Recapitulation of Cobalt Lend AMA event held at AMA LOVERS CLUB

Date: Thursday, 3rd December, 2020
Time: 14:00 UTC

The Cobalt Lend team was represented by @cobaltlend1. He judiciously shared with us detailed knowledge and information about the project.


Q1 : Can you please introduce yourself and your background, also introduce the Team working on Cobalt Lend project

Ans : Yes I am Mitchell Wrapp head of Public Relations here @ Cobalt lend and I have one member of DEV Team 1 here (Marley) to help answer questions
Marley has a BA in computer science and 4 years programing experience with solidity and python with a strong background in web3 development along with C and Java
I however come from a trading education background with a BA in Business psychology and 12 years US military service along with a background in banking as a loan officer for Ford Motor Credit
How we came up with the idea for Cobalt lend: We watched a close friend of ours operating a small business out of his home, try and turn it into an actual brick and mortar establishment outside of his home– a “So Called Real Business”. After many pain staking weeks of intrusive questioning by the bank he was ultimately turned down for the small loan he was asking for. We decided then and there that NO one should have to waste so much of their time in hopes the Big corporations would allow them to participate in their system – So we decided to create a NEW system for the community that is fair and governed by democratic vote system also incentivizing the users by sharing in interest earned by the treasury for its financial practices within that community.

Q2 : Can you introduce the Cobalt Lend project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage

Ans : Sure! Plain and simple Cobalt Lend is a Lending protocol on the blockchain governed by community vote
Here is a little more detail:
Cobalt - A new way to borrow! The Cobalt lending platform aims to bring together borrowers into a fair democratic voting community in order to get all size loans from micro loans to six-figure loans all without the over sight of a bank, completely governed by the community and therefor the community directly profits from its’ involvement. The current credit system is fundamentally flawed and the Cobalt platform corrects this by facilitating a community voted and approved lending program on the blockchain that is completely based off the merits of the project, never seeing race, color, or individuals background. The only criteria considered for the loans will be merit of project and collateral provided by the borrower, then the community will be left to decide on funding the proposal or rejecting it. Borrowing capital faster at cheaper rates with less hassle.
Being able to lend excess capital to other borrowers within the ecosystem in times of surplus, in order to benefit from interest on the loan.
Access to Cobalt Lend proprietary software that enables crypto and credit card processing all together through a mobile Dapp – no extra costly hardware needed. Access to Cobalt Lend proprietary software that enables crypto and credit card processing all together through a mobile Dapp – no extra costly hardware needed.

Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap

Ans : Biggest achievement so far is allowing user to stake their CBLT Tokens and earn interest monthly. The great thing we are building now is our software suite that will allow the user to process credit cards inside their user dashboard without a third party merchant account

What we have accomplished so far
Voting within the ecosystem is Live & working bug free
Submitting proposals to the community for a vote is live & working bug free
Staking your CBLT Tokens for interest rewards is now LIVE!
Incentivizing community members to operate & maintain Liquidity Pools is now LIVE!
Expanded our independent contractor base by 20% in last 14 days
Expanded our community base by 138% in the past 30 days
Growing faster then we expected!
What we are focused on next
Rolling out an open Beta of our Software Suite that allows users to process credit cards and cryptocurrency transactions in their mobile dashboard
Launching the Cobalt Lend DEX to support the treasury with transaction fees
Continuing to build out the protocol needed for issuing loans from the treasury to community members
Dev Team 2 is still progressing in their efforts to build out the Cobalt Lend native blockchain
Push more funding and support to community members contributing to the Cobalt Lend protocol such as Liquidity Pool operators
Continue our efforts with to audit our smart contracts

Launched Last Night The Cobalt Lend Wallet


Q1 : What benefit will come for the holders if they hold $COBALTLEND instead of buying and selling immediately when it comes to profit for my own benefit? Will its price be greatly reduced during the time I hold it and be burned all that $COBALTLEND?

Ans :

Biggest Benefit To Holding CBLT

Q2 : Is cobalt lend a potential replacement to the traditional financial system or an alternative? In any case, what do you think of possible future regulations in the blockchain sector and how much do you think it can benefit or harm you?

Ans : Yes we want to REPLACE the current corrupt financial system that is run by dishonest banks and backed by crooked politicians
Finance should work as follows: People lend each other money, NOT one central authority (Banks) dictating who gets what? Everything in our protocol is community driven and voted - we take the community feedback very serious and also the community who benefits from the interest earned on the loans given out to the community by the treasury


Q1 : Why you host here AMA again?

Ans : We like building community - we will come for another AMA in the future for follow up - if you community will have us?

