Cobalt Lend is about to have its ICO on Halloween 2020 (October 31, 2020) DeFi

[Cobalt Lend]

The Cobalt lend platform is launching its ICO on October 31, 2020 (Halloween) and it will run for 30 Days. We are community based and powered lending protocol on the blockchain that enables community members to obtain micro loans from the treasury approved by community vote. Please see the Cobaltlend.com website for complete details. We plan on removing the banks and their authoritarian control and fees from the lending process one community at a time. Come be part of the revolution, all you need is an ERC20 wallet.

Brief description of project:

Cobalt – A new way to borrow!
The Cobalt lending platform aims to bring together borrowers into a fair democratic voting community in order to get all size loans from micro loans to six-figure loans all without the over sight of a bank, completely governed by the community and therefor the community directly profits from its’ involvement. The current credit system is fundamentally flawed and the Cobalt platform corrects this by facilitating a community voted and approved lending program on the blockchain that is completely based off the merits of the project, never seeing race, color, or individuals background. The only criteria considered for the loans will be merit of project and collateral provided by the borrower, then the community will be left to decide on funding the proposal or rejecting it.

The ecosystem works by allowing borrows to obtain loans from the treasury only if approved by community vote.

Both the buyer and staker /validator benefit from this model of decentralized lending because of less friction, lower fees and lower over head while reducing wait time for loans.

The model is a completely is a completely trust-less protocol with no central authority in charge.

Nor is there any one central body who can unfairly manipulate the terms of lending, as the community has complete control at all times and can fund or deny any project they deem worthy.
How we plan to incentivize the community

Borrowers are incentivized by receiving free Cobalt (CBLT) Tokens for borrowing, stakers will be compensated in two ways:
First by verifying blocks / transaction on the blockchain, therefor receiving transaction fees that will be split with the treasury
(And a small portion burned).

Second, stakers will receive dividends paid out in Cobalt (CBLT) Tokens periodically by the treasury based on the positive tracked performance of the projects funded by the community through the treasury.

The treasury will also conduct periodic buy backs of the Cobalt (CBLT) Token as well, this along with the coin burn occurring routinely on the protocol will contribute greatly to the deflationary model and therefor increasing the overall value for investors / wallet holders.
As many times as the banks have let us down, why do we continue to let them have control of the credit market(s)? Authoritarian control can only exist with the peoples’ willingness to accept it, break the chains of oppression and be your own bank!