As followers and contributors may have read in the light paper, we are constantly growing and working on the technology aspects of the Collateral Protocol. The community and our followers will respect that this takes time, however we listen and it’s by listening to the community that we have decided to introduce the Collateral Marketplace.
The Collateral Marketplace is the first in a suite of products leading up to the launch of the Collateral Pay Ecosystem. The Marketplace will have limited product lines to begin with however, merchants will be able to add products. The goal is to demonstrate the use case of Collateral in a real world scenario and create awareness of the brand.
The Collateral Marketplace will also determine the utility of the $COLL token. In order to use your crypto as collateral on the Collateral Marketplace, buyers will need to hold $COLL. Each $COLL token held, will allow $10 of spending power within the Marketplace, as an example if you wanted to purchase something for $10,000 you would need to hold 1,000 $COLL tokens in addition to the crypto used as collateral for the purchase.
Each item offered on the Collateral Marketplace will show the USD price along with the amount of $COLL tokens needed to be held to enable access to the service along with the amount of crypto needed to complete the purchase. Initially we will be taking payments in ETH and BTC only.
As an introductory offer Collateral are offering 0% interest on any purchases that are repaid within 90 days.
COLLATERAL is the next generation payment gateway built on Polkadot and accessed through an interoperable crypto wallet, granting access to spending power by using crypto as collateral at the point of sale. The platform allows users to pay instantly by using crypto as collateral, giving its global user base access to funds and the ability to pay and spend crypto instantly anytime, anyplace, anywhere.
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