CoinLoan Loyalty Program and New CLT Utilities

AnnouncementDec 16, 2021
Loyalty Program & New CLT Utilities

Hi CoinLoaner,

We are happy to announce our plans to create a brand-new Loyalty Program and extend the CLT utilities on our platform.

Loyalty Program

We are developing a new Loyalty Program for CLT holders. In the Program, our clients will have the opportunity to reach four levels: Starter, Value, Advanced, and Performance. Please see the table below for more details:

Loyalty Program Levels
Loyalty Program Levels

Each level will give advantages in several CoinLoan products and services. The tier you are ranked at depends on the share of Staked CLT to your total Interest Account balance. The more the share, the higher your level.

“The CLT price has gone up significantly since launching the Staking mechanism. Therefore, we realized that a floating calculation dependant on the account holder's balance is better than a fixed one for everyone,” – said Eugene Zomchak, CoinLoan Product Owner.

That is why we would like to change the Staking mechanism on Interest Account from fixed to floating. Thus, for the Starter level, if the CLT share of the Interest Account balance is between 2.5% and 5%, you will be given an increase of 0.5 pp (percentage point).

For example: if your Interest Account rate is 10.3% for USDC, then with the Starter level of the Loyalty Program, it will become 10.8%.

Our goals in doing that:

  • Simplify the CLT Staking conditions
  • Make CLT Staking accessible to everyone
  • Expand the Loyalty Program to other products through CLT Staking

New CLT Utilities

At the moment, our clients can use CLT as Loan collateral and get a 50% discount off the origination fee when paying with CLT. In addition to the Loyalty Program, we also plan to launch new CLT utilities to the Instant Loans functionality, such as a discount on Loan interest when paying with CLT, CLT as loan currency, and other benefits you may enjoy.

The first steps start in the second quarter of 2022 with additional expansion during the year. Further announcements are coming shortly.


Disclaimer:
The information provided by CoinLoan ("we,” “us” or “our”) in this report is for general informational purposes only. All investment/financial opinions expressed by CoinLoan in this report are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information in this report.

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