• HB Wallet Team

How to access Constant in HB Wallet

Understand peer-to-peer (P2P) lending and how to access DeFi lending protocol Constant via HB Wallet.

What is "Oasis" in DeFi? Introducing Oasis Trade, Borrow, and Save

What is DeFi? Why is everyone talking about it?

Crypto Trends 2020

Download HB Wallet: iOS | Android | Mac | Windows

The concept of decentralized finance (DeFi) has gained credence among the Ethereum community over the last year. Fueled by the upswing of MakerDAO and its stablecoin DAI, DeFi is at its speed on becoming an instrumental development of modern finance.

Blockchain startups are leading the push towards a more open financial architecture, where access to peer-to-peer (P2P) borrowing/lending instruments, fixed income products, derivatives markets, and more are becoming seemingly every day.

This article strives to guide you through the innovative architecture of P2P lending, and how to access DeFi lending protocol Constant via HB Wallet.

What is peer-to-peer (P2P) lending?

Peer-to-peer lending is an easy way to connect with cash-flush individuals without the need for intermediaries, picture-perfect credit, or reams of paperwork slowing down the process.

In other words, the protocol enables individuals to secure loans directly from other individuals, cutting out the financial institution as middlemen.

Peer-to-peer lending is done through designated P2P platforms. These services match borrowers with vetted, private investors. Even though P2P loans are technically personal loans, there’s usually no direct contact between the lender and the borrower. The loan is approved and serviced through the platform and both the investor and the platform claim part of the loan’s earned interest.

Instead of investing in one loan, P2P platforms allow lenders to spread their holdings across multiple loans in the form of “notes”. You can choose the amount, interest rate, and term of your investment — and we’ll match you with someone willing to borrow on your terms. This gives you total control over your lending.

For everyone, they make borrowing easier, especially when you’re too familiar with the burdensome process of the traditional mortgage industry. In the world of DeFi, there’s no bank (or associated federal regulations) involved. Forget about the paperwork either. The transparency and accessibility of DeFi help to mitigate the costs and risks commonly associated with traditional alternatives like returns with equities and bonds where intermediary fees run high, and equate low-risk equity returns tarry behind typical P2P lending returns.

For lenders, P2P lending is a way to earn interest on their financial assets at a rate that is better than those offered by conventional savings accounts or certificates of deposit (CD).

What is Constant?

Constant is the first fully secured P2P lending platform. All investor funds are fully backed by collateral. Borrower collateral is stored safely in a smart contract or insured BitGo escrow, which means no one can touch it – not even the Constant team.

Why Constant?

“Sending, storing, and managing money should be as easy as sending a text message.”

- Constant

Indeed, Constant is designed to remove the inefficiencies of the traditional banking system and enable people to take full advantage of their assets. Anyone, from any part of the world, can participate and manage their money at any time of day, with little to no cost. All you need is a device with an internet connection, bank account, and some cryptocurrency as collateral.

Unlike other platforms, Constant allows users to set their own interest rates and terms. Ethereum powered smart contracts automate the loan agreement and always run exactly as programmed – ensuring both investors and borrowers are protected.

All other collateral is held in a BitGo cold wallet that’s insured to $100M. So no matter what happens to the Constant platform, borrower collateral is secure.

No credit checks, no paperwork is required. Should the borrower fail to repay, Constant will sell the crypto to repay the investor’s principal and earned interest. Meanwhile, the borrower keeps the loan, with zero impact on their credit history.

It is this unique blend of smart contracts, algorithmic automation, secure escrows, and crypto collateral that gives our customers the freedom to choose their own terms without risking their assets — or their creditworthiness — along the way.

Most specifically, Constant is the only P2P lending platform in DeFi that enables such a cherrypicking of rates.

How does Constant work?

The Constant platform matches borrowers and investors according to their own rates and terms. Borrower collateral is securely escrowed and is automatically returned when the borrower repays. Constant enables borrowers to stake liquid capital via over-collateralized crypto assets (e.g., Ether). Thereafter, borrowers can cherrypick the best deals automatically listed on Constant’s interface, selecting the best interest rates that are posted independently by each lending peer.

