UBITLend: Empowering your financial future through crypto-backed P2P lending on the UBIT blockchain.
Visit the platform Our platform aims to:
Empower borrowers: By providing access to instant liquidity through crypto-backed loans and a competitive P2P marketplace, we aim to empower individuals and businesses to take control of their financial future. We believe that everyone should have the opportunity to access credit, regardless of their background or location.
Enable lenders: By offering a transparent and secure platform for P2P lending, we aim to enable investors to earn attractive returns while supporting the growth of the crypto economy. We believe that decentralized lending can create a more equitable and inclusive financial system.
Foster innovation: By leveraging the power of blockchain technology and smart contracts, we aim to foster innovation in the lending and borrowing space. We believe that DeFi has the potential to revolutionize the financial industry, and we are committed to driving this change.
Build trust: By prioritizing security, transparency, and fairness, we aim to build trust within our community of borrowers, lenders, and partners. We believe that trust is essential for the long-term success of our platform and the DeFi ecosystem as a whole.
Features:
- User can make a loan request with the amount and duration.
- The Lender can pick up a loan request and propose an interest rate, and minimum collateral to be staked which should not be less than 70% of the requested loan.
- Users can accept proposals from lenders and then fund with agreed collateral.
- Lender deposits amount to be loaned to the borrower
- Collateral is then locked
- Borrowers can repay before or on the date of the loan due date
- On default, locked collateral is liquidated and then funded to the lender
- Users that default get a decrement in their credit score by 40 points per default.
- Users can see transaction and loan history
Ultimately, UBITLend envisions a future where financial services are accessible, affordable, and efficient for everyone, regardless of their socioeconomic status or geographic location. We believe that our hybrid model of crypto-backed and P2P lending can play a significant role in achieving this vision.