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ETHLend — Decentralized P2P marketplace to borrow against BTC, ETH
ETHLend is the first decentralized peer to peer lending marketplace for crypto backed loans
It allows crypto holders to borrow money against the major crypto assets including ETH, BTC and DAI and several ERC-20 tokens.
The application comes with an in-app wallet, removing the need to install third parties app.
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Would want to touch upon the user requests. Building products is definitely not easy and especially understanding what your user's want and need. I think in ETHLend we are blessed to have a honest and pro-active userbase that are willing to share their opinions on the user experience. That had a big impact on the current design.
the latest release is the milestone on which the whole infrastructure will be built
Pros:The app is completely decentralized, you are in possession of your own keys. UX has been improved a lot and will improve further over time
Cons:there are many improvements on various different aspects that can be done
Hi all, Makers here, thanks for the reviews. The way we are looking into into improve our product is to add additional support for different cryptocurrencies, introduce third party liquidators, who will initiate the collateral call behalf of the lender and provide the funds to to the lender. This way the lender can focus on funding loans and third parties are taking care of liquidating the collateral in case if the borrower does not manage the collateral.
Additionally, we are looking to improve the user experience as much as possible, if you have any suggestions would be happy to hear :)
Thanks for your review Jun! Definitely UX was one of our top agendas during this release and we are happy to hear that you liked. In the past year we worked to integrate Bitcoin as a collateral, which was an interesting challenge since we had to connect Bitcoin blockchain work with Ethereum-based smart contracts with decentralized manner. Now that we have set up the basis, we are able to scale easily to new cryptocurrencies to be used as a collateral. Also we are looking to add more tokens during the Q1 :)
Hi PJ, thanks for your comments and appreciation for decentralization. Is there any recommendations how we could further improve our UX? Would love to hear your thoughts. - Stani
It's very interesting and helpful to investors by enabling investors to borrow and also expanded their crypto business. Kudos to Ethlend.
@saviour_eshiet Hi Saviour Esgiet, thank you for your support :) Our goal is to make decentralized blockchain application easier to use and expand the usage to the mainstream cryptocurrency users. Also ETHLend is something that is called "decentralized finance" movement, which aims to create finance without a centralized party.
even my mum could take a crypto backed loan using this!
Pros:the app it super easy to use! no need to dowload anything to access
Cons:add more stablecoins
DO NOT trust EthLend. You will loose on the loan
https://www.reddit.com/r/ETHLend...
I recommend this to anyone to get funded soon instead of selling your cryptos.
Pros:It's fully decentralised and user friendly. They listen to users request.
Cons:They can improve the LTV of tokens.