What will happen if you sell all tokens before ICO finish?
And when do you preview that tokens will be in exchanges? In common with most ICOs, FintruX has a hard cap... so when hard cap is reached, ICO is over. I think the various caps are: Presale #1 & #2: each 7000 ETH Main ICO: 75 million tokens And if everything is sold, will tokens be in exchanges then? There's no need for then to sell all the tokens in order to reach the exchanges. can I use exchanges for buy tokens instead of sell them? We definitely recommend that you buy tokens in our presale, where you will get a 10% bonus! Make sure you are pre-registered (: https://www.fintrux.com/tokensale.aspx Yes, if you buy from the pre-sale you'll get extra bonuses. Will the sale have bonuses too or it is only for presale? Sale will have bonus too! From 5% if you participate early, to no bonus near the end. Best to get in as soon as you can  |
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What will happen if you sell all tokens before ICO finish?
And when do you preview that tokens will be in exchanges? In common with most ICOs, FintruX has a hard cap... so when hard cap is reached, ICO is over. I think the various caps are: Presale #1 & #2: each 7000 ETH Main ICO: 75 million tokens And if everything is sold, will tokens be in exchanges then? There's no need for then to sell all the tokens in order to reach the exchanges. can I use exchanges for buy tokens instead of sell them? We definitely recommend that you buy tokens in our presale, where you will get a 10% bonus! Make sure you are pre-registered (: https://www.fintrux.com/tokensale.aspx |
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This question is for the FintruX team. Have you ever worked together before creating this company?
The team has been together for quite a long time...many of the developers from Robocoder Corporation has been with the company since inception (1999). Our advisors have been our good friends for the last year, and have tremendous faith in our ability to develop and execute our project. The founders (Nelson and Conrad) are actually father and son - people like to say that Nelson has the experience, and Conrad has the energy. All in all, we all work very well together, and i think it shows in the community that we have built around FintruX. Everybody has been very nice, and fantastic to communicate with - and it is our pleasure to have you all as our supporters. |
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Which exchanges do you plan on being listed on?
Unfortunately we cannot comment on exchange listings at this time. However, whenever our token is listed on an exchange, we'll be sure to make an announcement to the community. |
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Are you still on track with the production of the video? Will it be available this week?
It would definitely be a step in the right direction. Production of the video is to be finished sometime this week. We will also have a video after our conference talk at Vanfunding 2017 on Tuesday! Stay tuned everybody. |
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The front page of the website and the opening post in this ANN thread do a very good job of explaining the nature of the project and what makes FintruX stand out from the competition.
One thing I would love to see though is some example cases to really give people an extra clear picture of how it all works, e.g. Alice registers as a lender, Bob takes out the loan and pays it all back, then Charlie takes out a loan but doesn't pay it back, etc., going on to show how the bad debt is covered, how credit worthiness is established and affected.
Hi Styca, that's a wonderful question. Please allow me to paint a clear picture, using your example. If 'Charlie' doesn't pay, the following will occur: - ~1 day delinquent: email goes out - ~3 day delinquent: email and text message go out - ~7 day delinquent: email and text message and collection calls go out - after ~1 month of no payment: over-collateralization kicks in - after ~2 months of no payment Guarantor gets notified - after ~3 months of no payment: Guarantor gets called upon to provide full balance payment... and if no guarantor then client will get paid from the cross-collateral pool and ultimate reserve pool for overage. Self serve refinancing option is available to borrowers to avoid delinquencies. The number of times, amounts and terms are presented by the lenders upfront. Lenders can rate their borrowers at the end of term from 1 to 5 stars with written review. It would be silly for the borrowers to destroy their reputation for future borrowing. In the future, APIs can be used to connect to our systems so lenders in banks, small firms, etc. can use our well established ratings to determine eligibility their clients. Currently, if you want to borrow from a different bank within the same city, they have different fees/waiting periods because each bank has a different internal record of your credit. We are solving that. Thanks again for this detailed example. One thing I'm still unsure about is how credit enhancement works, and the mechanisms used to prevent exploitation. Please would you be able to help me a bit on this? Say if someone takes out a lot of very small loans and pays them all back, with the aim of establishing a high credit rating... and then uses this high credit rating to obtain a much larger loan which they can then default on. Is the solution that the borrower's rating only increases in proportion to the amount borrowed? So if someone borrows $10 and gets rated 5 their credit rating increases 5x10=50, but if they borrow $100 and get a 5, their rating increases +500 ? I appreciate I'm being over-simplistic. Apologies if I'm also being stupid! Hi Styca, there are no stupid questions. We are happy to help everybody understand the product we are trying to build. We will be partnering with various credit scoring agents in our ecosystem and we cannot comment on exactly how they calculate their ratings. That being said, credit rating only gets one approved or disapprove and it may affect the interest rate; the amount to be borrowed is purely based on the ability to repay. Therefore, having a history of very small loans and pays them all back does not qualify for a larger loan. Use case: The owner of a Startup company has the equivalent of credit score more than 630 FICO score. Approved, based the combined (person + business) ability to repay, the maximum borrowing can be $10,000. The credit rating can improve over time and the interest rate may go down accordingly, but the maximum he can borrow is still based on the ability to repay, ie $10,000. There is no need to borrow $3,000 multiple times, the small business can borrow $10,000 right from the start. I'm from Europe and I would like to know if the token sale and presale is open to european investors
The presale is definitely open to European investors! Is there a worldwide project?
