A CoinLoan Token (CLT) is an ERC-20 compatible token based on the Ethereum smart-contract. The main function of CLT is to pay the platform fees. This covers fees for borrowing and providing the loan. Also, there is the option to use CLT as the collateral when taking out a loan. If the borrower uses CLT as collateral there will be no platform fee, the borrower will only be charged the interest on the loan. To calculate the the maximum loan amount given a CLT collateral, CoinLoan will use the market value of the token combined with a LTV (Loan-to-value ratio) of 80%. However, when borrowers use other crypto-assets as collateral, the LTV is 70%.
Distribution of Tokens will take place after the ICO end. You will be able to withdraw the purchased CoinLoan Tokens on an ERC-20 compatible Ethereum wallet set in the account settings.
The platform will not provide a pre-set interest rate. It will be fully market-dependent. The lender will set the interest rate in his/her loan application, and the borrower will state the desired interest rate for getting a loan. The system will automatically bring the matching applications together.
Currently, we are performing the pre-sale and can't name the precise date and exchange names. This information will be available after ICO. We will try to list our token on several largest crypto-exchanges as soon as possible.