Lendingblock is an open exchange for cryptocurrencies, where borrowers and lenders are matched in a simple, safe and transparent way.
Lending block is creating the infrastructure to secure the future of the cryptoeconomy.
Lendingblock is a convention and stage intended to empower and support obtaining and loaning inside the crypto budgetary framework, bringing the monetary advantages of loaning (expanded spending and development, interfacing capital free market activity) to the dispersed blockchain economy, however limiting the requirement for wasteful go-betweens that are pointless in the cryptographic resource environment.
The Borrower process has five stages :
Registration, in which prospective borrowers create an account and complete identity verification and screening;
Specification, in which borrowers complete profiles specifying details of the loan they are seeking, e.g. loan principal asset and amount, duration, maximum interest payable, and collateral to be pledged. After verifying that the collateral is available to prevent spurious offers, this borrowing request is then automatically matched to lending offers;
Initiation, in which the borrower places collateral into the LND smart contract and waits for lenders to place principal into the smart contract until the loan total is reached;
Servicing, in which the borrower makes scheduled payments that are distributed to the lenders by the LND smart contract, and as required adjusts the amount of collateral to reflect any change in value; and
Finalisation, in which the borrower completes repayment of the loan principal which is returned to the lenders, and the collateral is returned to the borrower by the LND smart contract, or in the case of default by the borrower the collateral is distributed to the lenders to cover their investment.
The Lender process has five stages:
1.Registration, in which prospective lenders create an account and complete identity verification;
- Specification, in which lenders first complete profiles specifying what they are looking for, e.g. how much they wish to lend, for what duration, desired minimum interest rate, and acceptable collateral. After verifying that the principal is available to prevent spurious offers, this lending offer is then automatically matched to loan profiles that meet their requirements;
- Initiation, in which once borrowers have submitted collateral, lenders place loan principal into the Lendingblock smart contract, at which point the principal is sent to the borrower;
- Operation, in which the lender receives scheduled interest payments from the LND smart contract; and
- Finalisation, in which the lender receives repayment of their principal, or in the case of default by the borrower receives the collateral to cover their investment.
Features of Lending Block
Cross chain interoperability
Lendingblock enables cross blockchain value transfer for the crypto lending market. We will be launching with Bitcoin, Ethereum and ripple as our first lending currencies.
Funds are held in a cryptographic escrow between different blockchains, released through ethereum smart contracts which holds the information of the loan agreement.
Transparent Oracles using SGX
To enable transparent cross-chain lending from day one, we use oracles to provide strong guarantees for lending contract initiation, collateral management and repayments. Implementing oracles as code running inside the Intel SGX enclave, we can provide a cryptographic proof to the blockchain that it executed a specific piece of code with given inputs.
Lending Block’s mission are highlighted below:
Lendingblock is making the market and money related foundation for securities loaning in the crypto-economy. The estimation of securities on credit in the securities loaning commercial center has come to $2trn in 20171, this makes up 12% of all stocks and bonds available for use. It is normal that the market of cryptographic forms of money and computerized resources will take after a comparable advancement in the acknowledge markets for respects to financing yet with a quicker rate of appropriation given the straightforwardness and smoothness of the market.
Lendingblock will be the primary trade for crypto resource sponsored advances that addresses the issues of institutional and individual borrowers and loan specialists in the crypto-economy.
Lendingblock is making an open trade for obtaining and loaning crypto-resources. Holders of advanced resources will have the capacity to produce steady and secure returns without giving up the advantages of possession, and borrowers who hold computerized resources will have the capacity to utilize these computerized resources as guarantee to get at advertise rates to help subsidizing, supporting or contributing strategies.
API Access for institutional traders
For institutional and professional traders, we will also make our API tools available. Our API will offer public data on loan order books, rate tables across different currencies, user account information and the ability to place lending/borrowing requests. Users will also have access to payment terminals for interest and principle repayments.
Lending block’s Benefits
Cross-Blockchain Value Transfer.
Users can collateralize assets across different blockchains and accept any digital assets on existing protocols.
Borrow And Lend Cryptocurrencies.
Lend your cryptocurrencies to receive interest on your holdings. Or, use them as collateral to secure a loan.
Track Payments And Portfolio.
Lendingblock has simple and intuitive tools to track your portfolio of loans and monitor your payments via the app, wallet integration, or API.
The entire lending process is secured by personalized smart contracts. Those smart contracts make sure the terms of your loan are fully protected.
Lendingblock will be issuing 1,000,000,000 LND over the course of their token sale period, with a hard cap of $10 million USD. Each LND will carry an effective value of $0.016667 USD. In a move becoming more prevalent with high-level ICOs, Lendingblock has also set a floor of $5 million USD that, if not achieved, will result in the return of all investor capital. 60% of the total LND supply will be available for purchase during the token sale, split over a private sale, pre-sale, and public sale.
Lendingblock is the open decentralised exchange for borrowing and lending digital assets. We directly connect borrowers who want short term access to an asset with lenders who hold the asset and who want to generate interest income from it.
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