Fraudulent if Practice if not Intent
Extraordinarily poor and janky user interface, no customer service to speak of, funds inaccessible for reasons never made clear. Should be investigated by the SEC and/or Consumer Protection.
Description
Lend. Borrow. Stake.
The Blender Platform is a blockchain powered open-end credit platform in which authenticated users can create their own loans (and set their preferred interest rates, and provide minimum contribution requirements of individual potential lenders) using smart contracts on the xDAI Blockchain. Potential lenders may browse through available smart contracts on the platform, assess borrower credibility with quantitative statistics detailing payment frequencies, current debt, current equity etc. Using the provided data, lenders choose which borrowers' smart contracts to lend money.
Borrowers receive funds from lenders in smart contracts. At the receipt of funds, the borrower does not have access to the funds until he/she creates a withdrawal request, detailing the amount requested from the liquid value inside the smart contract, given by the lenders. Lenders view pending withdrawal requests and vote democratically to release the funds into the custody of the borrower, the creator and manager of the smart contract.
At the point of final withdrawal of funds from the smart contract into the borrower's virtual wallet, the withdrawn funds are officially 'borrowed' and begin to accrue the interest at the rate designated by the borrower at the smart contract's creation. The borrower is now to repay these funds, and a lack of doing so results in poor statistics on the platform, depleted credibility, and negative reviews from your lenders. In addition, lenders may reclaim the remaining liquid portions of their contributions which have not yet been withdrawn, at will.
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The Blender Platform is a blockchain powered open-end credit platform in which authenticated users can create their own loans (and set their preferred interest rates, and provide minimum contribution requirements of individual potential lenders) using smart contracts on the xDAI Blockchain. Potential lenders may browse through available smart contracts on the platform, assess borrower credibility with quantitative statistics detailing payment frequencies, current debt, current equity etc. Using the provided data, lenders choose which borrowers' smart contracts to lend money.
Borrowers receive funds from lenders in smart contracts. At the receipt of funds, the borrower does not have access to the funds until he/she creates a withdrawal request, detailing the amount requested from the liquid value inside the smart contract, given by the lenders. Lenders view pending withdrawal requests and vote democratically to release the funds into the custody of the borrower, the creator and manager of the smart contract.
At the point of final withdrawal of funds from the smart contract into the borrower's virtual wallet, the withdrawn funds are officially 'borrowed' and begin to accrue the interest at the rate designated by the borrower at the smart contract's creation. The borrower is now to repay these funds, and a lack of doing so results in poor statistics on the platform, depleted credibility, and negative reviews from your lenders. In addition, lenders may reclaim the remaining liquid portions of their contributions which have not yet been withdrawn, at will.
Screenshots
The Blender Platform FAQ
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Is The Blender Platform free?
Yes, The Blender Platform is completely free and it doesn't have any in-app purchases or subscriptions.
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Is The Blender Platform legit?
Not enough reviews to make a reliable assessment. The app needs more user feedback.
Thanks for the vote -
How much does The Blender Platform cost?
The Blender Platform is free.
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What is The Blender Platform revenue?
To get estimated revenue of The Blender Platform app and other AppStore insights you can sign up to AppTail Mobile Analytics Platform.
User Rating
App is not rated in South Africa yet.
Ratings History
The Blender Platform Reviews
Cannot withdraw
I’m trying to withdraw my $42 and it keeps saying error check payment accuracy
No way of getting collateral back
I placed around $300 of collateral but my loan request is no where to be found unless you search for me by name so I wanted to withdraw my collateral but I can’t, please assist
App doesn’t work
After downloading the app, the app frozen and never finished “building my platform”. I left the app open for more than 10 minutes and then nothing happened. Now when I log in, it’s stuck on the “authenticating” screen and I never can access the app. Disappointing.
Different, but in a good way
At first it’s an odd app, you can create a line of credit in a matter of seconds and lend to other people, so it’s a bit different. But once I invited friends to the app, i understood it’s purpose. It’s pretty useful, because I lend money all the time to fam and friends but now I can keep track of it and earn interest from them if they skip out on repaying me.
Store Rankings
Ranking History
App Ranking History not available yet
Category Rankings
App is not ranked yet
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The Blender Platform Installs
Last 30 days
The Blender Platform Revenue
Last 30 daysThe Blender Platform Revenue and Downloads
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App Info
- Category
- Finance
- Publisher
- Lender Block LC
- Languages
- English
- Recent release
- 2.29 (1 month ago )
- Released on
- Mar 4, 2020 (4 years ago )
- Also available in
- United States , Philippines , India , Italy , Japan , Kuwait , Mexico , Malaysia , Nigeria , Netherlands , Norway , New Zealand , Peru , Israel , Poland , Portugal , Romania , Russia , Saudi Arabia , Sweden , Thailand , Türkiye , South Africa , Dominican Republic , Argentina , Australia , Belgium , Brazil , Canada , Switzerland , Chile , Colombia , Germany , Denmark , United Arab Emirates , Ecuador , Egypt , Spain , Finland , United Kingdom , Greece , Hungary , Ireland , Czechia , France , Hong Kong SAR China
- Last Updated
- 1 month ago
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