SALT has so much utility value... You utilize the tokens to access their loan platform. SALT allowing you to access crypto loans is pure utility value. If you think SALT is a pnd you're clueless and out to lunch.

People that will borrow and lend will not be using the money for economic productivity, i.e. opening factories, setting up shops, etc.
Instead, the money will be used for pumping up the token/digital asset used as collateral for loans.
And this can be anything traded in Shapeshift, be it bitcoin, ethereum, tenx, omisego, bancor, etc, including SALT token itself.

The way I see it, the SALT Lending project is primarily a pump-n-dump business model.
While early participants of the ICO may lock in their over 13x massive profits thru selling, they may also be using their holdings to pump up the price, thus one reason why no outsiders heard about it when it was selling for 0.75.
Buy some millions of tokens at 0.75, use them as collateral for USD borrowing, use the USD to pump up the token price, sell to fools, use the profits to settle the loan and buy up more token, use additional token for further borrowing, use the new borrowing to pump up the price, rinse and repeat.
This can be very feasibly done because the supply of tokens sold at 3 and below is far more significant and constitute a major bulk of the entire supply.
Considering the lack of liquidity of token sold at 5 and above, such pump-n-dump operations can be very easily carried out.
And pricing tier sold at 0.75, 1.5, 3, 5, and above are simply an obvious red flag.
I am not sure if Eric from Shapeshift is a co-founder, but I suspect he is just an appointed one to be a public figurehead.
This pump-n-dump business model is very brilliantly designed, may be very profitable, but highly unethical and immoral.