SALT is a credit system that can use blockchain assets as collateral to obtain cash loans. On the SALT platform, users can use their digital currency as collateral to obtain loans. Simplifying the application process by focusing on the value of the borrower’s blockchain assets rather than their credit score, borrowers are automatically matched with a vast network of lenders. Users do not need to sell digital currency assets to complete loans.

SALT's positioning from beginning to end is: to provide a blockchain asset mortgage lending platform based on blockchain technology, users mortgage their own blockchain assets such as Bitcoin, Ethereum, etc., to obtain legal currency loans.

On the SALT system, users need to obtain SALT tokens to participate in the platform and obtain loans. The more SOM tokens users spend each year, the more they can borrow. Using the SALT platform, users can obtain liquidity from their cryptocurrency holdings without selling them like other traditional asset classes such as stocks, bonds, real estate, and commodities. SALT loans are entirely collateralized, meaning the borrower's credit history is irrelevant. Any user's collateral has the same value as anyone else on the platform, regardless of each user's credit score.

Project Highlights

SALT focuses on solving the liquidity problem of users who want to hold coins for a long time. At present, this aspect is just what many users need.
In addition, SALT also supports other needs:

(1) Hold a large amount of cryptocurrency reserves;
(2) Cooperate with companies that need liquidity in legal currency, such as exchanges, game platforms, ICO projects, miners, etc.
Users need to purchase Salt tokens first to become members when using SALT platform services. There are three levels of membership:
(1) Ordinary members, with a maximum loan amount of US$10,000 each time;
(2) Premier members, with a maximum loan amount of US$100,000;
(3) Enterprise-level members, with a maximum loan amount of US$1 million U.S. dollars, with customizable lending terms.

Application Scenario

SALT is the first blockchain-based lending ecosystem project. SALT's focus is on its secure automated lending technology, providing a new market for cost-effective and fair loans, and protecting the investment of lenders and borrowers .
The specific process of making a loan on SALT mainly includes the following steps:

1) Loan Creation: Borrowers set up membership accounts, then forward their collateral to the SALT Oracle Wallet. This is a multi-signature block wallet that acts as a collateral repository while automatically managing loan terms.
2) Once the loan funds are approved, they will be transferred to the borrower's bank account.
3) Loan repayment: The borrower pays the lender in a timely manner.
4) Loan Completion: After the loan is repaid, the borrower will return the collateral.
SALT does not conduct credit checks on borrowers, but performs comprehensive Anti-Money Laundering (AML) and Authenticated Customer (KYC) verification checks. Loans earned through the platform are denominated and repaid in traditional currencies.