SALT Lending allows members to leverage their cryptocurrency as collateral for loans.
Annual lending limits are restricted by membership tiers which can only be increased by purchasing SALT.
You need to buy SALT to borrow from SALT, and if you want to borrow more than your annual limit, you need to buy more SALT.
I expect aggressive Wall Street traders may look to leverage their crypto-investments given their recent bonuses; this is especially true for those who are bullish on Bitcoin.
Currently SALT Lending only accepts major Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin, however SALT Lending’s Roadmap includes the ability to use other Cryptocurrencies as collateral – yet again, opening the market up to more use.
As at Mid-January, SALT Lending has paid out over $7,000,000 USD in loans, has over 50,000 members, has more than 7,000 pending memberships, and has approximately $28 Million in pending loans.