Collateral Network (COLT) is a new cryptocurrency project, still in its presale, that has attracted the attention of many Ethereum whales, according to on-chain analytics. Collateral Network (COLT) is officially the world’s first crowdlending platform for NFTs that makes it easy for borrowers around the world to unlock cash from their physical assets on the blockchain.
This means Collateral Network (COLT) users can truly become their own banks and offer fractional loans to borrowers for an agreed fixed interest rate. On the other hand, borrowers can release cash without selling their assets or applying for a loan and just using their physical assets as collateral.
With this strong use case and given the size of the crowdlending markets, analysts predict the token to surge 35x in price within the next six months.
How Will Collateral Network (COLT) Work?
There will be borrowers and lenders within Collateral Network (COLT). Borrowers can borrow cryptocurrencies against their physical assets using blockchain and NFT technology.
Imagine someone has a $100k property and wants a short-term loan. Collateral Network (COLT) will then mint a tangible NFT that is physically backed by this person’s property. Collateral Network (COLT) then fractionalizes the NFT into smaller fractions, allowing investors to easily invest in the property with relatively small amounts of capital. The lenders will earn an agreed fixed interest rate for providing the loan.
Collateral Network (COLT) is revolutionary in the sense that cash can be released from assets way faster than via traditional crowdlending platforms, and everything is completely transparent – all contractual information is stored in the metadata of the NFT and the publicly available blockchain.
Collateral Network (COLT) also greatly reduces costs for both parties involved and thereby provides lenders with a decent fixed income which is paid out weekly.
The Collateral Network (COLT) Ecosystem
The Collateral Network (COLT) Marketplace will connect borrowers and investors. Token holders gain access to Collateral Network (COLT) private auctions of assets, which will take place both physically and digitally in the metaverse.
Via these auctions, investors can provide fractional loans to borrowers for an agreed fixed interest rate. The loans are taken out against NFTs, which are backed by the actual physician assets.
The more Collateral Network (COLT) tokens one has, the more discounts one gets on borrowing fees and interest rates. On the other hand, crowd lenders can use Collateral Network (COLT) tokens to get trading fee discounts in the Marketplace or stake them to earn a passive income with cryptocurrency. Apart from that, the tokens act as governance tokens, giving holders voting rights on crucial project developments.
Collateral Network (COLT) Tokenomics
The developer’s tokens are locked for three years whilst the liquidity pool of the project is locked for 33 years with a smart contract audited by Solid Proof. This ensures early investors that no rug pull will take place whatsoever.
The total supply of Collateral Network (COLT) tokens is set at 1,400,000,000 (1 billion), and the project is built on Ethereum (ETH). At a later stage, multi-chain capabilities will be added. Only 50% of the total supply will be available to the general public via the pre-sale of the project at an initial starting price of $0.01 each.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
