We, at INLOCK, have always striven for providing a transparent environment for our customers, where they are able to construct their customized collateralization portfolios according to their convenience. Get the most for your Crypto! Crypto backed loans are available from now on with BNB (Binance Coin) collateral as well!
INLOCK is a multi-collateral based lending platform, where the customers can store a combination of cryptocurrencies in one contract to mitigate the negative effect of short term price fluctuations. With the multi-collateral (portfolio contract) support, INLOCK is one of the safest places when it comes to crypto-backed loans.
INLOCK and Binance Coin (BNB) share a common history. We support BNB deposits on ERC20 network since this February and it was also added to the Tokenmarket in March. After a long development, we dropped the ERC20 network support and switched to Binance Chain in our “Autumn” release.
Since Binance Coin (BNB) is running on the Binance Chain, INLOCK supports native BEP2 transactions. INLOCK platform is now eligible to support BEP2 based tokes as well. Along with this new feature, BNB – along with Bitcoin and Ethereum – is usable as collateral when taking out INLOCK loans. Thanks to this development; we can significantly reduce BNB withdraw fees! If you believe in BNB long-term, but you would like to use it in the meantime – you can access the purchasing power of your BNB tokens without selling them using INLOCK!
What is BNB?
BNB powers the Binance Ecosystem and is the native coin of Binance Chain. It has several use cases: you can use it to pay for trading fees on the Binance Exchange; you can use BNB to participate in token sales hosted on the Binance Launchpad; more and more vendors are accepting BNB as a payment method; BNB is also used to power the Binance DEX (Binance Decentralized Exchange). BNB still has a lot more for the future. For example, you can use it as collateral to get instant stablecoin loans on the INLOCK platform!
On the INLOCK peer-to-peer crypto-backed lending platform, customers can manage (and prepare for) various events, without the risk of substantial collateral loss. We are working hard in order to progress towards releasing the new features that we have promised.
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