INLOCK’s ICO start date is rapidly approaching, so we thought we would give you a quick heads-up about how we’re doing, what we have already accomplished!

As you know, INLOCK has embarked on a journey to solve the spendability problem of cryptocurrencies by creating a platform where institutional lenders can offer fiat loans to customers who lock their crypto as collateral. This is an ambitious endeavor, and we are thrilled to have you on board! We highly value your support, and because we believe transparency is key to building a successful business with a loyal customer base and satisfied investors so to show our appreciation, we compiled a comprehensive list of our achievements, milestones, and various other metrics.

Before we get down to actual business, let’s first see what business we are in. INLOCK is a crypto collateral backed fiat lending platform where institutional Lenders compete for Borrowers. When someone wants to take out a loan, they submit a lending request of the platform and multiple Lenders can offer loans with various terms. The loan contract is formulated once the Borrower picks the loan with the most favorable parameters, and the loan amount gets disbursed into the Borrower’s bank account within a few hours.

Our whitelist registration is now open

The most significant differentiator between traditional and crypto backed loans is the certainty of loan repayment. With the minimum over-collateralization amount of 5%, the crypto collateral covers for the total loan value plus interest. The collateral gets locked down at the time of contract formulation, essentially meaning the loan and the interest is repaid even before it has been paid to the borrower. INLOCK doesn’t hold a centralized pool of liquidity, it only acts as an intermediary service provider helping Borrowers find the best loans. The platform features a number of roles, namely the Distributed Supervisory Board Member, the Collateral Manager, the Payment Provider, and the Matching Service Provider. To gain a clear understanding of the specific duties of these roles, we have outlined the most important aspects of them below. For a fully detailed description please refer to our Whitepaper or Business Opportunities documents.

To use the platform, customers must hold and spend ILK tokens. The ILK is a utility-type token with a mathematically proven model that forms an integral part of the INLOCK ecosystem. When a Borrower takes out a loan, he or she must pay 0.25% of the US$ value of the collateral in ILK. The ILK token has received a Howey-score of 0, which is the best possible score for a utility token.

Collateral Manager (CM) role overview:

The chart below clearly illustrates why the Collateral Manager is one of the most sought after positions on our platform. Collateral Managers are responsible for looking after the Borrower’s crypto throughout the duration of the contract. They are the ones that liquidate in case the collateral no longer covers for 105% of the total loan amount plus value. Borrowers also deal with the Collateral Manager when they want to extend a contract or swap the type of crypto used as collateral.

Basically, anyone could be a Collateral Manager, although in some countries the fulfillment of this role is bound by various licenses. In Estonia for example, obtaining a crypto-fiat exchange license is mandatory in order to become a CM.

Based on our current simulations, 7.9% of contracts should be terminated because of market volatility and the lack of contract management by the Borrowers. CMs are able to generate income from these actions, reaching almost $35 million US on average. In addition to being rewarded for terminating contracts, CMs also get income through ILK rewards: around $5.16 million US annually. That total income from CM-related activities results in a ~9% interest rate for CMs’ own collaterals.

Supervisory Board business highlights:

The Delegated Supervisory Board Member acts as an oracle in case there is a dispute on the platform. To become a DSB member, holders of the specified amount of ILK tokens must also have an Investor Prime identifier. During INLOCK’s private sale process, 100 of such identifiers were made, which will be issued to early investors of the platform. Owners of these rights are free to assign or sell them to other ILK token holders using a purpose-specific trustless smart contract. The Investor Prime right is not sharable or dividable. Supervisory Board Members are paid for their work at the end of every financial cycle. Financial cycle closing happens at the end of every quarter on the INLOCK platform. 5% of all running contracts’ ILK expenses get distributed between active DSB members based on how many ILK tokens each individual DSBM holds. This reward is paid even if the member did not have any tasks in the given period.

What exactly is the job of the Matchmaking Service Provider? (MSP)

Anyone can become an MSP who has a crypto-holder user base to whom providing short-term liquidity problem solutions with crypto collateral would be of benefit. His role is to connect his own customers with INLOCK’s outsourced partners through the API (payment providers, collateral managers, lenders). When a loan is accepted, it is the MSP who initiates contract creation using the INLOCK Smart Contract Factory. Since there are no KYC requirements towards the MSP, he is not obliged to perform KYC on his own customers, although skipping this step would result in substantially fewer offers from lenders. The lenders who do make offers will most likely use their own KYC processes. Those MSPs who do not have their own KYC processes can use INLOCK’s own opt-in KYC solution, through which the MSP only receives a unique KYC identifier number. Doing it this way saves them from handling personal data (see GDPR requirements).

INLOCK has already raised $2.1 Million during the private sale; our public sale opens on the 15th of September.

Tackling the $60 Billion spendability issue is an ambitious endeavor, and we would like to see everyone believing in our project to get on board! We highly value your support, and because we believe transparency is key to building a successful business with a loyal customer base and satisfied investors, we have compiled a comprehensive list of our achievements, milestones, and various other metrics.

  • Our investors contributed a total of $2.1 Million during the private sale
  • Our smart contract was successfully audited by Coinfabric
  • Mate Tokay, the COO of has joined our advisory board
  • We have a fully functional MVP demo platform where users can get a feel for what it’s like to take out a loan, how the platform operates
  • We had a successful bug hunt where participants uncovered a number of minor bugs which we have already fixed. We are grateful to the community for doing this, as having hundreds of individual testers during development is extremely important early on to maintain a professional image. It was worth every single ILK token we paid for the bughunt, as the results are outstanding.
  • 2485 users tested our MVP, of which 393 locked some crypto as collateral. The total value of collateral locked on the prototype platform is $1,073,497, and users have posted 378 lending requests. To the 378 lending requests, there were 1813 loan offers which Borrowers can choose from, and 194 went all the way to taking out a loan. Total liquidity in our internal ILK token market is 35,851,455 ILK during the test period.

INLOCK was represented by our teammates at the International Blockchain Summit in Dubai in the beginning of August, and we were just recently represented at WBF London this week by our advisors.

As part of our roadmap, we signed the MoU with VirPAY, we have on-boarded our first institutional lending partner who will also act as our first payment provider on the platform.

Our follower base is growing steadily; below you can see the numbers on various platforms!

Twitter – 7500+
Facebook – 7200+
Telegram – 35300+
YouTube – 6000+


We issue at least one original article on our Blog and Medium every day, and we are being featured on news sites regularly – below you can find a few links to major articles about INLOCK. We are proud to say these appearances are organic, INLOCK is compelling enough by itself without having to “buy” article spots to get the word out.

We have managed to achieve excellent ratings on major ICO listing sites, the community shows anticipation towards our project!

ICO Bench – 4.6
Find ICO – 5
Track ICO – 5
ICOmarks – 9.1

We established valuable partnerships with Mate Tokay ( COO) and with who are happy to help us with their knowledge and experience in both the ICO and the crypto space in general.

Best regards,

Csaba Csabai

We will keep you posted about how the ICO is going, but until then you can follow discussions about INLOCK on Bitcointalk, Reddit, or our Q&A channel on Telegram!

Inlock on VentureBeat
Inlock on Bitcoinist
Inlock on WalletInvestor