Quick review of Eigencoin the crypto lending platform - Bitconnect clone

Eigencoin has an ICO which is starting on December 5th. Eigencoin are promising some new features in crypto lending, such as the ability to end a loan early for a 7% fee. However I see this feature as enabling mass exit in any panic situation when the price of Bitcoin crashes in the future.

All crypto lending platforms work by taking your Bitcoin when you buy in. They keep all the Bitcoin and enjoy the price rises. In return they pay you around 1% a day in $USD. Most people then re-invest so they platform hardly ever has to really pay out.

As more an more lending platforms come online, people will be looking at the daily interest rates. If they start to drop consistantly, people will withdraw instead of re-invest. And here begins the death of the lending platform.

Crypto lending programs are like traditional HYIP programs but instead they are designed to die a slow death instead of instantly disapearing off the internet.

One of my first thing to look at, is does the name sound cool. This does not. The name of Eigencoin is stupid for a start. What does it even mean?

Based on the stupid name and the removal of the feature that protects BitConnect from mass panic exists, I strongly do not recommend this program.

And finally in the Whitepaper they talk about sharing ad revenue from their website. Thats some serious proof of no idea. Avoid guys.