Nitrogen Network will now list the Gifto token (GTO) on its P2P lending platform.
The listing of the GTO Token is an important development for the asset, which will allow GTO holders to lend their holding and to borrow crypto assets by using their stake as collateral. Each loan on the Nitrogen network is secured against over-collateralization, thus ensuring that lender is always guaranteed his loan to be repaid. The current configuration of the Nitrogen Network does not set any ceiling or floor limits on the amounts that can be borrowed or lent.
Nitrogen Network features many advantages and innovative solutions. There are fully automated functionality of mark-to-market and an automated close-out procedure for ongoing trades, thus leading to full protection of lenders in the event if a borrower defaults or collateralization level drops to critical. Currently, Nitrogen is one of the only platforms that provides a completely decentralized, P2P experience. On the one hand, it means security, as Nitrogen does not have access to users’ assets, and all private keys are maintained by client-side applications. On the other hand, it means flexibility due to the “supply-demand” model without any pre-defined terms set by the platform. Users choose assets to borrow or lend, how much interest is to be set on the loan, and how much risk the investment will bear.
When compared to other similar instruments available on the market, Nitrogen has substantial advantages as it allows users to operate with a wide range of cryptocurrencies that can all be used as collateral in P2P operations. Such an approach allows crypto holders to make dynamic use of their portfolios under bearish market conditions and take advantage of temporary timeframes for using wide variety of crypto assets.
The current version of the Nitrogen Network is based on the Ethereum blockchain infrastructure and supports Ether and other ERC-20 standard tokens. The lending network is also currently working on implementing its cross-chain solution built with the application of Atomic Swaps technologies. The solution will allow BTC, EOS and other assets from various blockchains, which support scripting, to be added to the network.
GTO is an ERC20-standard token operating on the Ethereum blockchain. Asia Innovations Group (AIG) is the company behind the Gifto project and its main product is the Uplive, the fastest growing live streaming app. AIG is a Series B company with solid investor and advisors. The project is on track with a revenue of $100 million in 2017, 60 million users and over 500k content creators.
