Loan Proposals & C.I.P.s Cobalt Improvement Proposals
Foundation Submits Proposal To Community
The Cobalt lend Foundation receives and vets the proposal for community vote ensuring all documents are correct and accurate meeting "Community Standards" set forth by The Cobalt Lend Foundation & Community. If the proposal meets all prerequisites, then it is put up for community vote through the user portal dashboard and the Foundation supplies the borrower with a smart contract address for any needed collateral to be locked in until loan is fulfilled or proposal is denied by community vote. If the proposal is NOT for a loan, the foundation automatically pushes it to the mobile dashboard for a community vote.
Voting on the blockchain should be simple
The Community Decides
The proposal is now available for voting by the community inside the user dashboard for (5) days. The community has the option to fund or deny the proposal. The cost to vote on a proposal is (1) Cobalt (CBLT or nCBLT) Token - this to is determined by community vote. All community member's who vote on proposals will be entitled to interest earned from positive performance / interest earned from the proposal voted on. This mechanism ensures that both parties (yes & no) vote equally to protect the treasury.
Changing Finances Forever
Assuming the borrower repays the loan, the interest is ultimately divided between the treasury and the original wallet addresses that voted on the proposal, thus sustaining the model and encouraging future participation in the ecosystem.