Offering safer loans means giving our clients better options to protect their collateral. Our clients come to us because they don’t want to sell their collateral in the first place, and we want to do whatever we can to help them protect it.
First, we started by sending additional reminders and alerts when our client’s loans reached critical levels, and we simplified the collateral top-up process on the platform. It helped many clients, but that still wasn’t enough - we needed to make the process even easier.
Later, we introduced the ability to instantly process transfer assets from our client’s Savings Accounts to their Loan Collateral address, so they would not have to wait for standard processing times or on-chain confirmations - and that helped even more clients.
But again, it wasn’t enough. Bitcoin trades 24/7 and we have clients all over the world. Regardless of when Bitcoin moved, some of our clients were inevitably asleep, or unable to access the internet - and they had the risk of being liquidated during a price drop. And so, we introduced Auto Top Up, a feature that does exactly what the name suggests; automatically tops up your loan collateral during periods of price volatility, pulling directly from your Ledn Savings account.
Since we’ve introduced the feature, more and more clients have been activating it. For those who have activated the Auto Top-Up, none have been liquidated during market volatility thanks to the feature.
With features like this, we’re working to make sure Ledn is one of the safest and most user-friendly lending platform in the industry.
Mauricio Di Bartolomeo is the Co-Founder and Chief Strategy Officer of Ledn Inc. He is the author of The Bitcoin Economic Calendar, a weekly market insights newsletter. Check out https://blog.ledn.io/en to subscribe.
This post is commissioned by Ledn and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results. Read Ledn’s disclaimers at https://www.ledn.io/legal/disclaimers.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.