On the other hand, lenders can choose to set custom interest rates and terms, from which borrowers can then decide. To protect lenders, Constant strictly requires every loan to be 150% backed by collateral.

So if borrowers default, you don’t lose a cent. Constant sells the collateral to repay the lender. The same applies if their collateral falls in value too much.

How to use Constant in HB Wallet

For IOS/ Android users


After deciding how much to borrow, make sure that your wallet is loaded with your crypto asset that can be used as collateral. You’ll need to put up 150% of the loan amount in crypto, which gives you a very generous loan-to-value (LTV) ratio of 66%.

1. At HB Wallet homescreen, swipe up to show up a list of suggestions. Select the "Constant" card.

Swipe up and Select the "Constant" card

2. Tap “Borrow” to proceed.

Tap “Borrow” to proceed.

3. Set up your own borrowing terms: how much you want to borrow and for how long, the interest rate you want to pay, and your type of collateral.

Set up your own borrowing terms

4. Sign up or Log in via your Facebook or Google account to continue.

Sign up or Log in via your Facebook or Google

The Constant algorithm will automatically match you with investors that can lend you the money you need at the rates you want.

Once you’ve found a match, you’ll receive the loan in your account. ETH collateral is securely escrowed in a smart contract, while all other collateral is escrowed in a BitGo cold wallet insured to $100M. Collateral will be automatically returned when you repay.


Your investments are fully backed by borrower collateral. Unmatched portions earn an automatic 5% APY, and can be withdrawn anytime.

1. At HB Wallet homescreen, swipe up to show up a list of suggestions. Select the "Constant" card.

Swipe up and Select the "Constant" card

2. Tap “Invest” to proceed.

Tap “Invest” to proceed.

3. Set up your own lending terms: how much you want to lend and for how long, the annual percentage rate (APR) you are willing to accept for your loan. If there is a borrower willing to pay more, you will earn the higher interest rate.

Set up your own lending terms

4. Sign up or Log in via your Facebook or Google account to continue.

Sign up or Log in via Facebook or Google

The Constant algorithm will automatically match you with borrowers that meet your requirements. While you wait, your funds remain in the custody of Prime Trust, where they are insured up to $130M and can be withdrawn at any time. If you set your interest rate at the current market rate of 9%, you will be matched instantly. If you choose a lower interest rate, it might take a little longer to find you a suitable match.

Once a borrower is found, the loan will be available in your account within 24 hours (slightly longer for larger amounts). You’ll start earning interest on the matched amount, to be withdrawn at the end of your term.

For HB Wallet desktop users

1. Open HB Wallet 'Browser'.

Open HB Wallet 'Browser'

2. Tap "Constant" to proceed.

Tap "Constant" to proceed.

Download HB Wallet: iOS | Android | Mac | Windows


As being discussed at Crypto Trends 2020, one of the trends to look forward to in the DeFi ecosystem is the accumulation of various product offerings by platforms like Constant.

Constant recently added staking returns for NEO holders to its services, accepting NEO token as collateral for competitive loans. By borrowing with Constant, borrowers can get the value of their NEO tokens in USD or stablecoins without divesting.

Platforms like Constant portrays a promising future for people seeking financial services outside of legacy banking and credit structures. With only an Internet connection and collateral necessary, users can tap into deep liquidity and creative financial instruments of such protocols through HB Wallet.

The transparent flexibility of interfaces like Constant is representative of the movement’s potential. DeFi is not going away anytime soon, and Constant is a testament to the blossoming maturity of crypto-based finance.

NEXT: What is "Oasis" in DeFi? Introducing Oasis Trade, Borrow, and Save

Download HB Wallet: iOS | Android | Mac | Windows

#Constant #HBWallet #DeFi #p2plending #finance #cryptocurrency #decentralized #Ethereum #smartcontract #blockchain

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