Zcoin and Constant team up to bring more secure and private finance to the blockchain.
Today Zcoin and Constant P2P lending are announcing a new collaboration giving the XZC community greater financial liberty online.
Constant, the fastest-growing lending platform in Southeast Asia has matched over $3,000,000 in loans since its launch this year. They credit their growth to their speedy and anonymous crypto-backed lending services.
“Constant is a very different platform from competitors like Lending Club,” said Duy Huynh founder of Constant, “Because our loans are crypto-backed we don’t need to use invasive credit checks. Borrowers just need to deposit the necessary assets as collateral and we can match them up with investors quickly.”
So why get a loan with Constant using Zcoin?
While we like to think we are prepared for most emergencies, life happens. Maybe you need to make a sudden hospital visit and rack up a bill that you aren’t currently able to pay.
Or maybe you are itching to buy in on a new coin project but want to keep holding Zcoin. By using your XZC as collateral you can free up liquidity to invest in another project or obtain some extra cash while still holding onto your XZC.
Getting a loan on Constant is simple.
On the Constant site, borrowers select their desired collateral type (XZC, for example), interest rate, and term. They are quickly matched with a lender on the platform who will issue a loan after XZC is sent to a collateral escrow account.
Borrowers then select where they want their loan sent and can withdraw in USD or any of Constant’s supported stablecoins. Upon payment of the loan plus interest, the original XZC is sent back to their account.
Constant is a great tool for crypto-holders to unlock the value of their assets if they want to diversify or get some extra cash,” said Huynh. “We are very happy to be working with Zcoin, one of the most influential blockchains for privacy today.”
Zcoin is a cryptocurrency designed to bring more privacy to the blockchain by hiding transactions from the ledger.
Zcoin recently made the switch to their new Sigma Protocol this year. In the protocol, users anonymize their assets on the system by “minting” XZC into private coins. During the minting process, the original XZC coins are destroyed. When the coin is later redeemed via the protocol’s “spend” function, an entirely new baselayer coin is created. This coin then appears as if it were freshly mined, removing any link between the minted coin and the one being spent.
The Sigma Protocol achieves this high degree of privacy without using a trusted setup. This means that unlike other coins, you don’t need to trust that the developers have set up the cryptography the right way.
By leveraging XZC on Constant, holders gain more personal freedom in what they can and can’t do with their assets. They are also helping to expand a platform giving the world more options for lending online.
Zcoin strives to increase individual liberty. By guaranteeing financial privacy, Zcoin can help ensure freedom of commerce. People should be able to transact however they want, as long as it does not infringe on the well-being or individual liberty of others. We are also big believers that freedom of commerce also facilitates peace and prosperity across countries and cultures. By guaranteeing financial privacy, Zcoin can directly guarantee fungibility, an essential property for free commerce.
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.
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