Episode 4

Timeline and Expectations:

• Target date: January 31, 2024, for Celsius loan refinancing

• Deadline for priority processing: Midnight Friday (Mountain time)

• Working with Celsius to batch and process loans for repayment

Loan Application Process:

• Deadline reminder for loan application by Friday

• Confirmation emails from Trevor or Dan for accepted loans

• Verify legitimacy if in doubt, contact support

Stablecoin and USDC Addresses:

• Placeholder addresses in loan agreements for USDC and stablecoin

• Addresses will be replaced with information provided by Celsius for repayment

Updates and Changes:

• Loan agreement terms and information updates are in progress

• Expect communication from the team for any changes in your loan agreements

Payment Options and Calculator:

• Three payment options: principal and interest, interest only, fully financed

• Updated calculator available for transparency and informed decisions

• Contact sales for the latest calculator link

California and Jurisdictions:

• Positive progress in servicing loans in California and other jurisdictions

• Expect communication if any issues arise

Withdrawal of Preference Exposure (WPE):

• Complex situation, ongoing discussions with the debtor

• Patience requested, priority to resolve WPE issues

Salt Lend Program for Accredited Investors:

• New program for accredited investors to earn yield on USDC/USDT

• Reach out to sales for more information or visit https://saltlending.com/lend/

Q&A Session:

• Addressed questions from participants, clarifying various concerns

• Encouraged participants to ask questions and engage in discussions

Loan Percentage and Recovery:

• Haircut percentage is 32%.

• Discussions on Twitter spaces and other platforms about potential better recovery, awaiting official confirmation.

Official Language on Percentages:

• Waiting for official language to confirm recovery percentages.

• No official confirmation on better recovery until the announcement.

Recommendations for Loan Refinancing:

• Question about recommending loan refinancing.

• No specific category of people recommended against refinancing.

• Considerations for minimum loan amounts, emotional factors, and belief in long-term market sustainability.

Refinancing Parameters and Exceptions:

• Minimum loan amount for refinancing with Salt is $1,000.

• Exceptions are rare for amounts below $1,000.

• Emotional decisions and desire to move on are factors for some customers.

Mathematical Perspective on Refinancing:

• Mathematically, having more Bitcoin is considered advantageous.

• Discussion on sustaining a loan for a year and its worth based on market expectations.

Tax Considerations for Refinancing:

• Consultation with a tax advisor for scenarios where purchase price vs. petition date price results in a loss.

• Tax implications and individual circumstances may influence the decision.

Deadline Reminder and Application Process:

• Urgent reminder for the deadline for loan applications.

• Encouragement to finalize applications as soon as possible for better processing.

• Addressing issues with missed Strato refinance deadlines and communication.

Appreciation and Call for Questions:

• Appreciation for community engagement.

• Call for questions and clarifications from the audience.

• Gratitude for the support and commitment of the community.

Conclusion:

• Expressing gratitude for the community's time and participation.

• Reiterating support for those going through Celsius refinance.