FintruX is a blockchain project that provides peer-to-peer (P2P) networks for market lending. Their platform connects borrowers, lenders, and service agents, enabling them to make every contract of the borrower in real-time. This provides an unrealistic level of efficiency with the current lending market. Better efficiency is just one of the many benefits that this platform provides.
Benefits of using FintruX
Anyone who has ever taken a loan in a traditional way knows that it is not the easiest process. Costs, intermediaries, and documents can make it costly and time consuming. FintruX has a number of benefits to borrowers and lenders when compared to outdated processes. Some of the benefits are mentioned below, but check their white papers for the complete list.
Benefits of Borrower:
- Transparency and fairness
- Lower transaction costs
- Fast and efficient
Benefits of Lending:
- Investment minus risk
- There are no upfront costs for the lender
- Fully automated for efficient lending process
FintruX already has a nice wire frame available for both borrowers and lenders. Many projects tend to have some mock-up screenshots or just words on their platform white paper. This is great because you can feel what it’s like to use their platform. The design is very clean, easy to navigate, and provides important information. Go to their website and click “wireframe” at the top right to check it. The first screenshot below is from the ‘Borrower’ wire frame, and the second is from the ‘Lender’ wire frame.
Note that you can even use the “Add Funding” or “Get a Quote” option on the wire frame and see how it works. It will also be updated on your dashboard, so it’s more than just a pretty front page.
FintruX Token (FTX)
FTX #token is an ERC-20 token, so you can save it in your #Ethereum wallet. If you do not have an etereum wallet, check this guide on how to set it up. This token has many uses in the FintruX ecosystem, listed below.
Gift transaction execution
Token reserve reserve
Gifts for good behavior, punishment for bad behavior
Reward to provide information
FTX does not represent proprietary or proprietary rights in FintruX, this is considered a utility token. As activities are done on the network, FTX is transferred from one participant to another. This means the token value will be downgraded from the use of the platform.
Details of ICO FintruX
FintruX #ICO has a limit of 75,000,000 #FTX tokens, representing 75% of total tokens. There is a token sales bonus model, so the stamp in USD will vary. However, if we are conservative and use the price without bonus, it will be a hard hat of 50,000 ETH. At the time of writing #ETH is ~ $ 450, so this will be ~ $ 22.5Mil. Here is a screenshot of their white paper with a bonus model.
Token distribution is one of the best I’ve seen. As mentioned earlier, 75% defeat is sold to the public. The remaining 25% is divided between teams (10% and locked for 12 months), collateral reserves (5%), and FintruX reserves (10%). FintruX reserves are used to reward advisors, early adopters, reward programs, and to provide liquidity where necessary. A visual of the details below with additional details of each category.
Details of fund distribution are core (40%), operational (25%), marketing (25%), and legal (10%). This is a common solution between projects, which is a good thing. Development of projects with cutting edge technology needs to allocate the majority for development and operation. Law is also important in this space because there are many unknowns. A visual of the details below with additional details of each category of use.
The FintruX team is very powerful and consists of 6 people. There are also 6 advisors who assist this project. Business partners include Microsoft, Enterprise Ethereum Alliance, Robocoder Corporation, and Cynopsis Solutions. Some additional information about some of the team members can be found below.
CEO and Founder is Nelson Lin. His experience spans over 30 years in providing financing solutions in the financial sector. This includes custom enterprise applications for organizations such as JP Morgan and AT & T Capital. Nelson also spearheaded online credit adjudication for Canadian-based financing and leasing industry.
CMO and co-founder Conrad Lin. Conrad is Director of Business Development at Robocoder Corporation. Prior to this position, he was a Web Application & Marketing / Database Developer for NeighbourLink North York.
CTO is Gary Ng. His experience includes 25 years as an experienced architect in finance. Gary is very expert in all major programming languages and computing platforms. Scalability and security are the focus, while providing cost-effective solutions.
The Team Behind It All.
for more information on fintrux please visit the link site located below:
- Website: https://www.fintrux.com/
- WhitePaper: https://www.fintrux.com/home/doc/whitepaper.pdf
- Facebook: https://web.facebook.com/FintruX/
- Telegram: https://t.me/FintruX
- Ann Thread: https://bitcointalk.org/index.php?topic=2286042
- Twitter: https://twitter.com/fintrux