Real estate secured loan investment platform TokenLend will launch a pre-sale of their LendCoin token (TLN) starting from March 1 and ending on March 11.
TokenLend is an Ethereum-based platform which allows small investors to participate in the secondary market for housing loans, using Ethereum smart contracts to buy, sell, and collect interest on various housing loans. Users of TokenLend can buy participation in housing loans added to the platform by accredited parties by sending TLN to the loan owner. Payments made to the loan owner are then distributed to participating investors until the loan is paid in full.
Up to 7 percent of TLN tokens have been earmarked for the pre-sale. TokenLend hopes to raise a maximum of 3,500 ETH in the pre-sale, with a rate of exchange at 1 ETH buying 2,500 TLN.
The initial coin offering (ICO) will start on March 26 and will run for 45 days. In total, 75 percent of all TLN tokens will be offered during the ICO. The TokenLend team aim to raise a minimum of 800 ETH and have set a hard cap of 41,000 ETH.
ICORating has assigned the TokenLend ICO a Low Hype score and a Medium Risk score and will officially rate the ICO in the nearest future.
Investors looking to acquire TLN in the pre-sale are encouraged to visit the TokenLend website at tokenlend.io for more information.