Every day dozens of new tokens are announced at the bitcointalk forums. We go through them all to find the cream of the crop – giving you the scoop on top ICOs before anyone else.
After looking through 23 token sale announcements, we’re picking LendingBlock as the ICO of the day. This is a P2P lending platform focusing on crypto-to-crypto lending.
Premise
LendingBlock is a lending platform where borrowers and lenders can meet for crypto-to-crypto lending. Loans are collateralized with cryptocurrency.
Borrowers specify the amount and type of crypto they want to borrow, then they set aside crypto assets for collatoral, and specify an interest rate they are willing to pay. Lenders specify the cryptocurrencies they will take as collatoral, and choose the loan offers they will accept. At the end of the loan, when the repayments are finished, the smart contract automatically distributes the last interest payment to the lender and the collatoral to the borrower.
LendingBlocks basic premise is simple to understand yet quite powerful. They are working with wallet providers to integrate lending functionality, and will also offer API access to the platform.
Team
LendingBlock has a solid team with relevant experience in finance, lending, and blockchain development. Their cofounder’s previous work in particular involved an AI-powered mortgage lending platform.
We have no doubt that the team can pull of the project on a technical or business level, however the team does seem to be light on the marketing and PR side.
Token economics
LendingBlock’s LND token is used to pay fees and interest on the platform.
Token distribution is interestingly skewed towards the pre-sale, with 45% of the tokens going to the pre sale and 10% for the main sale. 30% of the tokens go to the team and advisers while 15 is set aside for the “Growth fund”. The tokens allocated to the team themselves are vested over two years. While the token distribution is detailed, there are no details about fund allocation.
Summary
LendingBlock is the kind of ICO we like to highlight. They have a great premise with an immediate business use case, a technical scope which is big enough to be hard to imitate, yet not overambitious. Best of all they have a rock solid team that looks ready to deliver the project. While we wish they had a stronger marketing team, we do think this is a solid ICO that should do well.
LendingBlock’s presale starts March 9th and you can register for it on their token sale page.
Bitcointalk | Whitepaper | Website | Telegram | Twitter | Linkedin
Honorable Mention
Holo – Distributed Cloud Platform
Bitcointalk | Whitepaper | Website | Twitter
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