Sponsored
258
views

MyConstant – Peer-to-Peer (P2P) DeFi Lending For the Digital Age

MyConstant is a next-generation crypto-backed, multi-market P2P lending platform. The platform focuses on peer-to-peer lending of both fiat and crypto assets. It enables anyone to secure an ROI by lending funds to other users via the network’s lending pools.

Notably, DeFi P2P lending is one of the fastest-growing sectors in the cryptomarket at this time. MyConstant enables anyone to receive instant access to fiat and crypto-backed loans that are collateralized against multi-coin collateral. In this way, MyConstant streamlines the lending process.

What Problems Does the MyConstant Attempt to Fix?

MyConstant gives the average crypto investor access to funding that might not have been available. Unfortunately, it can be tough for some people to access funding via the traditional financial system due to centralization. In most instances, getting a loan requires a person to deal with multiple gatekeepers. These individuals decide if you are worthy of a loan based on their criteria. Worst of all, you may never know why your loan was denied.  

MyConstant eliminates the central banks from the lending equation.  Instead, the network directly matches borrowers and lenders. As part of this strategy, the platform provides open access to all. 

Investor Confusion

The developers have gone to great lengths to remove all financial and technical barriers. For example, you only need $10 to start lending or borrowing funds. MyConstant addresses investor confusion in multiple ways. Primarily, the integration of blockchain technology offers a more streamlined user experience to the market. 

The centralized system in place today lacs the transparency of MyConstant. The network operates as a customer-focused financial platform. Primarily, it’s because these systems were never meant to share data with users so freely. In comparison, MyConstant users can easily borrow against multi-crypto portfolios in minutes. Additionally, the network’s dashboard is easy to navigate and provides you access to crucial data to make informed lending decisions.

MyConstant Features

There are a lot of features and benefits that make MyConstant a popular choice for investors. For one, the platform supports an excellent selection of tokens. Additionally, you can choose to automatically or manually top-up to secure your loan fully. This strategy eliminates the gatekeepers and human error. There’s also never any credit or background check required. 

  • Instant Access to Funding

It only takes five minutes to get a loan from MyConstant. Best of all, users can borrow with an LTV ratio of up to 66%. You can set the parameters of your loan as well. Specifically, there are 1, 3, and 6 month lending periods available.

For example, you can borrow USD 1000 with collateral of just .0446 Bitcoin. You can set your term length to suit your needs. The longer the repayment, the higher the APR will be. You can also select to receive the payment in USD or crypto. 

myconstant loans

  • Low Fees

MyConstant borrowers enjoy low interest rates compared to traditional lending services. The network averages around 6% APR, and there are low matching fees of 3.5% on crypto loans. This strategy enables users to save compared to the industry average of 5% matching fees.  

  • Security

To get a loan on MyConstant, you must provide collateral. When you repay your loan, these funds get automatically returned to your wallet. The network integrates Prime Trust as its fiat custodian.

MyConstant Mechanics

There are two main participants in the MyConstant network, borrowers and lenders. First, lenders secure interest on their crypto loans. Notably, a lender can secure up to 7% APR by investing in P2P loans.

Borrowers also enjoy low rates and a streamlined lending experience. It only takes a few seconds to choose your terms and select your payment options. Users can continue to HODL their crypto and still access the funds they need to continue their daily lives. In this way, MyConstant offers a way for you to retain market exposure without relinquishing ownership of your digital assets. 

Choose How to Receive Your Loan

There are a lot of choices in terms of how you would like to receive your loan. You can opt for fiat currency. The system will automatically deposit USD into your linked bank account. You can also receive your loan in stablecoins or cryptocurrencies. The network supports 71+ cryptos at this time. To accomplish this task, the system searches multiple exchanges for the best prices in the market.

There are many reasons you would choose to receive your loan payment in different currencies. For one, you can select USD to take the funds for use in your everyday life. There is also a gift card feature that enables you to secure 3% cashback on purchases. Furthermore, if you seek to continue trading on another platform, stablecoin withdrawals are a wise decision. Lastly, withdrawing in cryptocurrencies allows you to leverage assets in multiple currencies. 

Collateral Options

To qualify for a loan, you need to provide collateral. Notably, there are a couple of different ways to accomplish this task. For example, you can choose to borrow against your whole portfolio or single crypto. There are also some advanced repayment and even top-up options.  

The system can automatically top up your loan from 110% to 120%. You can also select a manual top-up. In this strategy, the system will send notifications at 125%, 120%, 115% regarding the state of your loan. Also, you can use any token supported by the network to secure your loan, depending on if you choose to isolate it or not.

Repayment

Once you agree to and meet the terms of your loan, your collateral is returned directly to your wallet. If the value of your collateral drops too much or you fail to adhere to your loan requirements, your collateral will be liquidated to ensure the network remains financially buoyant. The liquidation percentage is 110%.

MyConstant Company History

MyConstant entered the market in January 2019 as a stablecoin project. At that time, the developers behind the project wanted to provide countries suffering from crushing inflation with to protect their wealth. After doing more research and development, the team decided that DeFi services would enable users to secure profits just for holding the token. In the coming months, the platform will add even more features, including the ability to short markets.

