What is Kairos Loan? Kairos Loan is a Lending platform for NFTs that helps users use NFTs as collateral to borrow a corresponding amount of money. Let’s find out what is special about this project with Weakhand in this article.
What is Kairos Loan?
Kairos Loan is a Lending platform for NFTs that helps users use NFTs as collateral to instantly borrow a corresponding amount of money.
Main audiences participating on the platform:
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Lender (Lender): Deposit assets to the platform to receive interest.
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Borrower (Borrower): Use NFT as collateral to immediately borrow a corresponding amount of money. The ratio of loan amount to collateral depends on the quality of the NFT used as collateral.
Operating Model of Kairos Loan
Kairos Loan’s operating model follows the following steps:
- Step 1: Lenders submit assets to the platform and set loan terms.
- Step 2: Borrower deposits NFT onto the platform as collateral, Kairos Loan now finds Lenders with the best lending terms for Borrower.
- Step 3: Borrower accepts the loan terms and immediately receives the loan amount.
- Step 4: Borrower can repay the loan + interest at any time before the due date and get his collateral back.
Sale: When the loan is due, if the loan is not paid, Borrower’s mortgaged assets will be sold for liquidation. Kairos Loan used Dutch auction system lasts 3 days.
What is the Difference of Kairos Loan?
Lenders must compete with each other to provide Borrower with the best loan. So, Borrower in addition to getting the loan amount instantly also has the best loans.
A loan can be backed by one or more lenders. In case of liquidation, one of the Lenders can buy back the shares of the other Lenders to have all the shares at the Dutch auction price and claim the NFT at any time.
Currently, Kairos Loan is only deployed on Ethereum, but in the future they intend to deploy on many other chains to attract more users.
Investor
May 22, 2023: Kairos Loan announced the successful call for $1M USD from investors such as: Atka, BLockhub, nxgen,….
Core Team
Joseph Bosselut : CEO
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He graduated with a master’s degree in technology and innovation management from Paris Dauphine University.
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He joined Edmond de Rothschild company as Project Manager from September 2018.
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After that, he moved to work for Bpifrance as Innovation Financing Analyst from September 2020.
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In early January 2022, he decided to start a business and established Kairos Loan.
Nicolas Pasquier : CTO
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He graduated from the University of Paris.
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He joined as a Developer for many Blockchain projects from the beginning of October 2021.
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In June 2022, he joined Kairos Loan and is currently holding the position of CTO.
Tokenomics
Update…
Information Channel of Kairos Loan Project
- Website: https://www.kairos.loan/
- Twitter: https://twitter.com/kairosloan
- Medium:
summary
Kairos Loan has improved compared to the traditional Lending model, giving borrowers more benefits in their loans. However, the protocol is still in Testnet mode so there is not much data yet to verify its effectiveness. Hopefully this article has brought everyone useful knowledge about Kairos Loan.