Since its launch on December 28th, the SALT platform has experienced an incredible response from our community of members. While we’ve made industry-leading progress in issuing over $23m in blockchain-backed loans, there is still a demand of over $1.3b in loan requests that we are diligently working to address. The process of scaling and automating our processes and technology has been progressing well but we’ve recognized an opportunity to focus our team’s time and resources on this important goal and on addressing the existing demand before we continue to add new memberships and loan requests.
Due to the enormous demand and loan requests we will be temporarily suspending new membership registrations, loan requests, and purchases of SALT on our platform. Existing members will still be able to deposit SALT on the platform and upgrade their membership in the interim. We plan to begin adding members and turn on all associated features as soon as we have satisfied the automation of our current loan process and have served the current pending loan requests.
The SALT team is incredibly grateful for the overwhelming support and engagement from our community of 64,000+ members, and it is out of respect and appreciation to our current supporters that we’ve made this decision. By temporarily halting these features we will be able to dedicate all of our time and energy on serving those that have been integral to our success thus far, as well as positioning our platform to address the future demand for SALT’s lending platform.
Thank you for your continued support and for being a member of our amazing community!
All the best,
The SALT Team