2017-05-15
ETHLend Alpha on Ethereum Main-net in May 2017 (Milestone achieved)

ETHLend delivers a fully functional prototype of the decentralized application deployed on the Ethereum blockchain network. The dapp is located at https://app.ethlend.io. The decentralized application has the basic functions for collateralized decentralized lending such as placing a loan request, sending ERC-20 compatible tokens to the Smart Contract as collateral, funding a loan request, repaying a loan and claiming tokens in case the borrower defaults. The entire user experience is provided with the use of MetaMask.

2017-06-15
ENS Domains as Collateral in June 2017 (Milestone achieved)

ENS domains lock vast amounts of ETH once the domain is paid from the auction. By using ENS domains as collateral, a similar amount of funds could be used during the period that the ETH is locked. ETHLend will provide an alternative to using ERC-20 compatible tokens as collateral with ENS domains. Such alternative is useful for domain holders to access an equal amount of funds that is locked by the ENS domain. In case the borrower defaults, the lender can claim the domain from the Smart Contract for further auctioning or holding.

2017-06-15
White Paper on Decentralized Lending (Milestone achieved)

The ETHLend team will propose a fully descriptive white paper on decentralized lending and the ETHLend DAPP. The White Paper will be based on the technical and experimental findings of the build ETHLend Alpha prototype DAPP. The White Paper will have a technical peer-review which will be published before the token sale. The White Paper will include a road-map which indicates the developments that ETHLend undertakes for a successful or partly successful token sale.

2017-07-20
Reputation-based Lending with CRE in July 2017 (Milestone achieved)

ETHLend will add lending based on reputation. Reputation based lending will provide the possibility to borrow without using a collateral. Reputation based lending is based on the previous lending history on ETHLend. Each time the borrower repays 1 ETH worth of credit, the borrower will receive 0.1 Credit Token (CRE). The borrower can borrow up to 0.1 ETH with 0.1 CRE (1:1 ratio). In case the borrower does not repay either a collateral based loan or a reputation based loan, the lender can burn the borrower’s CRE balance. Reputation based lending is a gateway to establish the decentralized credit rating in the future.

2017-08-15
Incorporation in Estonia (Milestone achieved)

ETHLend incorporates in Estonia to establish and perform a global scale token sale for the participants. Once the token sale is finished the HQ will be relocated to Zug, Switzerland. UPDATE – Incorporation in Estonia: Block Research OU – Registration Number: 14331108 – Tartu mnt 80, Kesklinna linnaosa, Tallinn, Harju maakond, 10112, Estonia.

2017-08-31
Token Sale Smart Contract

ETHLend will develop a token sale Smart Contract. The token sale Smart Contract will be deployed on the Ethereum network and the source code will be visible to everyone once available. The Smart Contract will be used for the token pre-sale and for the official token sale. The tokens are sent to the participants once ETH is received by the token sale Smart Contract. Moreover, a security audit is conducted before the pre-sale and a separate website will be opened for the token sale to enforce security.

2017-09-15
Security Audit for the Token Sale Smart Contract

A third party security audit will be performed on the token sale Smart Contract. Once the security audit has taken place, the results are displayed at GitHub for community review.

2017-09-25
LEND Token Pre-Sale

LEND token pre-sale starts. ETHLend will sell a small portion (6% of the total amount sold) of the LEND tokens with 20% bonus tokens for pre-sale participants. LEND tokens entitle a 25% discount on the ETHLend DAPP fees compared to paying with ETH. Additionally, ETHLend will use a flat 20% of the DAPP fees to buy LEND back from the market and redistribute them through the Airdrop program to increase user adoption and add more volume to the loan book.

2017-11-25
Official LEND Token Sale

1 000 000 000 LEND (subtracted by the amount sold during the pre-sale) is sold to future participants of the global lending market for a 3 week period.

2017-12-20
Relocating to Zug and Swiss Foundation or Swiss LLC

ETHLend will relocate to Zug, Switzerland. Zug is known as the crypto valley due to the sandbox regulation on blockhain technology. ETHLend shall use a Swiss Foundation or Swiss LLC depending on the current status quo of the regulation on distributed ledger technology.

2017-12-31
FIAT Based Loans and Instalments

ETHLend DAPP will have the option to select FIAT such as USD as a base currency for the ETH loan. Such an option is attractive for borrowers who are spending the value in FIAT economy or are repaying the loan with recent FIAT economy earned funds. Such loan is attractive for a lender that is uses FIAT frequently and wants to access the global lending market. USD based loans would mean that the borrower borrows USD 100 worth of ETH and returns USD 100 worth of ETH plus interest. Instalments are another implementation. Instalments provides flexibility for repayments and adds more security for the lenders.

2018-01-01
Buybacks and Burning for LEND starts

ETHLend will use part of the DAPP fees on ETHLend (read more on token sale page) for buying LEND back from the market and burning it. The idea is to remove inefficient LEND that is not used for the DAPP. Such strategy will increase the DAPP users percentage on LEND and and creates tendencies for price increases, which results lower fees on the DAPP when compared to ETH.

2018-01-31
LEND Trading on Exchanges

ETHLend will partner with different exchanges to provide LEND on exchanges.

2018-02-28
On-Demand and Crowd Lending (Loan Offers from Lenders)

On-demand lending provides the opportunity for the lenders to place loan offers on ETHLend by setting the loan and collateral terms. Other lenders can join the loan offer, hence creating a liquidity pool. Crowd Lending will also be added simply by letting other lenders to fund a single loan request by sending ETH to that loan smart contract.

