[Partnership Proposal] OOKI-Backed Loan service on MyConstant for crypto owners

Hello OOKI community! :wave:

My name is Loudee and I work for MyConstant as the Senior Business Development. We would like to introduce MyConstant with OOKI community and OOKI core team. You might know that we list OOKI in our market and bring huge value to OOKI owners.

  • In early 2019 , MyConstant released our first lending version.
  • During 2020 , we launched a mobile app, integrated over 30 different crypto coins, and matched the first $60M.
  • In 2021 , we launched our debit card, crypto swap, added more crypto coins, issued MCT token, reached 150,000 users, and matched $150M.
  • See our roadmap with exciting features we are launching in 2022 .

Product Description

Crypto-backed Loans is a multi-collateral credit line for cryptocurrency holders. Instead of selling your cryptocurrencies to get the cash you need, you can borrow against them without losing the potential uplift in value.

You might want to finance new crypto trades, borrow cash for emergencies like car repairs, or simply pay for vacations or other luxuries. Whatever the reason for the loan, Crypto-backed Loans is a fast, easy way to unlock the value of your crypto without selling up.

We don’t do credit checks or paperwork (except the required Know Your Customer process) and funds arrive in minutes. Our multi-collateral model means you can leverage the value of your entire portfolio and repay using any of our supported cryptocurrencies.

You can even withdraw your loan in another cryptocurrency, with the best rates sourced from multiple markets. Trusted third parties convert your loan into cryptocurrency for free, and unlike exchanges, there are no trading fees.

Approximately 30% of collateral is stored on partner exchanges for fast liquidation in the event of a default. The remaining 70% is stored in a password-protected web wallet hosted on a dedicated server (to which only senior staff members have access) until you repay. After which, it’s returned to your crypto balance and you can withdraw to a wallet of choice.

Key Benefits of MyConstant marketplace for OOKI

  • Borrow any amount with your OOKI (min $50, no maximum).
  • Use OOKI to payback loans.
  • Loans received instantly.
  • Interest from just 6% APR.
  • Flexible terms of 1-6 months.
  • Borrow against OOKI and other 70+ cryptocurrencies.
  • Collateral securely stored until you repay.
  • Choose to receive your loan in OOKI at the best prices.
  • Free USD withdrawals for US citizen.
  • Repay in fiat or supported cryptocurrencies.
  • Multi-collateral credit line for easier repayment and top-ups.
  • Auto top-up to avoid liquidation.

We hope to be in Partnership ecosystem with OOKI and OOKI community along with co-marketing activities together in the upcoming events.

Love to receive your questions. I would be happy to answer them. MyConstant is looking forward to working with OOKI and the OOKI community. :star_struck:

Our Past Collaborators:

image

1 Like

This is great :+1: this will give ooki more use case :clap:

1 Like

Hey Loudee,

First of all thanks for the effort to put up a proposal on the forum.

I think everything you described about your product is very clear, but honestly i don’t see the usecase for the OOKI protocol in it. Ofcourse it is great you want to add OOKI as a new asset on your product, but that isn’t directly a usecase for the OOKI protocol itself. At last, personally i dont think we get more active traders on the platform with this proposal.

The OOKI protocol is a margin, lending and borrowing protocol. it has some similarities what your product offer and in the future you can also borrow crypto against the OOKI token i believe. (without having a KYC)

So in short: what is the benefit for the ooki protocol in this proposal? Why has this proposal bring ooki to an higher level?
I’m not convinced yet…

happy day :slight_smile:

2 Likes

Hi mate @CryptoSteve I absolutely comprehend your points.
The use case here is pretty simple and direct in my view. MyConstant connects high quality cryptocurrencies like OOKI to get listed and accepted as collateral through its objective. Borrowing against OOKI, the community now has another prominent location to Swap and Borrow. Owners of crypto assets, in general, and OOKI in particular, we encourage everyone not to sell their favorite cryptos.

I’m not sure I’ll be able to take OOKI to the next level with the Partnership. However, the intangible benefits here are that the OOKI ecosystem in the crypto world is developing, and holders can buy more. As a result, OOKI owners are hoarding an unusually high number of OOKI. With over 150,000 consumers, OOKI now has another liquidity platform.

Love to hear more from you! :handshake:

Thanks for the quick respons!

I definitely agree that it is no harm to add OOKI on your platform! If that is the case you can freely add OOKI on your platform and discuss a co-marketing with @Paris_Ooki.

All in all you god my bless on that part!

Amazing @CryptoSteve, May we connect over telegram for better kick-start @Paris_Ooki :sunglasses:

Thanks @Loudee for the proposal. As my fellow members said, it would not harm to add OOKI to your platform (and may be beneficial), but what i want to know is if there is a cost for us to incur or what would you need from us in order to list our token.

gm @leponlep, It’s love to have your response.

I saw how beneficial our previous collaboration was. So I believe that by increasing capital through the tool OOKI-Backed Loan that can help people to hodl OOKI more than usual. And the only cost is the time spent during the setup phase (no cost actually).

Some activities I’m thinking of

  1. An AMA between OOKI <> MCT to be hosted on your social,
  2. An blog post together,
  3. Partnership announcement on twitter like "MyConstant list OOKI, now you can increase capital without selling your OOKI, instant SWAP OOKI on MyConstant.
  4. We do have Free Trial and MCT Token that use to discount for OOKI transactions on MyConstant in future case.

Love to hear your thoughts on this.

Ok good to have more info onnyour proposal but I was asking another thing. What i meant was, is there a cost for us (a payment that Ooki DAO must do to MCT)? Such as listing fee in MyConstant or any other one

Absolutely no fee. Our goal is to connect and gain partnership with high quality project not any cost. @leponlep

Great. You should talk to @Paris_Ooki in tg