YouHodler Lists Chainlink’s Token (LINK) For Crypto Backed Loans
Today, we are pleased to announce YouHodler has listed Chainlink’s token LINK to our FinTech platform. The listing comes after several requests from community members who can now enjoy LINK backed loans and “Turbo” LINK on both our desktop and mobile applications.
LINK joins a growing list of cryptocurrencies and stablecoins on the platform such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Stellar (XLM), Litecoin (LTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dash (DASH), EOS (EOS), Augur (REP), Basic Attention Token (BAT), Tether (USDT), USD Coin (USDC), TrueUSD (TUSD) and Paxos (PAX).
What is Chainlink token?
Chainlink is an organization providing secure, decentralized “blockchain middleware.” In addition, Chainlink allows more efficient access to multiple outputs and inputs needed by complex smart contracts. In simplifying how a smart contract safely obtains important off-chain resources, Chainlink accelerates the development of the increasingly valuable smart contracts.
Chainlink’s native token, LINK is Ethereum based and has received some positive reception over the past year. The project’s so-called “claim to fame” is its oracle system. To give an example, if someone bets on a real-world financial event with crypto (e.g. ETH), then an oracle can be used to verify the outcome of that bet in a far more secure and simple fashion.
Recently, Chainlink received international attention when Google made a statement issuing its support for the project. With this partnership, Chainlink can interact freely with Google’s data analyzer BigQuery, meaning developers can build dApps that not only harness Google but will improve smart contracts altogether.
Now you can keep LINK and use cash
With LINK added to the YouHodler platform, users can now get instant loans backed by LINK. With an industry-best LTV of 90%, users get the most value for their LINK collateral without having to sell it. Loans in USD, EUR, and BTC are available and can be directly withdrawn to a bank card, bank account or BTC wallet of the user’s choice.
With the value of LINK on the rise, and it’s potential showing little signs of slowing down, this is an excellent chance to keeping HODLing LINK while simultaneously using it’s rising value for personal needs or hedging and leveraging on the market.
Ilya Volkov, Founder, and CEO of YouHodler said “we’re extremely pleased to welcome Chainlink to the YouHodler family. Chainlink is leading the way of next-gen smart contract development and their innovation is vital to the healthy growth of this industry.”