Income Locker Lending Platform

Cryptocurrencies have now deeply penetrated public awareness and blockchain technology increasingly appears to be an inevitable part of our future. As its adoption accelerates, so does the demand for supplementary services.

We believe that companies who are able to meet the demands of the new cryptocurrency market with innovative solutions will be the unicorns of 2018.

Solving Bitcoin’s
$60 Billion
Spendability
Problem

$60 billion is the total value of bitcoins that haven’t moved in over a year. Indeed, many long-term holders prefer not to sell their bitcoin, expecting the price to increase due to its deflationary nature. However, the result is a spendability problem. This is where Inlock comes in. By providing a way to unlock bitcoin’s purchasing power and retain the bitcoin, long-term holders can now experience the best of both worlds.

INCOME LOCKER is a lending platform which enables cryptocurrency holders to manage short-term liquidity problems by taking out a loan, using their existing cryptocurrencies as collateral.

Similarly, accredited institutional lenders can use the platform to provide risk-free loans to cryptocurrency holders. Since the collateral is converted into FIAT currency immediately, the risks involved for the lender party are almost identical to a bank deposit while accruing higher interest rates.

Inlock is also the first lending platform that is fully compliant with existing regulations.

Loans are established directly between the two parties, while Inlock simply ensures that the agreement conditions are recorded. Essentially, our solution is a set of smart contracts facilitating loan agreements between lenders and crypto holders in a trustless environment.

The fuel for this facilitation is the ILK token (ERC20) that governs the relationship between lenders and crypto holders. We ran extensive modelling on the token architecture to accurately price ILK tokens for the token sale scheduled to take place in September.

Network
launch in
July

Our product launch is scheduled for Q3 2018, at first with a limited credit supply from the initial lenders. After this beta period, we aim to launch the fully-functional platform towards the end of the year, meaning that by the time our tokens are sold, Inlock will have a fully-working product that’s ready to be used by the public.