INLOCK Will Already Be Supported By Cryptocurrency Lending Platform
INLOCK (ILK), a blockchain-based crypto-credit platform and smart contracts that allows cryptocurrency holders to manage short-term liquidity problems by taking out a Fiat loan and using their existing cryptocurrencies as collateral, announced on Wednesday the launch of registration for the token sale from September 15th. The company was founded in 2018 by a group of experts in the field of financial technologies in Hungary.
Pursuant to the report, the INLOCK model eliminates traditional credit cost estimations insofar as borrowers provide security in the form of crypto assets. This eventually promotes and involves a broader range of lenders, as well as enabling cryptocurrency investors to access the fundamental value of their assets without liquidation.
In a statement accompanying the announcement, Csaba Csabai, CEO and co-founder of Income Locker, stresses that INLOCK can have a positive impact on both crypto investors and borrowers.
INLOCK merges the market, rapidly filling blockchain startups working in the field of lending. Just a week ago, Binance Labs, an investment division of the popular exchange Binance, showed that it made an investment in Libra Credit (LBA), a decentralized financial services platform for digital assets.
Nevertheless, INLOCK will look to reduce its market share while preparing to sell 4.4 billion tokens accessible for purchase at a rate of $1 per 100 ILK this fall.