There isnt any other service similar to SALT (SEC approved, loans form banks/accredited investors etc).

However, there are plenty of services outside the crypto world that allow vert volatile assets to be collateralized. Their rates, collateral required etc are very similar.

It is common for these types of loans. Similar to their approach to overcollateralization (or credit enchancement).

The white paper (https://cybcsec.com/xcswhitepaper.pdf) is a joke.

They claim pretty much everything from ringCT to smartcontracts etc. they just present technologies and say we have this and this and this without answering any real questions.


Also the whitepaper is plagiarised as f. It is a mess and a copy of a ton of random crap. For example their TOR section is EXACTLY the same as Tokenpay's section - https://medium.com/tokenpay/tokenpay-is-fully-integrated-with-the-tor-network-e7017f478789, Their Zero Knowledge Proof section is plagiarised from wikipedia https://en.wikipedia.org/wiki/Zero-knowledge_proof etc.

This coin is the true definition of shitcoin scam. Do not fall in the trap of investing into pure unadulterated crap. Learn how to do research... ffs.. you want to invest into a real private coin with fundamental and tech? Invest in monero. Hold and thats it.

OK. To clear some misconceptions.

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It is regulated by SEC. See the following link for their license: https://www.sec.gov/Archives/edgar/data/1686400/000168640016000001/xslFormDX01/primary_doc.xml.

SALT is not p2p lending.  SALT essentially enables accredited investors/banks etc to lend money using crypto as a collateral. Collateral is 250% of principal BUT there have been unverified reports of 20% of principal.

https://imgur.com/a/H4Pn3
https://imgur.com/a/xthrl (terms here that verify the 250% claim).

Interest is anywhere from 12 to 25%

Loans are to USD only. They can be deposited to any bank account worldwide that can accept USD.

If the value of the collateral drops you will be asked either to top up your collateral. Failure to do so will result in margin call and qualification of part of your collateral.

You can use the SALT token to pay back part of the loan but NOT the whole loan and not from the get go.

You need SALT token to apply for membership to get approved.

Loans are going through but the process is slow (see above for docs).