SALT

Overview

SALT (SALT) is a cryptocurrency token that powers the SALT lending platform, which was designed to enable cryptocurrency holders to secure fiat currency loans using their digital assets as collateral.

Purpose and Utility

The primary purpose of SALT is to facilitate crypto-backed lending services. The token is used for membership access to the platform and loan collateralization. Users can stake SALT tokens to access different membership tiers which determine loan terms and interest rates.

Business Model Assessment

The core business model revolves around lending and borrowing, with interest being a fundamental component of the platform's operations. The platform essentially acts as a traditional lending service, but using cryptocurrency as collateral. Interest-based lending is a key part of the protocol's design and operation.

Real-World Adoption

The platform has processed loans since its launch, though exact current usage statistics are difficult to verify. The project has faced various regulatory challenges and underwent significant changes in its business model over time.

Development Activity

While the platform continues to operate, development activity appears limited based on public repository activity. The project has shifted its focus several times since its inception.

Token Distribution and Governance

Token distribution information is not readily available in recent documentation. The token primarily serves as a utility token for platform access and loan facilitation.