Crypto-lending platforms are already in the next phase of development. We are looking at a new revolution in the finance sector itself and not just the cryptocurrency community in the shape of these decentralized lending platforms. This much needed development will help propel cryptocurrencies into mainstream banking services and beyond to promote widespread adoption.
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When it comes to TGEs, there is a general negative trend going on except for promising services that bring something useful, innovative and futuristic on the table. The days of flashy Token Generation Events (TGE) might be behind us and more so in the case of crypto-lending systems.
We have seen several platforms fail to deliver as promised in the field but EthereCash is aiming to change all that by introducing the first practical crypto-lending solution for the masses. Its TGE is proceeding admirably and if all things go well, the token sale will successfully raise the amount ahead of schedule.
A source within EthereCash said:
“We’re going forward with bringing the future of banking to the masses and think the world should know just how proud we are”
Why is EthereCash Performing so Well?
EthereCash makes the lending/borrowing process extremely easy, decentralized and useful for us. Apart from the basic utility of the platform, there are also several useful addons that appeal to the users who want to see cryptocurrency become a part of the mainstream financial services. EthereCash makes borrowing/lending easy eliminating the role of the middle man (bank) from negotiations and terms and conditions. Now you can set your own terms and borrow money easily and pay in back on time.
EthereCash came up with a very pragmatic solution to the problem. Instead of using trust score to rate borrowers in which there is a lot of chance of default, you instead put cryptocurrency as guarantee and you can borrow up to 80% of your money in fiat and pay back the same amount later on. Spending bitcoins to make crucial payments on house mortgages, car lease, etc is what every cryptocurrency trader has experienced every now and then. We don’t want to part with our valuable coins as they can be much more in the future.
So, this solution of the EthereCash platform freezing 80% of your tokens till you pay back the money is a very realistic and workable solution to the problem. It removes the risk factor of default from crypto-lending networks and increases lender confidence. Other extremely useful features of the platform include the option of a crypto debit card, minimal fees, decentralized global community of lenders, assurity of smart contracts and multiple fiat and cryptocurrency support.
Etherecash Token Generation Event
The token sale of EthereCash tokens started from November 15 and will end shortly on December 12, 2017. The total hard cap of these tokens is 360 million tokens while the TGE hard cap is 110 million tokens. More than $30 million has been raised in the crowdfunding campaign and is likely to achieve target before the 11:59 December 12, 2017.
The TGE will be followed by a platform launch later in 2019 after extensive testing and evaluation. A major portion of the TGE funds will be used for the development and deployment of the platform.
Visit the Etherecash Official website – http://etherecash.io