Press release: Constant announces support of VeChain tokens on its fully secured peer-to-peer lending platform
CALIFORNIA — May 29, 2019 — Constant (https://www.myconstant.com/), a decentralized finance blockchain project, today announced the support of VeChain (VET) tokens as collateral for loans through their P2P lending platform.
“On-boarding VeChain was an important milestone for us,” said Duy Huynh, founder of Constant. “Their practical enterprise applications on their are already fostering some big-name partnerships. Adding VET as collateral on our platform ensures their growing community can access capital without sacrificing their stake in what’s proving to be a very promising blockchain initiative.”
Constant is the first fully secured peer-to-peer lending platform built on blockchain technology. Investors choose their own interest rates, and directly fund borrowers willing to pay them. All borrowers must put up cryptocurrency collateral to secure their loan, which is sold if they default, or if its value drops beyond a certain threshold.
Now, the VeChain community can stake VET tokens in return for a loan using Constant’s platform. Since there are no credit checks or risk evaluation, Constant unlocks liquidity for VET token-holders who need cash but don’t want to sell their tokens. As VeChain adoption increases, this opens up borrowing opportunities to potentially underserved markets.
“Many crypto holders — especially in the current climate — want to get liquidity without needing to liquidate,” added Huynh. ‘There are many promising blockchain initiatives out there, each with its own community, and our goal is ensuring these communities can access easy, affordable loans regardless of the tokens they hold.”
VeChain comprises a range of blockchain-enabled solutions, including ToolChain, a Blockchain-as-a-Service (BaaS) platform, and several enterprise applications for digital content distribution, logistics, agriculture, and carbon reduction. Their focus on delivering practical blockchain technology has won them partnerships with BMW and Deloitte, with more to come in the future.
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Headquartered in California, Constant is an alternative financial services platform designed to strip out the inefficiencies of the traditional banking industry and help people get more out of their money. Constant was founded by a team of scientists, economists, engineers, and designers, fully devoted to the mission of building simple, elegant financial tools for an increasingly interconnected world.
VeChain began in June 2015, focusing on building a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration and high-speed value transfer. Specializing in blockchain and IoT technologies, VeChain has become one of the few blockchain platforms with real-world business applications adopted by reputable enterprises across multiple sectors worldwide.
By providing robust and secure blockchain infrastructure, enterprise solutions, turnkey packages and development tools in both software and hardware, VeChain aims to enable its business partners and developers to adopt blockchain solutions for business and create a powerful and sustainable ecosystem.
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