What is CoinLoan?
CoinLoan is a cryptocurrency lending platform, licensed under Estonia Financial Authority. The users of CoinLoan have access to three different services: instant fiat and crypto loans, exchange services, and an interest-earning account. All of the services are available worldwide. Among its provided benefits, CoinLoan offers daily interest for those who lend their assets. Also, it doesn’t demand a fee for deposits.
Put simply, you can store, borrow, buy, sell or swap coins in a single platform. Thus, the platform aims to make the process of managing and trading crypto assets faster and more efficient.
Besides, CoinLoan is safety-focused, which means that one of its main goals is to provide safer transactions to its users. In other words, the platform has essential security layers, including secure cloud infrastructure, DDoS protection, and so on. It also uses BitGo for this purpose.
The native token of CoinLoan is CLT, an Ethereum-based ERC-20 utility token. The CoinLoan token can be bought, sold, and swapped for fiat, stablecoins, or crypto assets on the CoinLoan platform.
If you are interested in knowing the current CoinLoan price, you can check the CLT price chart featured above.
Use Cases of CLT tokens
CoinLoan gives incentives to those who use CLT for borrowing. They can get a 50% discount on their fees.
Moreover, CLT holders can stake their tokens to generate an annual interest of up to 8,2%, depending on how many CoinLoan coins they have.
Additionally, CoinLoan established the Loyalty Program in 2022, which divides users into 4 ranks. The user's share of staked CLT determines their rank tier. The benefits users receive improve with rank. The advantages include a higher cashback in CLT from the exchange service and a higher discount on loan interest when paid in CLT.
Other than that, CoinLoan tokens can serve as collateral for loans. The CoinLoan crypto can be exchanged for any other asset traded on the platform, as well.
Don’t forget you can check the live CLT price above.
Who Founded CoinLoan?
Alex Faliushin is the CEO and one of the co-founders of CoinLoan. Faliushin holds a master’s degree in Applied Mathematics and Informatics, as well as in International Economic Relations.
Max Sapelov is the other co-founder and CoinLoan’s Chief Technology Officer. He also co-founded and served as CTO for IT Security Group.
Tokenomics of CLT
CoinLoan has a max supply of 22,000,000 CLT. The fixed supply implies that the token will become more scarce as time goes on. This could be beneficial for the CoinLoan price. Though if you want to see the current CLT price, make sure to check the aforementioned chart.
