The CoinGecko community has been going crazy about a new cryptocurrency project called Collateral Network (COLT) lately. Even though Collateral Network (COLT) is still in its pre-sale, analysts now go as far as predicting that the token’s price will surge by 35x within the next six months.
Collateral Network (COLT) Likely to Disrupt Global Crowdlending Markets
Collateral Network (COLT) is a revolutionary cryptocurrency project with a solid use case as it aims to become the world’s first crowdlending platform that uses fractionalized NFTs to enable borrowers to unlock cash from their physical assets by putting them up as collateral on the blockchain. On the other hand, lenders will be able to become their own banks and provide fractional loans to borrowers at an agreed fixed interest rate.
How Does Collateral Network (COLT) Work?
Collateral Network (COLT) will allow borrowers to borrow cryptocurrencies against their physical assets as collateral by using both blockchain and NFT technology.
Let’s say you own a property valued at $100k, and you want a short-term loan. Collateral Network (COLT) would then mint a tangible NFT that is physically backed by your property and then fractionalize the NFT into smaller fractions so that investors can quickly become fractional lenders at an agreed fixed interest rate.
Not only will Collateral Network (COLT) be faster for borrowers as they will receive cash for their assets within 24 hours, it will also be more secure and privacy-focused as borrowing via the Collateral Network (COLT) network won’t leave any footprint on their credit profile.
On top of this, the Collateral Network (COLT) system is much more transparent compared to conventional crowdlending platforms. All contractual information is stored in the metadata of the NFT and on the public blockchain, which cannot be altered or changed.
The terms used on Collateral Network (COLT) are way more flexible as well as the ecosystem and market decide on the rates and flexibility of the terms. For lenders, this is a great way to receive a fixed income weekly.
The Collateral Network (COLT) Ecosystem
The Collateral Network (COLT) ecosystem consists of a marketplace that connects borrowers and investors. Via auctions, token holders gain access to collateral private auctions of distressed assets, which will be held both physician and digital in the metaverse and will provide the investors with the opportunities to purchase real-world assets below market value.
Investors can also directly participate in crowdlending and provide fractional loans to borrowers for an agreed fixed interest rate against the NFTs that are backed by real, physical assets.
Token holders that are borrowers can use the COLT tokens to enjoy discounts on borrowing fees, and interest whilst token holders that are crowd lenders can use the token to get discounts on trading fees on the Marketplace.
Alternatively, the COLT tokens can be staked by both types of users to earn a passive income with crypto or held as governance tokens to gain voting rights on key project developments.
Collateral Network (COLT) Tokenomics
The total supply of COLT tokens is set at 1,400,000,000 (1,4 billion), and only 50% of the total supply will be available for the general public via the pre-sale of the project. The team’s tokens are locked for three years whilst the liquidity pool of the project is locked for 33 years, and both smart contracts used to lock funds away have been successfully audited.
The initial starting price of COLT tokens will be $0,01 each and VIP pre-sale buyers will have access to a VIP members club, which grants them access to private auctions for distressed assets. COLT tokens are predicted to rise by up to 35x during presale due to the massive demand of the project, according to market analysts.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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Source: https://www.thecoinrepublic.com/2023/03/02/coingecko-community-buys-up-collateral-network-ico-tokens/