1. Project Introduction:
Celsius (CEL) is an all-in-one banking and financial services platform for cryptocurrency users.
Users of the platform receive regular payouts and interest on their holdings. Celsius’ native token, CEL, performs a variety of internal functions, including boosting user payouts if used as the payment currency.
Celsius aims to outperform banks at their own game by offering financial services on the kind of terms which traditional financial institutions no longer offer.
These include much higher rates of returns on savings and deposits, much easier and fairer loan requirements and automated rewards computed for each user algorithmically. Penalties and bank-style fees are also waived.
The platform also functions as a wallet via its CelPay feature, and hosts its own CEL token which users can leverage to increase payout value among other things.
As a for-profit company, Celsius takes a cut of profit margins on interest payments, still returning 80% to users themselves. The company also lends to institutional entities such as hedge funds.
Payments are ensured because loans are asset-backed, and any borrower must supply more than 100% of what they borrow in the destination currency.
2. Project Information:
Project Name: Celsius (CEL)
Project Website: https://celsius.network/
Block explorer: https://etherscan.io/token/0xaaaebe6fe48e54f431b0c390cfaf0b017d09d42d
Reminder: This information is provided by the project team. Strictly for references only.