About the platform
Cryptoloans is a platform that specializes in margin lending for trading directly on the platform. The profitability expectations of the platform are based on the projections of future growth of cryptocurrency markets. The growing interest in cryptocurrencies should result in growth of interest in all aspects of trading - speculation, arbitrage or hedging. Given the current popularity of leveraged trading, Cryptoloans are developing a platform where both lenders and margin traders would be able to enter the market regardless of their social class or status.
Main focus of the CryptoLoans Platform can be split into three parts:
- P2P Lending as a way of earning interest on cryptocurrency assets. Being built on the Ethereum blockchain, the borrowed money is locked up in a contract and never leaves the platform until the loan is repaid or defaults. The borrower can use the borrowed assets for trading or lending before the loan is repaid, only withdrawal out of the platform is blocked.
- Margin trading on an ERC20 platform implemented as buying on credit. The trading system is similar to OTC trading, the leveraged position is not liquidated during volatility as with a credit contract on CryptoLoans there is no maintenance margin requirement. The only condition is the borrower must repay his or her loan before the lending contract expires. Failure to repay the loan means the creditor receives the initial asset back and also keeps all borrower’s payments that were received.
- Cryptocurrency markets with more cryptocurrencies as the base. Exchanges and trading platforms typically do not provide pairs of less popular cryptocurrencies, such as for instance ZEC/ZEN. The trading platform will feature advanced tools such as automated trading.
The goal of CryptoLoans is to democratize the cryptocurrency market, working against its further monopolization.
The Platform Homepage
The core team consists of CEO Dmitry Zhurba, engineer of algorithmic trading systems, CTO Oleg Zlotnyk, developer with experience in projects for the National Bank of Ukraine and Dmitriy Plekhanov, systems engineer.
The official digital token of the CryptoLoans platform is LoanCoin (LCN), token used for fee payments and operations on the platform. Exchange rate is 1 ETH = 300 LCN. LoanCoins cannot be sold to residents of United States, China, Singapore, South Korea and other countries where the sale of the token may require registration as a security.
Airdrop and Bounty Programs
Starting March 12 2018 CryptoLoans launched a social media airdrop and bounty program to build awareness of their upcoming ICO. The awareness campaign ends on the day of completion of the first round of the sale of the tokens, but not later than June 27, 2018.
The airdrop rewards users for social media engagement, the payout being tiered by the user’s number of followers. The bounty consists of translations into foreign languages which must be reserved via Bitcointalk.
The budget for the campaign is 800,000 LCN:
Twitter – 100,000 LCN
Telegram – 100,000 LCN
BitcoinTalk – 25,000 LCN
Signature – 200,000 LCN
Translations – 10,000 LCN
Facebook – 100,000 LCN
Youtube – 100,000 LCN
Blog/Articles – 100,000 LCN
Cryptoloans Forum – 65,000 LCN
General rules for CryptoLoans airdrop and bounty campaigns:
- Every participant of the Bounty program should understand the essence of the project, its advantages and functionality. In case of questions that you do not know the answer to, please, ask the questions to one of the team members. This can always be done in official ANN Topics on the BitcoinTalk forum and in Telegram chat.
- Dissemination of information that is untrue or discrediting the Cryptoloans project and its authors results in the immediate expulsion of the participant from the program.
- The minimum remuneration for each Airdrop / Bounty member is 100 LCN. This means that each participant must complete the tasks (activities) to such an extent that it will allow him to receive 100 LCN. The level of reward for each of the activities will be indicated below.
- Depositing of tokens following the results of the campaign will be made within a week from the successful completion of the first round of selling the tokens.
- Every participant of the Bounty-campaign should publish a report on his work in this forum branch once a week, indicating Ethereum-wallet for depositing tokens (published 1 time, you can write it in a personal message to the author of this topic). Ethereum-wallet should not be changed during the whole campaign time.
- You can check the status of your activity in the Airdrop / Bounty campaign by clicking on the link https://docs.google.com/spreadsheets/d/1Bk19xnkBOPzfNac-i7DIpTyKONChxNzKSE3-3pC6ZVU/edit?usp=sharing
Example of a bounty collection:
- Join CryptoLoans Telegram chat (1 LCN), invite 10 friends (5 LCN)
- Be a Sr. Member on bitcointalk and support them with your signature for 2 weeks (60 LCN)
- Have more than 5000 Twitter followers and post 10 tweets about CryptoLoans (50 LCN)
- Report your work along with your Ethereum address, earn 116 LCN
Full write-up of social media requirements and payouts in the official Announcement Thread
Overview of the CryptoLoans ICO
The first round of the LCN token sale starts on 27 March 2018. The sale will be soft-capped at 850 ETH and hard-capped at 1000 ETH. Second round of the sale is planned for November 2018. The smart contract and platform development will begin in April 2018.
During the first round of the LCN token sale the buyers will receive 100% token bonus, during the second round of sale in November 2018 buyers will receive 50% bonus respectively of the number of tokens purchased. Including the bonus, during the first round of token sale, for 1 ETH, a buyer will receive 600 LCN.
A total of 10,000,000 LCN token will be distributed as below.
- 510 000 to 600 000 LCN will be distributed during the first round of token sales.
- 3 600 000 to 5 850 000 will be distributed during the main sale.
- 1 539 000 tokens will be distributed during final round.
- 1 011 000 tokens will be reserved for the developers and bonus fund.
- 1 000 000 tokens will be distributed in bounty.
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