Q2 : I wonder how community will know the correct choice about if they should approve for lending or not?

Ans : All proposals to vote on will be available inside your user dashboard for 7 days. Its cost one CBLT token to vote and your vote entitles you to share in interest earned by the treasury from these loans

All details of the borrower’s proposal will be available to the voter for review - The community only shares in interest earned from successful loan repayment. It is in the voter’s best interest to actively participate in the ecosystem and research each project. It’s your community - you take control!

Q3 : Can the ecosystem’s "dividend payment" be changed by the community at any time? What are the areas where the community has a say in payments?

Ans : Yes can be changed at any time by community vote. The community has complete control over the direction of the protocol by democratic vote inside their user dashboard

Q4 : What do you think of the Cobalt Lend community where members only chat about proposals ? lol 😂😂

Ans : That would be GREAT! Someone should start that today!

Q5 : What other blockchain utilities are you working on?

Ans : Our next goals are to have our dex up and running buy the spring of 2021 to provide a revenue model for the treasury and community
Our software suite for processing credit cards along crypto currency transactions inside the user dashboard is almost ready for a open Beta test version and will be released to the public in Jan 2021

Coming Spring 2021 Cash Back Rewards instantly convert your crypto to fiat

Q6 : Token burn” is a common issue and it is benefit for any project, in being able to control the number of token circulation and to provide greater incentives to investors. Does your project have a plan about token burn??

Ans : The Community just voted:
Vote to burn treasury wallet address:

containing 35,416,000.00 CBLT
Approximately 3.54% of current supply
This will put deflationary pressure on the supply before the I.E.O.
Current Supply – 1 Billion
New Supply After Burn – 964,584,000

Q7 : How do we get actors to vote on projects that are active in the community or generate positive returns? And what projects are considered active and beneficial?

Ans : Everyone who is a registered user of Cobalt lend with at least 2 CBLT in their wallet can vote on any proposal and all information on said proposal will be available to the community to view inside the mobile dashboard so they can research the proposal and make their vote. If you don’t vote - you don’t share in the interest earned from the proposed project,

Q8 : Hacking is A major major problem in any kind of online platform. Can you tell us what Plan is Cobalt takes to prevent hacking From There Tokenomics?

Ans : Our team has a strong IT security background as well we are constantly furthering the education of our team members and onboarding professionals to help build out a specific department just for handling this particular issue - good question

Q9 : I am very impressed by the shape and elements of the Cobalt Lend logo. What is the meaning of this image, what does it symbolize and what is the story of its creation?

Ans : Meaning of the Logo - Tree of life representing community

Q10 : What is community meaning for CobaltLend project? Did you allow community to contribute in your platform?

Ans : There are several ways to contribute to the Cobalt Lend Project - most notably the Earn Drop Program which you can earn FREE CBLT Tokens for posting on social media

Q11 : Why did $CBLT choose IEO on the BeeEx exchange? will $CBLT be listed on the BeeEX exchange?

Ans : Yes it will be listed on their exchange and we choose BeeEx as the First stage of our IEO on an actual exchange platform as a test because they are small and would allow us the freedom to operate accordingly - the Second Stage of the IEO is coming soon to a much bigger and reputable exchange - everything in steps

Q12 : This kind of project really need to have its own DEX tied in with the user dashboard. Is launching your own DEX a priority? How soon does CobaltLend aim to launch its own DEX?

Ans :

DEX and Exchange Function are coming Wallet Launched Last Night! Come check it out!

Besides total world dominations - launching our DEX / Software suite for processing credit cards inside the user dashboard / and finally lending and borrowing between individuals facilitated by the Cobalt lend Treasury

Sign up for an account at

Q13 : Will there be internal 2FA factor?

Ans : On its way - probably next 72 hours at latest - DEV team one is working hard on that and a few other security measures for the site its self and the wallet

Q14 : What happens if the borrower doesn’t repays the loan in the? Is this possible and what happens after that?

Ans : Yes it is possible and called a "DEFAULT" this is why the loans are collagenized - collateral on the loan will be forfeited to the treasury

Q15 : I wonder when I invest in cobalt lend when can I have my vote privilege for lending to someone or denying it?

Ans : Immediately after sign up at - Sign Up Today and be part of a community that is changing the world!

Buy Cobalt Tokens Directly From Our Website - NO KYC OR AML


Final word for community ?🔥

Ans :

Thats really all we have this morning - please join the Token Sale - you can buy directly from our website with MetaMask NO KYC OR AML and get 50 percent of your original crypto investment returned to you within a year and you keep your CBLT Tokens

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