Exactly one year ago today, the INLOCK platform launched with the tokenmarket function, which was soon joined by the superposition and then the full peer-to-peer lending function. The past year was about learning for the entire INLOCK team, as we have had the opportunity to run features that have so far been tested in a narrow range, in front of a large client base. Over the past year, more than 6,000 users have opted for INLOCK and have carried out a total of 143,000 financial transactions on the platform. The thousands of lenders and borrowers held nearly $ 10 million worth. Our lender clients earned an average interest of 14.7% after all of their allocated placements. This clearly demonstrates that full peer-to-peer lending functions are also justified.
In 2019, INLOCK became a partner in Europe’s largest alternative finance (Altfinator) initiative, following which in September the platform’s own token was listed on Liquid, one of the most advanced cryptocurrency exchanges. The product has been continuously extended with new features, including the introduction of Binance Coin (BNB) as a hedging tool on the platform, and during the second half of the year, we have made great efforts to make our application interface as easy to use as possible for our customers.
We are currently in the middle of our biggest platform development since the launch of INLOCK, in which we have completely rethought the INLOCK service. Here’s what to expect for INLOCK in 2020:
– The preparation of the INLOCK mobile app is well underway, which will be available on both Android and iOS devices.
– The “INLOCK Staking” service will be introduced soon, which will be an important basis for a completely redesigned lending function.
– In addition to the current “market competing” lending, a whole new use will be introduced where customers can earn based on a fixed interest rate.
– The “INLOCK Shield” service will be launched, which is a completely unique innovation in the crypto-based loan market. Thanks to this service, locked collateral for loans will be significantly more protected against flash crashes caused by potential market volatility. Also, if the collateral of a loan is terminated, it will not mean that it is lost forever.
– We are working on the INLOCK white label program that allows anyone to integrate INLOCK services into their products.
All of these features will be available in 2020, but there are a number of additional product and business developments aiming to make it easier and more convenient for customers to use INLOCK. In this regard, we pay special attention to making it easier for our clients to use their loans. In light of the above, there will be quite a lot of major announcements to come this year.