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<!DOCTYPE html>
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<title>ETHLend LEND Token Sale FAQ</title>
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<font color="white"><h1>Welcome to LEND Token Pre-Sale</h1></font>
<font color="white"><h2>Decentralizing Lending</h2></font>
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<div class="container">
<h2>LEND Token Sale FAQ</h2>
<h3>What is LEND?</h3>
<p>LEND is a ERC-20 compatible token that is sold for token sale participants. ETHLend aims to attract future users of the decentralized application by selling LEND tokens that will provide 25% discount on deployment fees on ETHLend, when paid with LEND.</p>
<p>ETHLend wants to deliver a strong token to the market by introducing airdrops for rewarding lenders and borrowers. ETHLend uses part of the fees on ETHLend to purchase LEND from exchange and distribute the purchased LEND to lenders and borrowers. The aim is to increase user adoption and provide more value for the product and for the whole ETHLend project by acquiring active user-base.</p>
<p>Our 24-month vesting plan for the developers supports the aim for delivering a strong token which total supply decreases as ETHLend becomes more popular.</p>
<h3>What is the funding goal on pre-sale and token sale?</h3>
<p>Pre-Sale: 2 000 ETH.</p>
<p>Token Sale: 37 600 ETH.</p>
<h3>How many LEND will be available on pre-sale and token sale?</h3>
<h3>Pre-Sale</h3>
<p>Pre-sale cap is 60 000 000 LEND (6% of total LEND sold).</p>
<p>Minimum amount to participate: 1 ETH.</p>
<p>Pre-sold tokens are deducted from the 1 000 000 000 LEND sold on official token sale.</p>
<h3>Token Sale</h3>
<p>Token sale cap is 1 000 000 000 LEND (deducted by pre-sold tokens).</p>
<p>Minimum amount to participate: 0.01 ETH.</p>
<p>The total supply of LEND shall be maximum of 1 000 000 000 sold LEND + 300 000 000 LEND dedicated to the developers and advisors fund.</p>
<h3>Will there be a follow-up sale?</h3>
<p>No. There will be no further LEND available for sale after Token Sale.</p>
<h3>What are the dates of the pre-sale and token sale?</h3>
<h3>Pre-Sale</h3>
<p>Pre-sale ICO starts on 25 September 2017 at 12 AM GMT.</p>
<p>Pre-sale ICO ends on 25 October 2017 at 23.59 PM GMT.</p>
<h3>Token Sale</h3>
<p>Token Sale ICO starts on 25 November 2017 at 12 AM GMT.</p>
<p>Token Sale ICO ends on 9 December 2017 at 23.59 PM GMT.</p>
<h3>How can I buy LEND?</h3>
<p>You can find <a href="https://github.com/ETHLend/ICO_SmartContract/tree/master/instructions" style="color:blue">here</a> all available purchase instructions in different languages.</p>
<h3>What is the price of LEND?</h3>
<h3>Pre-Sale</h3>
<p>Pre-sale cap is 60 000 000 LEND (6% of total LEND sold).</p>
<p>Token sale price: 30 000 LEND = 1 ETH.</p>
<p>(price includes already 20% bonus tokens for all pre-sale participants).</p>
<p>Minimum amount to participate: 1 ETH.</p>
<p>Pre-sold tokens are deducted from the 1 000 000 000 LEND sold on official token sale.</p>
<h3>Token Sale</h3>
<p>First 200 000 000 LEND: 27 500 LEND = 1 ETH.</p>
<p>(price includes already 10% bonus tokens).</p>
<p>Next 100 000 000 LEND: 26 250 LEND = 1 ETH.</p>
<p>(price includes already 5% bonus tokens).</p>
<p>Remaining LEND: 25 000 LEND = 1 ETH.</p>
<p>Token sale cap is 1 000 000 000 LEND (deducted by pre-sold tokens).</p>
<p>Minimum amount to participate: 0.01 ETH.</p>
<h3>What cryptocurrency can I use to buy LEND?</h3>
<p>You can use only Ethereum (ETH).</p>
<h3>What does LEND represent?</h3>
<p>Ownership of LEND does not entitle rights other than the right to use LEND on ETHLend and a 25% discount on deployment fees when paid with LEND. LEND does not entitle or represent any ownership right or stake, share, obligation, security or any equivalent rights, or any right to receive future revenue of the ETHLend company or foundation, shares, intellectual property rights or any other form of participation in or relating to the ETHLend applications, and/or ETHLend and its affiliates. LEND cannot be refunded and are not intended to be a digital currency, security, commodity, share, derivative, or any other form of financial instrument. Additional details on LEND is found on our <a href="terms.html" style="color:red">Terms & Conditions</a>.</p>
<h3>What are airdrops and how much of the collected application fees are used for airdrops?</h3>
<p>ETHLend will use LEND token airdrops to increase the user adoption and add more volume to the loan book. An airdrop means that a certain amount of tokens is distributed to the users of the decentralized application.</p>
