ETHLend, one of the first fully functioning decentralized lending platforms, has successfully raised $10 million USD in the first half an hour of its public token sale. The token sale enticed a wide range of investers and early adopters of the decentralized lending application build on top of Ethereum network.
ETHLend represents a decentralized lending platform with an extensive roadmap that is going to see the ETHLend team to implement various crypto financial products such as token lending, crowdlending, collateral management and a protocol for AI lending bots. More information on ETHLend’s road map can be found by accessing the following link.
What is ETHLend?
ETHLend already offers secured loans on the Ethereum blockchain where users can borrow Ethereum using any ERC-20 digital tokens as collateral. The digital tokens ensure repayment of the loan, and lenders can lend Ether without the loss of capital.
— ETHLend (@ethlend1) November 27, 2017
ETHLend’s pre-sale closed out back in September following an impressive zero marketing budget to a 2000 ETH cap being met within just 77 hours. The token sale started last week on November 25 at 12PM GMT and skyrocketed to an impressive $10 million after less than an hour. Just days later, there is now less than 20 percent of LEND token available before the cap is reached and its closing out at a steady pace with the minimum purchase of 0.01 ETH.
Leading the way in decentralized lending, Stani Kulechov the founder of ETHLend has now gathered a community of over 6,700 members. The industry veteran has personally involved in the group, making himself available to personally answer investor queries, which has given a feeling of security amongst the ETHLend community.
This is all backed up by an impressive advisory board with names including, but not limited to, Jon Matonis the founding Director of The Bitcoin Foundation and Robert Viglione co-founder of Zencash or Tomoaki Sato, founder of Starbase