MyConstant’s network has expanded considerably from the launch of the project as a stable coin in 2019. Today, the platform operates as a full spectrum DeFi ecosystem. Notably, MyConstant has secured lenders more than $1,052,281.499 in total interest earned.  

MyConstant – A More Democratic Lending System

Bitcoin live price
Btc
Bitcoin
$24.025
price
1.08605%
price change
BUY NOW

MyConstant has succeeded in creating an easy-to-use multi-market P2P lending platform. New users don’t need any previous experience navigating the dashboard and accessing all of the network’s powerful features. This simplistic design, coupled with a healthy selection of features, makes MyConstant a platform worth taking another look at. 

Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects or cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More

Stay up to date with our latest articles

More posts

Decentraland – A Virtual Reality Platform Unleashing the Blockchain Potential

Since its inception, virtual reality has been a phenomenon. People have been fascinated by the idea of stepping into another world that humankind created. With Decentraland, this fascination has become a reality.  Decentraland is a popular virtual reality platform that allows users to create and experience anything they can imagine. Decentraland is also a cryptocurrency platform. Within the Decentraland ecosystem, users may buy goods, services, and real estate with the MANA token. The MANA token enables the project's founders to…

Chain Pet – A Play-to-Earn Ecosystem for an Enhanced Crypto Experience

Blockchain gaming is starting to take off, and Chain Pet is one of the games leading the charge. In this review, we'll look at Chain Pet's main features and how it sets itself apart from the competition. Chain Pet is a play-to-earn ecosystem that rewards players for their contributions. By upgrading, breeding, and combating their elves, players may construct their world. The elves obtained are all personal assets, so finding a partner is essential to help you get started. One…

LoserChick – A GameFi Crypto Platform Relying on Staking

LoserChick is a fun and addictive new game that allows players to catch and smash eggs for NFTs. In addition to providing many ways for players to earn, LoserChick also offers lower gas fees and higher transaction speeds.  Because of its relationship with Polygon, it's an excellent option for gamers seeking to spice up their day a little. This review will analyze LoserChick in detail, so be sure to check it out if you're interested in learning more. What is…

AbellWorld – A Gaming Ecosystem Using NFTs and DeFi Technology

Cryptocurrencies are changing the gaming industry, with new platforms and games emerging that use blockchain technology and decentralized systems.  One such platform is AbellWorld, which uses NFTs and DeFi technology to create a gaming ecosystem that benefits players economically.  In this article, we will discuss how AbellWorld is providing a decentralized solution for all crypto gamers. What is AbellWorld? AbellWorld is a gaming ecosystem that uses NFTs and DeFi technology. It aims to be fair and equitable, focusing on data…

Bots.io – Getting Started with Automated Trading Bots in One Minute

If you want to enter the crypto world, you'll need a tool helping you make the most of your investments. Trading bots are software programs that use historical data to analyze current market trends. This analysis allows a bot to predict where prices will likely head in the future.  This information can help a bot make buy and sell decisions, allowing traders to automate their strategies and maximize profits.  Bots.io is a popular solution for crypto traders that offers many…

WunderTrading – Advanced Automated Crypto Trading for Every Investor

If you're looking for a reliable and automated crypto trading solution, WunderTrading is a popular option. With years of experience in the market, they offer a simple and easy-to-use platform perfect for beginners and experienced traders.  You can trade manually or use their powerful bots to automate your trading strategies. Let us learn more about WunderTrading in today's review. What is WunderTrading? WunderTrading is a trading platform that offers a wide range of features for beginners and experienced traders. These…

Trality – Automated Trading for Crypto Enthusiasts

If you are an enthusiast trader in the crypto market, you want to make the process easier and more profitable. Trality is one solution that has been gaining popularity among traders.  It is an automated trading bot that allows users to trade cryptocurrencies quickly and predictably. Let's take a closer look at what Trality offers and how it could benefit your trading experience. What is Trality? Trality is a platform offering traders and developers many benefits, including a code editor,…

The Bandit Project – How to Earn Passive Income by Staking NFTs

The Bandit Project is a new DeFi protocol aiming to empower NFT holders with passive income opportunities. Moreover, the initiative allows users to own a part of the project and share the revenue with the developers by providing liquidity. It’s worth noting this project is still in its early development stages. Nevertheless, it is advancing relatively fast, with the public presale for its $BANDIT token just around the corner. The much-anticipated event will take place on August 11 at 11…

Floyx – A Project Ready to Change the Social Media World with Decentralization

Blockchain technology is helping creative teams redesign aspects that belong to the Web2 world. The possibility of launching decentralized systems is opening a new set of options in the social media industry too. Today’s review will analyze the main features of Floyx, a new initiative wishing to overcome centralized social media. We aim to share information neutrally, enabling the readers to assess this project’s value proposition. About Floyx Floyx believes that, in the future, social media will be completely decentralized.…

Runnerland – An NFT-Driven Nostalgic Gaming Experience

Runnerland is a new game running on the BNB Chain, allowing users to fight, collect, and exchange items for real money. Fueling the game is a collection of rare NFTs enabling players to build and modify their characters into unique assets. Most importantly, gamers can enjoy a bit of action-adventure nostalgia as the game's universe mimics cult classics like The Legend of Zelda. This Runnerland review looks closely at the game’s features and blockchain-based utilities. Read on to discover its…