LendingBlock ICO Review

lendingblock ico review

This ICO is an exchange for lending and borrowing digital assets and cryptocurrencies. It lets lenders and borrowers enter into crypto lending vs. cross-chain fully collateralized crypto agreements.

LendinGBlock will support bitcoin, bitcoin cash, ether, ripple, and Litecoin. The users can borrow any of the currencies mentioned above and use the remaining 4 currencies as collateral.

The platform will monitor the collateral value, and there will be margin call when the value drops near the loan value to make sure that the level of collateralization is appropriate.

The Initial Coin Offerings(ICO) will have two end users:

Lenders: this group includes asset managers, family offices, hedge funds, individual participants among other institutional lenders.

Borrowers: this group includes market makers and institutional investors that engage in hedging, short-selling, fails-driven borrowing, and arbitrage.

Tokens

The LendingBlock platform uses LND tokens as currency. The interests on loans are paid in LND tokens.

The borrowers can pre-purchase LND tokens when the loan agreement is started to meet interest payment. This way, they can lock in interest payment cost.

LendinGBlock Team

LendingBlock has seven core members including:

Steve Swain, CEO, and Co-Founder.

Linda Wang, COO, and Co-Founder

Luca Sbardella, CTO

The advisors include Charlie Beach, Andrew Mullinger, and a host of others.

Concerns and Challenges

The ICO is a centralized application and doesn’t take advantage of the Blockchain which is decentralized. However, lenders and borrowers may prefer the centralized application to the decentralized one.

Also, margin call monitoring may be somewhat difficult to apply for such assets since there are many exchanges trading one asset.

Conclusion

With a solid team on this ICO, they may be able to execute their vision and generate some traction from the borrowing and lending side. The team plans to work with different cryptocurrency wallets to do this rather than create its own, and this is commendable.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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