<p>ETHLend will use 20% of the decentralized application fees (loan request fee and funding fee) to purchase LEND from the market and airdrop the LEND for all the lenders and borrowers on ETHLend, based on the previous period’s volume. These airdrops are done either quarterly or monthly based on the complexity of the process in practice. The airdropped LEND can only be used as a collateral on ETHLend and cannot be transferred to another address. The aim is to provide additional collateral value for the borrower, which reduces the amount the borrower needs to provide as collateral. The lenders can use the airdropped LEND for different functions on ETHLend, such as paying featured listing fees or paying prediction market or credit risk assessment bots.</p>
<p>Certain limitations apply to LEND due to security reasons and efficiency. First, we acknowledge that a free market does not always equal a fair market. Large volumes might be achieved with big loans. ETHLend will apply limitation on how much LEND is airdropped to an address. Secondly, the airdropped LEND must be used within 24 months. Therefore, once the airdrop is made, the borrower or lender must engage in lending within 24 months. Otherwise the LEND will go for redistribution to the next airdrop.</p>
<p>The Airdrop program starts from beginning of 2018.</p>
<h3>How are the tokens distributed?</h3>
<p>ETHLend sells maximum amount of 1 billion LEND. Each time the crowdsale smart contract receives ETH, the smart contract mints LEND and send the LEND to the senders address. The maximum cap for minting is 1 billion LEND.</p>
<p>ETHLend aims to raise 37 600 ETH in token sale and 2 000 ETH in pre-sale.</p>
<p>Additional, 300 000 000 LEND are distributed to ETHLend key personnel and Founders fund.</p>
<p>No additional LEND are minted, ever.</p>
<h3>When are the tokens distributed?</h3>
<p>LEND is distributed immediately once ETH is sent to the crowdsale smart contract. This solution provides more security since the crowdsale smart contract mints LEND when ETH is received. Therefore, participants can send smaller amounts to verify whether they have received LEND. Instant distribution is fair since the participants do not need to wait for weeks to access the tokens. Instead, once ETH is received, LEND is minted and sent to the participant’s address.</p>
<p>LEND can be transferred from one address to another once the token sale is over (9 December or when the cap is reached).</p>
<h3>Is the token sale secure?</h3>
<p>The token sale is performed with the use of Ethereum smart contract. Since all transactions are confirmed on the blockchain, the smart contract is resistant for security threats. The crowdsale smart contract code is be available on GitHub and the code has been reviewed and audited by third party security auditing service.</p>
<p>The smart contract in itself is simple to avoid complex transactions. The smart contract will have extra security since the tokens are minted only when ETH is send to the address. This means that only way to receive LEND is by sending ETH, making it more resistant to misuse and fraud. Moreover, this gives the participant the opportunity to send a smaller amount of ETH to test whether LEND is received. Therefore, if the token address display is compromised, the loss is limited.</p>
<p>The token sale page shall be held on a DDOS protected environment, on a separate server with writing locks on the token sale page files from the server side. The token sale page will be simple and as static as possible to avoid any complexity. Besides the above, additional security measures are adopted.</p>
<h3>How will ETHLend use the raised funds?</h3>
<p>ETH will be used to develop further the technology behind the ETHLend.</p>
<p>Below is provided funds allocation:</p>
<p>35% on core development</p>
<p>20% on user experience development</p>
<p>20% on management of ETHLend Foundation or LLC</p>
<p>15% on promotions</p>
<p>10% on unexpected costs</p>
<h3>Is there a vesting model?</h3>
<p>Yes. ETHLend development team and key personnel is bound to 24-month Vesting period. During the vesting period the LEND cannot be sold.</p>
<p>ETHLend introduces the following Vesting model for the core team:</p>
<p>80% of LEND is locked once Token Sale distribution has ended</p>
<p>60% of LEND is locked after 6 months from Token Sale distribution</p>
<p>40% of LEND is locked after 12 months from Token Sale distribution</p>
<p>20% of LEND is locked after 18 months from Token Sale distribution</p>
<p>0% of LEND is locked after 24 months from Token Sale distribution</p>
<h3>How will ETHLend store the raised funds?</h3>
<p>ETHLend will use a multi-signature wallet to store the raised funds.</p>
<h3>Can I trade LEND?</h3>
<p>Yes. LEND can be traded immediately after the token sale. However, the primary use-case for lend is as a discounted ticket for paying ETHLend DAPP deployment fees.</p>
<p>The token sale is over on 9 December 2017 or when the cap is reached. From that point on, LEND can be transferred from one address to another.</p>
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<p>2017 - ETHLend.io | Decentralizing Lending - All Rights Reserved - ETHLend.io</p>
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