POA Q&A

Q: How will members be able to use SALT after the POA program is implemented? *

A: SALT membership units may be redeemed for annual membership, higher borrowing limits, and any of the products or services currently offered by SALT.

SALT membership units can be used to make monthly payments of principal and interest (P&I) on active loans, valued at the current retail price.**

SALT membership units can be held as POA (either on the SALT platform or in a synchronized wallet) to gain access to improved loan terms and product costs, exclusive features and products, and enhanced service and benefits.**

Q: How do I prepare to participate in SALT’s POA program?

A: In order to participate, members will simply need to hold SALT membership units in their account on our platform, or in a synchronized wallet.

Q: Will I have to purchase SALT membership units directly from the platform in order to participate in POA?

A: No. A member’s POA can be attained by holding SALT membership units on the platform or synchronized wallet, regardless of where they were purchased.

Q: What happens to my SALT membership units in the event of a margin call?

A: In the event of a liquidation because of a margin call, your staked SALT membership units may be converted in conjunction with your other blockchain collateral depending on the terms or your loan agreement.

You can deposit or purchase SALT membership units to fulfill the staking amounts needed.

Failure to deposit the requisite amount of staked SALT membership units may prevent or delay your loan from being originated, pursuant to the terms of your loan agreement. Staked SALT membership units may impact the total cost of borrowing from SALT Lending. Please see your loan agreement for more information.

Q: When can a member get their SALT membership units back if they are used for POA?

A: SALT membership units staked for a loan are not automatically redeemed; they are kept in your SALT wallet while your loan is active and may be liquidated pursuant to the terms of your loan agreement. At loan maturity, if SALT membership units remain in your SALT wallet, those membership units may be withdrawn, redeemed, or simply left for storage in your SALT wallet.

Q: What will happen if I’ve already redeemed SALT membership units to upgrade my membership to the Premier or Enterprise membership tiers?

A: Any member that has already redeemed SALT membership units for their membership may be issued a refund and can elect to experience the benefits of the POA program. Refunds may be subject to restrictions and requirements at the sole discretion of Salt Lending.

Q: How much will a member be able to improve their experience (interest rates, loan-to-value ratios, terms, product costs, referral bonuses, etc.) through POA?

A: The degree to which a member can alter the terms of their loan is subject to suitability, availability, and/or other restrictions at the sole discretion of Salt lending and may be determined on a case-by-case basis.