I’m happy to let you know that a lot of improvements and new features have been released today. You can find the complete changelog at the end of this article, but first, let’s see the most significant changes:
New Stake possibilities: Besides the existing ILK Stake, we added the Bitcoin and Ethereum options. As for bitcoin, we offer Stake options with the value of 0.01, 0.1 and 1 bitcoin, fixed one-month contract and guaranteed yield. In the case of Ethereum, the Stake option is for 1, 10 and 100 Ethers, fixed one-month contract and guaranteed yield. Both options offer not only the base interest rates but, in case the owner also has ILK token Stake, extra yields, too.
Consolidated Lending Log: ProLend events have been added to the previous version of this feature, besides Managed Lending events. This way, all loan-related events can be checked at the same place. You also can apply various filters as wel.
Instant Credit Line: A new feature has been added to the Borrow function. With Instant Credit Line, you can borrow money using your extra collateral value from your existing Loan contracts – created as a result of favorable exchange rate changes – without withdrawing it from the running contract and making a new one. Besides having a much simpler process, Instant Credit Line has no extra fees.
Extended dashboard Running Contracts view: In the future, the view of running contracts will include the status of Stake options, without having to open the Stake menu.
- Add ProLend events to Lend History view
- Add filtering option to Lend History view
- Add Stakes to Dashboard Running Contracts view
- Add detailed explanation to Stake Options’ Rewards, with examples
- Add a combined Stake option between BTC-ILK and ETH-ILK. Customers can earn more yield with combined stakes.
- Add BTC and ETH Stake options with fixed one-month contracts.
- Add a new way to manage your loan contracts: Instant Credit Line.
- Instant Credit Line helps to access extra loan amounts from running Loan contracts with a high overcollaterization rate.
- Instant Credit Line calculates with the original overcollaterization level and original lent amount of a contract without further prepayments and collateral amount modifications. (Borrowed money from Instant Credit Line must be repaid by the end of the original contract.)
Bugfixes and improvements
- Improve the KYC process to comply with the new EU 5 AML Directive.
- Improve internal AML screening process
- Improve weekly affiliate result notification email
- Complete Lend/Borrow API endpoints with APY calculation, beside APR calculations
- Fix affiliate reward calculation to Stake and Managed Lending rewards. (~50% reduce)
- Prepare to switch interest communication and calculation only with APY based, to make INLOCK services more comparable.
- Fix TokenMarket OHLC calculation (remove unnecessary rounding)