Wanchain users can now use their WAN to get loans on Constant
The peer to peer crypto loan platform allows users to take out loans of USD or stablecoins using cryptocurrency as collateral
Constant is a P2P lending platform which allows users to set their own lending or borrowing rates and be matched with another user.
Constant P2P lending platform will now start offering USD loans using WAN as collateral.
Constant is committed to solving liquidity issues for cryptocurrency users.
“The liquidity problem has troubled traders and Defi purists for years now,” said Duy Huynh founder of Constant, “Constant was one of the first platforms to provide a value-transfer option that didn’t require cashing out on an exchange.”
When Constant P2P was created in early 2019, its goal was to provide highly secure, peer-to-peer lending through crypto-backed loans. It ended up bringing something else to the crypto world. Cross-chain value transfer that did not require divestment.
On Constant, borrowers can escrow WAN as collateral for a USD or stablecoin loan that can be transferred to a bank account or crypto-wallet.
This unlocks many new options for WAN holders.
By borrowing on the platform, users can get the liquidity to, say, buy into a new coin project they have been itching to work in without having to sell their WAN. Because their assets are simply locked into an escrow account until they pay off their loan plus interest, borrowers can retain their original tokens. They can continue to participate in staking on Wanchain after their tokens are released from the collateral account.
Borrowers can also use their funds for real-world applications. Like paying off an emergency medical bill or putting a down payment on a house or a car for example.
“The capabilities of the tool we offer our borrowers aren’t widely known yet,” said Huynh. “We hope that by increasing our partnerships with projects innovating in the same space as WAN, we can increase awareness and the utility of our platform.”
Headquartered in California, Constant is an alternative financial services platform designed to strip out the inefficiencies of the traditional banking industry and help people get more out of their money. Constant was founded by a team of scientists, economists, engineers, and designers, fully devoted to the mission of building simple, elegant financial tools for an increasingly interconnected world.
Please follow Constant on Medium for more news, views, and updates from the team. If you have any questions or feedback, please join the Telegram https://t.me/constantbanking
Wanchain is the infrastructure connecting the decentralized financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralized, permissionless, and secure approach for interoperability. Wanchain has employees globally with teams in Beijing (China), Austin (USA), Kuala Lumpur (Malaysia), and Madrid (Spain).