting integration for the coming year and includes fiat lending, crowd lending, token borrowing for short selling and many other improvements.

As ETHLend further developed the decentralized application, the team also announced details of the upcoming token sale. ETHLend introduced LEND tokens for participants participating in the token sale. The main feature of LEND is the ability to use the token to pay for deployment fees at ETHLend at a 25% discount compared to using ETH. Additionally, based on the community proposals, ETHL will provide additional privileges for LEND token holders once the DAPP has evolved into a larger and more comprehensive credit market.

ETHLend also introduces the ongoing AirDrops for loyal LEND holders. They receive LEND tokens based on their frequency of use, which can only be used as collateral, if they regularly use the DAPP. On the one hand, they strengthen the platform while, on the other, motivating users to use decentralized lending. LEND is designed to increase user adoption and add value to the product. As more users use the application, there are more lenders and borrowers who are buying up the LEND token from the token market, thus adding value.

ETHLend opens the limited whitelist for 5,000 token sellers on November 15, 2017 at 12:00 GMT. The whitelist link will be available immediately at https://ethlend.io. For the whitelist, participants must enter their details and the amount, confirm their identity and email address. Within 48 hours, the applicant will receive an e-mail informing him of his acceptance or rejection. The participation of US citizens is not allowed.

Participants receive a 10% bonus on token sales for the first batch sold and 5% for the second batch. The goal of the token sale is 37,600 ETH, which is needed to finance the further research and development of decentralized lending as well as marketing and operating costs in order to be able to work long-term and sustainably.