Next altcoin to explode in 2023? Experts say it could be Collateral Network (COLT)

The year 2022 came to an end and as we begin 2023, investors are searching for good projects to put their money into. Experts have suggested Collateral Network (COLT) as the next crypto giant.

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What is Collateral Network (COLT)?

Collateral Network (COLT) is a new lending platform hosted on the Ethereum (ETH) blockchain. It is the first of its kind to use NFTs to facilitate loan transactions. Collateral Network (COLT) makes it easy for lenders and borrowers globally to unlock cash from their physical assets on the blockchain.

In other words, users will be able to provide fractional loans to borrowers for an agreed fixed interest rate. Also, borrowers will be able to use their physical assets to repay loans without needing to sell their assets or going through rigorous processes.

Collateral Network (COLT) is the first project to mint NFTs against physical assets and fractionalize them to aid community members to fund their loans. This innovation makes it a rising competition for popular lenders like AAVE and Compound.

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How Does Collateral Network (COLT) Work?

As mentioned, Collateral Network (COLT) uses NFTs to facilitate loan transactions.

An example of how the platform works would be: Anderson has a piece of art worth $100,000 and he needs cash but has difficulty selling the art. Then he goes to Collateral Network (COLT) for a quick loan. Next, Collateral Network (COLT) will mint an NFT backed by Anderson’s art and also make fractions of the NFT. Now, users can borrow smaller pieces of the art and pay back with interest, giving Anderson the money he needs.

Thankfully, the smart contract for running Collateral Network (COLT) on the Ethereum (ETH) blockchain has been audited. Therefore, users are rest assured of safe transactions. Not only that, there are plans to make the platform interoperable with other blockchains in the future.

Collateral Network (COLT) enables you to receive cash from your assets within 24hrs.

Collateral Network (COLT) also allows you to borrow against your assets without leaving a footprint on your credit file and all transaction records are stored on the public blockchain. Borrowers can borrow against their assets at competitive rates with flexible terms. Lenders receive a fixed weekly income. NFTs on Collateral Network (COLT) are backed by real world physical assets.

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Collateral Network (COLT) Uses And Tokenomics

Holders of the COLT token will enjoy discounts on transaction fees and interest rates. Also, they can stake their holdings to earn passive income. Additionally, they get to vote on key project developments.

The total supply of COLT is 1,400,000,000 (1.4bn) tokens and only 50% will be available for presale with an initial price of $0.01. Interestingly, presale buyers will have access to VIP membership, meaning they can participate in private auctions. Analysts are predicting that Collateral Network (COLT) will surge in price by 35x within the next 6 months. So, don’t miss this altcoin that will explode in 2023.

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk