Driven by client demand, CoinLoan announced adding Solana (SOL) to the list of available assets on the platform. Since 2020, Solana has grown by nearly 20,000% and has become a top-10 cryptocurrency by market cap. The first-ever crypto-based loan provider is providing an introductory offer for the first month.
Using Solana on CoinLoan
CoinLoan will make Solana (SOL) available on all three of its main product offerings:
- Instant Loans: Using Solana (SOL) as collateral, get instant loans in USDT, USDC, BUSD, TUSD, PAX, EUR, GBP, BTC, and WBTC.
- Interest Account: With SOL, you can get a 5.2% APY with daily compound interest. Furthermore, you can get 7.2% in total with CLT Staking.
- Crypto Exchange: You can buy and sell SOL at competitive rates.
In addition, you can take advantage of a 2% APY boost on CoinLoan interest accounts with SOL deposits before June 1, 2022. The APY would be 9.2% for users already holding CLT, while those without CLT can expect 7.2% APY.
SOL is the native cryptocurrency of Solana, a blockchain powering smart contracts through its low-cost and fast transactions. It is made possible by taking Proof-of-Stake (POS) to a new level with its unique Proof-of-History (POH) consensus.
“We are always listening to our users, both private and corporate, and are continually adding coins to expand our offering. CoinLoan’s vision of making cryptocurrencies a widely traded, easy-to-use investment asset is being delivered through our three main products and constant innovation,” said CoinLoan CEO Alex Faliushin. “We are very pleased to now be offering SOL to our network, one of the top currencies in market cap in the world, providing clients with more options and benefits.”
Established in 2017, CoinLoan is an EU licensed crypto-lending platform offering crypto-backed loans, crypto savings accounts, and a crypto exchange. Moreover, CoinLoan is one of the safest crypto lending platforms out there. Also, it offers over 25 cryptocurrencies, adding more as per user demand. Its highly-competitive loan and APY rates, transparent pricing, and 24/7 human customer support make it an ideal platform for new and existing users alike.