- 6th March 2019
- Posted by: emy
- Category: Media
In a previous article we set out the advantages of a healthy token ecosystem and an overview of the utility Lendo is building into its ELT token. As we pointed out then, the ELT ecosystem has been designed to have two types of utility: internal and external.
The ELT token’s internal utility covers use of the token to pay for products and services once the platform launches. At the moment, the internal utility will include credit cards that can be used for purchases online, at retailers and withdrawals at ATMs. There will also be a mobile wallet app, as well as the ability to pay various fees and commission on the loan platform with ELT. Eventually we anticipate that ELT owners will be able to use the token as collateral for a loan; subject to it achieving acceptable levels of stability.
Our aim has always been to deliver as many uses as possible, because the greater the number of usage opportunities, the greater the demand for the token, and this underpins the token’s value. That is why the team is also working on building external utility. The more use cases there are for ELT, the stronger its ecosystem and its sustainability.
Collaborate with us to build utility
That’s why we are now inviting merchants and other businesses to collaborate with us by setting up more use cases for ELT. In the spirit of partnership with our community, we are setting up a Bounty Programme to recompense those of you who bring us actionable proposals regarding business opportunities where ELT may be accepted as a form of payment. For example, this could be full or part payment programmes for financial products such as smart bonds, crypto funds and other similar products or services.
How the bounty programme works
For any merchant who agrees to accept ELT tokens as payment for their products or services, we as a company will match whatever the purchaser pays the merchant (or supplier of goods or services) with a 30% extra bonus in ELT paid from Lendo. This will of course be subject to us approving the business proposal and any transactions from purchasers being verified as genuine.
Contact us with your utility ideas
To contact us regarding your collaboration suggestions and join the Bounty Programme, please mail us at [email protected]
We look forward to hearing from you and hope that together we can develop a robust and sustainable external utility for ELT.