What does this mean for SALT Lending?
Salt has cooperated with the SEC and has been working toward a settlement for many months. Now that we have reached a settlement with the SEC, we plans to expand our product offerings to include products focused on asset management and the preservation of wealth.
We recently released a new stabilization product that enables users to preserve the value of their portfolio in the event of a market downturn and are looking forward to offering additional products design to help our customers build and preserve their wealth.
What does this mean for holders of the SALT Token?
For those of you who hold SALT and wish to use it on our platform, you can still use SALT to lower your interest rate or use as collateral for your crypto-backed loan, as well as use it to pay fees and interest.
Anyone who bought SALT from us directly before and including 12/31/2019 will have an opportunity to submit a written claim to recover the consideration paid plus interest. Any income already received on the token will be deducted from the refund amount. If the purchaser no longer owns the SALT Token, then they can apply to recover damages. We’re in the early stages of registering the token with the SEC. Once that process is complete we will provide a claim form for direct purchasers to complete. We expect that form to be available in the early part of 2021.