FintruX – P2P Lending System

What is FintruX?

FintruX is a peer-to-peer (P2P) platform designed to facilitate marketplace lending and borrowing. The platform will be blockchain-based and aims to put lenders and borrowers in direct contact with each other. The loans will be agreed upon using smart contracts, which will provide both parties with much more flexibility and control over the loan. The mission of the FintruX project is to facilitate a greater sense of trust between borrowers and lenders. The team aims to accomplish this by creating a blockchain-based ecosystem that will maximize financial liquidity. The end result will be a solution that benefits everyone involved.

Solutions and problems

As anyone who has ever attempted to apply for a loan will know, it is a long and arduous process that takes time and resources. Paperwork needs to be filled out, meetings with consultants need to be arranged, credit history needs to be checked, financial situations need to be assessed, and even then there is no guarantee that the loan will be approved. On top of this, the number of intermediaries between you and the money drives up the cost of the loan. So what is the solution? FinTruX cuts out the middlemen by having lender and borrower connected to the platform. This reduces the cost of the loan. Perhaps more importantly, the credit enhancement offered by the FinTruX system will neutralize creditworthiness of borrowers and help reduce the default risk of debt.

How does it work?

As a lender, you will deposit the funds you have available for lending into the FinTruX network. You will then sign the power of attorney over to FinTruX, and will then be able to set the amount of risk you’re willing to take with potential borrowers. As a borrower, you will make the application and pass the reference checks, then deposit 10% of the amount you want to loan into a cross-collateralization pool.

Details

Token FTX

Price in preICO 1 ETH = 1,650 FTX

Price in ICO 1 ETH = 1,500 FTX

Country Singapore

preICO started 7th Jan 2018

preICO ended 21st Jan 2018

ICO started 7th Feb 2018

ICO ended 28th Feb 2018

Learn more

Visit the website HERE.

Read the white paper HERE.

Join the Telegram group HERE.

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