Today, we are back with an earth-shattering update that everybody’s going to love. We have significantly expanded CoinLoan Crypto Exchange capacity, added a new loan currency, and new liquid collateral to the Lending Platform. What more could a CoinLoaner ask for?
Moreover, we added a new opportunity for CoinLoaners. Now, you have the option to buy CoinLoan tokens (CLT) on the platform!
Since top-tier exchanges are charging pricey listing fees, and our current harbors don’t look reliable enough, the CLT-buying update seemed to be a great decision. Now, you have an easy, convenient way to save 50% on platform fees when you use CLT.
Keep In Mind
- Now, you can buy CLT on the CoinLoan Crypto Exchange for EUR, crypto, and stablecoins;
- You can also buy crypto for stablecoins and vice versa on the Crypto Exchange;
- New Paxos stablecoin OEP-4 standard was added to the lending platform entitled PAXO;
- Ontology token (ONT) is now available on the platform and can be used as collateral.
Next, let’s breakdown our updates step-by-step.
Our Crypto Exchange Leveled Up
Previously, you could only buy cryptocurrencies for euros or backward. Today, the number of trading pairs on the CoinLoan Crypto Exchange has risen dramatically.
Here’s CoinLoan’s list of new trading pairs:
More importantly, the exchange update allows you to buy CoinLoan tokens without leaving the platform for crypto (BTC, ETH, LTC, and XMR), stablecoins (TUSD, GUSD, USDC, and PAX), and EUR.
In addition to using CLT as collateral, paying platform fees in CLT gives you a 50% discount. Considering this offer, it may be useful for all CoinLoan platform users to acquire some CLT. Plus, buying CLT on the platform is fast and convenient.
Please be aware that CLT are only available to buy, and they can NOT be sold on the platform. However, when CoinLoan token raises sufficient market liquidity, we’ll enable users to sell CLT.
How Will the Upgraded Exchange Work?
Let’s discuss how you can take advantage of the new opportunities that emerge from the update. We are rightfully proud of our easy-to-use exchange, and with new trade pairs, things are not going to change.
All you need to do is to deposit funds in My Wallet, go to Crypto Exchange, and choose your desired currency and amount. The transaction will be completed immediately so that your CoinLoan account will be replenished with the purchased amount and charged with the paid amount simultaneously.
The CoinLoan & Ontology Partnership Came Into Force
Previously, you’ve heard the buzz about our partnership with Ontology, and now, it’s time to find out more! A few weeks ago, in a recent update, we added PAX on Ethereum to our stablecoin list. Today, we’re listing the native Ontology token and PAXO stablecoin.
Currently, on the platform, the two PAX standards are presented as two different tokens: PAX (ERC-20) and PAXO (OEP-4).
How Is PAXO Going to Work?
Now, PAXO tokens appear on the list of stablecoins, meaning that PAXO owners can already lend PAXO on CoinLoan to earn up to 22% interest on their assets. At the same time, borrowers can borrow PAXO under suitable conditions.
To deposit or withdraw PAXO stablecoins, please visit the My Wallet tab, choose the desired currency, and press the Deposit or Withdraw button. All you need to do next is to transfer coins from your wallet to a CoinLoan open address or vice versa.
How Is ONT Going to Work?
Ontology coins have been added to the platform as liquid collateral for stablecoins TUSD, GUSD, USDC, PAX (ERC-20), and PAXO (OEP-4). This addition means that you can get or provide a loan in those stablecoins secured by ONT.
Just like any other cryptocurrencies on the platform, deposits and withdrawals are available in the My Wallet tab.
Moving forward, CoinLoan’s focus will be on widening our currently expanding currency list. A new coin is coming soon, so keep an eye on our updates!