Crypto loan — GEMCY

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Crypto loan

A crypto loan is the opportunity to take out a loan secured by shares. All profit from the loans is distributed to the co-owners.

Types of loans:

Loan to purchase a share

Share as collateral

Terms:

Term - open-ended

Interest rate - 3.75% per month

Required payment - once a month

Only a participant of the system can use the loan. All fees that the borrower pays when repaying the loan will go towards the development of the system and the profit of other participants.

How to start

Collateral

2× Share

NFT Gemcy

or BNB

ERC-20

collateral ↔ loan

You receive

1 000

USDT

500 USDT × 2 shares

Term

∞

open-ended

Rate

3.75%

per month

Payment

1×/mo

required

✓

Profit from interest is distributed among all co-owners of the system

Description of credit products

1.

Loan secured by shares

A standard loan with shares as collateral. An open-ended loan with interest payments. Receive 500 USDT for each share

2.

Loan to purchase a share

A loan to purchase a share. 50% of the cost will be returned to your wallet as a loan. Grow your assets even when funds are tight

3.

Loan against other assets

The option to put up other ERC20 standard assets as collateral. The loan can be issued against coins from the list of coins available for collateral.

Examples:

Loan secured by 2 shares

For example, you have a wallet with two shares. In that case, you can take out a loan for a maximum amount of 1000 USDT. For each share, the loan amount will be 500 USDT.

Loan for a share

You have 1000 USDT but are not ready to spend the entire amount. In that case, you can take out a loan to purchase a share. You will receive 500 USDT to your wallet as a loan, and 500 USDT will be deducted from your balance to purchase the share.

Loan secured by external tokens

If you need funds but do not want to take out a loan secured by shares, you can put up other assets as collateral, for example BNB. The loan amount will be calculated based on the current value of BNB and the established lending limit for that asset.

Policy of restrictions and rules for using the loan

As with bank loans, there are certain conditions for using the loan. In case of non-compliance with these rules, the co-owner may lose the pledged shares and be restricted from using the loan in the future

Restrictions

You cannot take out a loan for an amount that exceeds the total size of the loan fund

You cannot pledge a share that was purchased less than 30 days ago

Rules and warnings

In case of non-repayment of the loan within the specified period — the pledged shares will be irrevocably lost.

It is impossible to sell a share that is under collateral

Still have questions?

How much USDT can you receive against one share as collateral?

For each share in collateral, you receive 500 USDT. For example, with two shares as collateral, the maximum loan amount will be 1000 USDT.

What is the term and rate for a crypto loan?

The loan is open-ended — you can repay the principal at any time. The rate is 3.75% per month, the required payment is once a month.

What happens if the loan is not repaid on time?

In case of non-repayment of the loan within the specified period, the pledged shares will be irrevocably lost. Until the loan is repaid, it is impossible to sell a share that is under collateral.

Can a share be pledged immediately after purchase?

No. A share can be pledged as collateral only 30 days after its purchase. Also, the loan amount cannot exceed the total size of the loan fund.

What assets, other than shares, can be used as collateral?

ERC-20 standard assets, for example BNB, can be put up as collateral. The loan amount is calculated based on the current value of the asset and the established lending limit for that asset.

Where does the profit from loan interest go?

All fees and interest that the borrower pays for using the loan are distributed among the co-owners of the system proportionally to the size of their contribution and go towards the development of the system.