2018-03-31
User Experience Upgrade

The User Experience will be improved on the DAPP by providing the possiblity to use the DAPP without MetaMask and on mobile phones as well. Moreover, the learning curve on the DAPP will be decreases by providing easier to use interface such as: dropdown menu for most popular tokens (when setting as a collateral), calculating collateral value and proposing the loan amount, calculating the interest rate (based on risk, supply and demand), reminders for repayments and easy access to review the borrower’s previous loans (and feedback) on ETHLend.

2018-03-31
Decentralized Credit Rating (DCR)

By the use of Credit Token (CRE) and the previous loans on ETHLend, we will create a decentralized credit rating that can be used in other decentralized applications as well. Decentralized credit rating will provide a portfolio on each borrower with the details of previous loans, lenders, collateral and feedback. Credit Token (CRE) will be developed in such way that it will represent the credit score based on the above mentioned factors.

2018-04-30
Penalties for Late Payment

In case the borrower pays late an installment or a loan, measures are added to motivate repayment. These measure might be additional costs of ETH and burning a certain amount of the borrower’s Credit Tokens (CRE). Such measures could be added as a default or as an option for the lenders.

2018-04-30
Lending Bitcoin

Adding Bitcoin to the DAPP for lending.

2018-05-31
LEND Accepted as Payment with 25% Discount

LEND token shall be accepted as a payment method for fees on ETHLend. LEND will provide a 25% discount compared to ETH payments. The use of LEND as a payment method is sound since ETHLend burns 5% + 1-5% of the collected DAPP fees on ETHLend, which should create market price increase tendencies on LEND. When LEND value increases the DAPP fees becomes lower since the fees are calculated based on ETH.

2018-05-31
Gateway for Decentralized Providers (uPort, Civic) to DCR

ETHLend will provide a gateway for the decentralized credit rating for third party services such as uPort or Civic. Decentralized credit rating will show data through third party services. These services could be used when the borrower does not have sufficient amount of previous loans. Moreover, Civic could be used for pulling KYC and Credit Data to the users decentralized credit rating profile.*

* This milestone development requires full token sale cap achieved due to the resources required.

2018-05-31
Oracles: Centralized Feeds to DCR

ETHLend will add Oracles that could provide centralized data feeds such as credit ratings, guarantees or social media profile data from the web. For example, a shop owner in India could rate customers or an Oracle could provide credit report on all UK borrowers. Such approach could be used to provide faster on-boarding for reputation based lending without the need to start with collateral based lending on ETHLend.*

* This milestone development requires full token sale cap achieved due to the resources required.

2018-07-31
Second User Experience Upgrade

ETHLend will review the user experience on the DAPP based on community feedback and implements such changes to lower the learning curve on ETHLend.

2018-08-15
Protocol to Enable AI and Big Data to Assess Credit Risk

ETHLend will provide a protocol for developers to create bots that use Artificial Intelligence and the Ethereum blockchain ledger data combined with the ETHLend’s decentralized credit rating data to asses Credit Risk. ETHLend will set certain performance criteria and thresholds that the bot must achieve on test runs before being available for the lenders. Bots that do not perform beyond the thresholds are killed. This is an incentive for the developers to compete with performance.*

* This milestone development requires full token sale cap achieved due to the resources required.

2018-09-15
Revenue Scheme for AI Credit Risk Bot Creators

ETHLend will add a revenue sharing scheme for the lenders and the Credit Risk Assessment Bot Developers. The aim is to provide the lender a tool for assessing credit risk in the decentralized environment. Such revenue share motivates AI bot developers to create bots with good performance. Accurate bots will have more demand. Bots that are slipping in accuracy are killed.*

* This milestone development requires full token sale cap achieved due to the resources required.

2018-10-15
Opening Suggestions Venue for Public

ETHLend opens a venue for suggestion on how the decentralized application should be developed. The aim is to create a democracy for the ETHLend users to affect how they want the DAPP to be build.

2018-10-31
Prediction Market to Assess Credit Risk

ETHLend will either create a prediction market on ETHLend or partner with third party prediction market provider (such as Augur or Gnosis) for providing a prediction market on loan repayments. Participants in prediction market shall have data available on previous loans and also easy summary on the transactions on the Ethereum address. Prediction market hosted by ETHLend could also become an additional revenue stream for ETHLend.*

* This milestone development requires full token sale cap achieved due to the resources required.

2018-11-30
Lending Other Altcoins

ETHLend will add other altcoins as well for lending.*

* This milestone development requires full token sale cap achieved due to the resources required.

2018-11-30
Creating and Testing Democracy DAO

ETHLend starts to create and test democracy DAO for voting on the suggestions for the DAPP.

2019-01-01
Voting on Suggestions Deployed

Voting on democracy DAO will be deployed. From this point anyone can recommend suggestion for the DAPP and these are voted with the use of DAO.

2019-03-31
Protocol to Enable Insurance Policies (with AI bots)

ETHLend will add a protocol to enable Insurance policies (guarantees) on ETHLend. This means that third parties can guarantee loans for a premium to secure defaults. AI bots can be used to calculate risk and offering an insurance policy. Moreover, third parties can fund these AI bots to gain revenue from the guarantee premium. Different bots accept different risk level, which third parties can choose from.

2019-05-15
Sophisticated Collateral Control (Calling & Liquidating the Collateral)

ETHLend will add mechanisms to call and liquidate the collateral, in case the collateral value drops to a certain threshold. Moreover, the borrower will have the option to provide more collateral to avoid the liquidation. The value of the collateral could be fetched from decentralized exchanges. Moreover, on long term loans, prediction market could be used for assessing the collateral value (i.e. if property, art or unlisted shares are represented by the ERC-20 token that is used as a collateral) on tokens that are not liquid enough for constant exchange (i.e. auction required).

2019-12-09
LEND Vesting for the Development Fund Ends

24-month vesting period for tokens that are distributed for developers and founders shall end. By this point a fully functional and marketed product is delivered.