Blockchain-powered lending platform. TokenLend ICO rating – 58
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PRE ICO Dates : 01/03/18 – 12/03/18
Roadmap: 5/10 Legal: 1/5 ICO terms: 3/5
Team: 13/20 Token applying: 3/5 Promotion: 11/20
About TokenLend ICO (token sale)
Our mission is to make the loan market available to everyone. That’s why we’re planning the creation of a blockchain-powered loan platform. We strive to help users across the globe make profits by lending funds with fewer risks and hassles. We believe that by using blockchain technology, we can make the lending process easier and cheaper to use without the bureaucracy of traditional banking services.
The idea for TokenLend resulted from a culmination of our investment experience as well as our vast experience in software development.
Our goal is to build a robust and reliable ecosystem that provides a complete fund lending service for all parties involved.
TokenLend will give anyone across the globe the ability to invest in real estate secured loans using various crypto and fiat currencies. Our platform will remove the uncertainties which small investors normally face by helping them build a secured loan based investment portfolio that delivers a competitive, predictable and consistent return.
The platform will contain a list of carefully selected and pre-checked secured loans available for investment. TokenLend will only accept loans from trusted EU loan originators. The presence of a legal entity as a counterparty will allow us to take necessary measures in advance to receive timely payments by the lender and mitigate the risk of default.
TokenLend personnel will re-validate information received by the loan originator, including the borrower’s personal details, pledge information, appraisal and LTV ratio. Loans will only be listed on the platform if they meet TokenLend’s stringent loan selection criteria.
During the Initial Coin Offering (ICO) campaign, TokenLend will offer Lend Coin (TLN) tokens for sale. TLN tokens are a digital representation of the right to an exclusive membership on the TokenLend platform. TLN holders have a ability to invest the desired amount of funds from their account into any of the available loans listed on the TokenLend P2P platform. The account balance on the platform represents the number of TLN tokens stored in the Ethereum wallet of the member’s TokenLend account at any given time.
TLN tokens will be tradeable outside of the TokenLend platform. Since they are ERC-20 tokens, they will have an inherent value on exchanges.
Tokens purchased during the ICO campaign will provide two types of income for holders. Token holders can use TLN to invest in any loan listed on the platform and receive income like any other platform user. However, only ICO participants will receive a regular share of the income from the platform’s operation. Holders of TLN token are guaranteed to receive a share of the company’s profits. The distribution size will be determined by the proportion of tokens associated to each member’s account on the date of the payment.
The TokenLend Platform
The platform will provide a set of tools for potential investors and loan originators via a user friendly web interface.
The core features of TokenLend will be as follows:
- A loan marketplace where loan originators will offer opportunities for users to invest and receive income.
- A Loan Participation Note (LPN) market (i.e. “Secondary Market”) where users can trade ongoing investments for immediate liquidity.
- A payments gateway which will enable users and loan originators to make deposits and withdraw funds from their accounts.
Each Loan Participation Note (LPN) represents the smallest indivisible share of a loan. Users can invest into a particular loan by purchasing any number of available LPNs with funds from their account balance. Funds spent on such purchases will be taken from the user’s account and locked into the loan’s smart contract. Once the loan term is complete or repaid in full, the corresponding funds will be deposited into the accounts of users who own the corresponding Loan Participation Notes. LPNs will be tradeable within the TokenLend platform so owners are able to transfer and sell their investments for quick liquidity.
Every month, the loan smart contract will issue loan repayments according to the repayment schedule and distribute the payment amounts between the loan’s LPN holders. These funds will be deposited to the users’ Ethereum wallets according to the number of LPNs owned by each specific wallet address at the time.
Users will be able to withdraw their earnings from the platform to their cryptocurrency wallets or bank accounts. Cryptocurrency withdrawals will be performed at the market exchange rate at the given date and time.