Many people know that credit is a long process for which you need to deal with different documents and intermediaries. Fintrux ICO is a new revolutionary platform, which is going to make offering loans for small businesses and start-ups real and easy.
The goal of the project is to unite borrowers, creditors, and agents in one place increase the efficiency of their work and give the possibility to make contracts in real time. Compared to modern methods of crediting, advantages of the platform are fairness and honesty in decision-making, high speed and efficiency of payments, reducing the risk of non-payment credit, convenience, and automation of the service.
You can find project’s team on the site. Its CEO Nelson Lin has an impressive 30-year experience with applications of the financial systems for well-known companies. The team believes that modern credit conditions are not very profitable. Rigid requirements, lack of guarantee and extremely uncomfortable conditions are the barriers in front of the development of small businesses and start-ups in general. To solve these problems, Fintrux ICO launches an ecosystem that will make loans easy, honest and transparent for both parties. The service will work on the basis of the ERC20 smart contract, which means that you can store your tokens on the Ethereum wallet.
To attract investors, there is a well-done site where all development plans are described. Detailed Whitepaper has many drawings, charts, and graphs to facilitate the perception of information. To improve the quality of loans and reduce a general risk, Fintrux is going to involve several levels. First of all, this is loss coverage with a unique smart contract for each individual case. Next step, an involvement of third-party guarantors that will protect creditors from excessive financial losses. And also, to guarantee coverage of losses there are 5% of all tokens are reserved.
The platform also creates its own FTX token in the amount of 100 million. 75% will be sold on the ICO. Open selling will begin on February 7, with a maximum sum of $25 million. Although even on the presale it was possible to get investments of almost $12 million, which shows that the project is very interested in the crypto community. The remaining 25% of the tokens will be shared between the team led by Nelson Lin. 10% will be blocked for a year, another 10% will become the reserve of the company itself, and the remaining 5% will become a reserve for loans and will be spent on credit insurance.
The main purpose of FTX cryptocurrency is the payment for the execution of transactions, a bonus or for the correct actions, and a reserve for improving lending. Also, the token will be used to work with the platform and the API license. The currency will ensure the stable functioning of the Fintrux network. But there is a rule, if you won’t use tokens for a year, you will be forced to return them to the network for redistribution.
ROADMAP:
Fintrux is a very interesting project that deals with real problems in the sphere of lending. The team believes that based on their great experience, with the help of the blocking technology, they can bring the entire process to a new level. The demo version of the platform is ready and available for every registered user. The project is very promising and ambitious, it is worth it to be interested in investing in it.
Project Links:
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Authored by: Malabarka