Episode 6

Episode Summary

  • Introduction and Updates:

    • Technical difficulties acknowledged; welcome to SALT's Unsalted AMA for February 8th, 2024.

    • Crew includes Kelley, Justin, and Dan; updates on Celsius refinance timeline, 4 to 6 weeks expected.

    • New calculator available; Justin and Dan elaborate.

    • Jurisdiction update on California and other areas.

    • Open for questions and discussions.

  • Celsius Refinance Timeline:

    • Effective date: January 16, 2024, impacting conversion price for excess collateral claims.

    • Refinancing payoff date determined by crypto price on payoff date.

    • Refinancing behind custody and earned payouts.

    • Small Celsius team working on refi payouts; progress updates forthcoming.

  • Calculator Update:

    • New calculator aids in understanding crypto payouts and LTV for loans.

    • Reach out to [email protected] to get a copy of the updated calculator.

    • Our loan calculators are available to assist users in understanding loan terms and repayment options.

  • Borrower Concerns:

    • Borrowers express concerns about market exposure and timing.

    • Advocating for prioritizing borrower group due to market risks.

    • Urgency emphasized in addressing borrower concerns to limit market exposure.

    • Participants discussed the waiting period and inefficiencies in the loan refinancing process.

    • Questions arose about the sharing of information and the lack of clarity regarding email notifications related to refinancing.

  • Additional Insights:

    • Complications in process noted, including delays in forms and manual processes.

    • Consideration of lender's market risks highlighted.

    • Collaboration urged to find solutions to address concerns collectively.

  • Challenges with Celsius Platform Functionality:

    • Criticisms were voiced about the functionality of the platform, particularly regarding the lack of useful features and information provided.

    • Suggestions were made to improve platform functionality, including hiring external coders for enhancements.

  • Updates on Loan Distribution and Refinancing:

    • Information was shared regarding the order of distribution for loan repayments and the expected timelines for each step.

    • Clarifications were made regarding the process for California customers and the absence of collateral haircuts for them.

  • Encouragement for Communication and Queries:

    • Participants encouraged users to reach out with any questions or concerns to [email protected] or through other official channels.

    • Users were reminded to stay informed through email updates and to seek assistance as needed.

Overall, the podcast covered various topics related to loan processing, platform functionality, and updates on loan distribution and refinancing. Participants emphasized the importance of communication and provided guidance on navigating the loan process effectively.

For more information visit www.saltlending.com

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