You have questions, SALT has answers
At SALT, we value our community and want to give you the most up-to-date information. As many of you know, SALT has recently made improvements to our platform, adjusted the pricing model, and outlined new member benefits with the Point of Access (POA) program. We want to ensure you have the information you need to take advantage of all that SALT has to offer; to do this, we want to share some answers to the most frequent questions we’ve seen across social channels over the past few weeks.
Question: What exactly is dynamic pricing? Is it just following the market price or is there any difference in the price on the SALT platform from the market?
Answer: Dynamic pricing is pricing that’s subject to change, just as market conditions and customer needs do. With this new pricing model, we’re leveraging an aggregation of market value tools to determine the valuation of the SALT membership unit, meaning the continued price of our membership units vary in real-time. More specifically, the value of a SALT Membership Unit relative to the US Dollar (USD) is an algorithmically calculated volume-weighted-average taken from multiple sources and adjusted for statistical outliers and inactivity. The SALT Membership Unit price is determined based on the aforementioned formula and is publicly displayed on the SALT Platform.
Question: Is SALT issuing loans currently since the platform transition? Has anyone taken the PoA option?
Answer: Yes. We’re not at liberty to discuss specific account details, but members have taken out loans since the platform transition and have taken the PoA option.
Question: What can be shared about which parts of the process are automated?
Answer: Automation is key to our business and our processes are becoming more automated each day. The short answer is that the actions on the dashboard — registration, ID verification, loan application, and LTV monitoring — are automated. While we’re continuing to work toward an even greater level of automation, we’re making sure that we have support available 24/7 to address questions or concerns from members.
