Celsius CEL White Paper
-the Celsius token (CEL) is a utility token that will be used to access the Celsius Network, a lending and borrowing platform.
-the Celsius token (CEL) will have utilities including the ability to become a member in the Celsius platform and community, the ability to deposit cryptocurrencies in the Celsius Wallet, and the ability to apply for Dollar loans with cryptocurrencies As collateral.
-in the future, the CEL token will have additional utilities including allowing members to lend cryptocurrencies in Order to gain interest, achieving seniority in the platform which will impact the interest rate gained, and getting interest Rewards on cryptocurrencies lended.
Explained – Celsius CEL White Paper. Learn in depth about differnet coins on the blockchain by understanding whitepapers.
There is a lot to learn about this futuristic tech, lets get started to dive into the Celsius CEL white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
We will deep dive into how the coin works by understanding the whitepaper and its summary. Celsius (CEL).
Lets understand Celsius (CEL) after going through the Celsius CEL white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Celsius CEL White Paper
Celsius CEL white paper will be going to provide you, all the information that is needed to get started with Celsius (CEL), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Celsius (CEL).
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In conjunction with the launch of the Celsius Crypto Wallet, were excited to introduce the Celsius Token (CEL). After our Token Generation Event, members will be able to use their CEL tokens to secure access to loans in dollars using their crypto as collateral. In the future, members who deposit coins in their Celsius Wallets will also be able to earn CEL Tokens as a reward for lending to the network.
Were designing CEL (ERC20 Token) to be the backbone of the Celsius Network, creating a value-driven lending and borrowing platform for all our members.
The Celsius Token (CEL), at the moment of the Token Generation Event (TGE), will have utilities including:
the ability to become a member in the Celsius platform and community
the ability to deposit your cryptocurrencies in the Celsius wallet
the ability to apply for dollar loans with cryptocurrencies as collateral
the ability to pay interest on these loans at a discount
In the future, the CEL token will have additional utilities including:
allowing members to lend cryptocurrencies in order to gain interest
achieving seniority in the platform which will impact the interest rate gained
get interest rewards on cryptocurrencies lended”
White Paper Link: Celsius (CEL) White Paper
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