This is definitely a worldwide project! Our end goal is for borrowers to borrow from any lender in the world - unlocking the money and increasing the living standards of all. So can I invest wherever am I? Yes, our phase II is cross-border lending. We want borrowers to access funding worldwide. Can I invest in fiats or only en Ethereum? In phase II, it will be any currency you like. In phase I, Must we to invest only in Ethereums? We anticipate in phase I, which is lending money within borders, it will be in both FIAT and crypto. Will we be able to choose the interest and time to pay the loan?
I suppose that there will be some options.
I'd like to know this as well. Presumably each lender will offer different terms in an open marketplace, and borrowers can choose which to apply for. Definitely! As a borrower, you can set the parameters that you want to borrow at. That would include loan amount, interest rate, term, etc. I highly recommend trying out our wireframe on our website to see the matching process for yourself. Perfect! I see that the parameters of the loan are flexible. Where can I find your wireframe exactly? You can find it here! https://www.fintrux.com/demo/login.html Please make an account and try out both the lender and borrower interface for yourself, and don't hesitate to ask if you have any additional questions. |
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Hi everybody, week 14 bounty spreadsheet has been updated. Thank you for all the ongoing support! As usual, if you do not find your contribution listed correctly, please ensure that you have updated your contribution on the the Bitcointalk bounty thread ( https://bitcointalk.org/index.php?topic=2101606.60) and send me a PM on gitter to verify and update. |
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Will we be able to choose the interest and time to pay the loan?
I suppose that there will be some options.
I'd like to know this as well. Presumably each lender will offer different terms in an open marketplace, and borrowers can choose which to apply for. Definitely! As a borrower, you can set the parameters that you want to borrow at. That would include loan amount, interest rate, term, etc. I highly recommend trying out our wireframe on our website to see the matching process for yourself. |
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I'm from Europe and I would like to know if the token sale and presale is open to european investors
The presale is definitely open to European investors! Is there a worldwide project?
This is definitely a worldwide project! Our end goal is for borrowers to borrow from any lender in the world - unlocking the money and increasing the living standards of all. So can I invest wherever am I? Yes, our phase II is cross-border lending. We want borrowers to access funding worldwide. Can I invest in fiats or only en Ethereum? In phase II, it will be any currency you like. |
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I'm from Europe and I would like to know if the token sale and presale is open to european investors
The presale is definitely open to European investors! Is there a worldwide project?
This is definitely a worldwide project! Our end goal is for borrowers to borrow from any lender in the world - unlocking the money and increasing the living standards of all. So can I invest wherever am I? Yes, our phase II is cross-border lending. We want borrowers to access funding worldwide. |
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We are proud to announce to the community that we have
2 additional experts joining our advisory board to take us to greater heights.
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I'm from Europe and I would like to know if the token sale and presale is open to european investors
The presale is definitely open to European investors! Is there a worldwide project?
This is definitely a worldwide project! Our end goal is for borrowers to borrow from any lender in the world - unlocking the money and increasing the living standards of all. |
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FintruX is the highest rated ICO on ICO Bench! Join the Pre-Sale by clicking below! Congratulations! That's a good new. This is the link for registration, isn't it? Correct! Please make sure you pre-register for the token sale to participate! |
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FintruX is the highest rated ICO on ICO Bench! Join the Pre-Sale by clicking below! |
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Can I still join to telegram group?
I think so, I joined recently! You must to select the link in the first post and join to the group as I understand you can join to the bounty campaign whenever you want during the ICO ok, can anybody pass me the link or the bounty campaign has her own topic? There is a thread only for the bounty campaign. You can follow this link https://bitcointalk.org/index.php?topic=2101606.0 Thanks iam going to register in the bounty campaing Wonderful! I see that you currently have no signature. Please feel free to wear ours for extra bounty! I've token a look at the bounty campaign but I don't understand very well the rules. Can you summarize? I'm waiting to be Jr. Member to have this bounty! Well there are a lot of bounty campaigns you can participate in. If your bitcointalk ranking is not high enough, please feel free to join our Facebook/twitter bounty! All you have to do is retweet/share our content, and/or like it (: |
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Can I still join to telegram group?
I think so, I joined recently! You must to select the link in the first post and join to the group as I understand you can join to the bounty campaign whenever you want during the ICO ok, can anybody pass me the link or the bounty campaign has her own topic? There is a thread only for the bounty campaign. You can follow this link https://bitcointalk.org/index.php?topic=2101606.0 Thanks iam going to register in the bounty campaing Wonderful! I see that you currently have no signature. Please feel free to wear ours for extra bounty! |
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What gas limit should we use for investing?
Detailed instructions will be posted on the website when sale is live, but for now my answer is 200,000. |
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The front page of the website and the opening post in this ANN thread do a very good job of explaining the nature of the project and what makes FintruX stand out from the competition.
One thing I would love to see though is some example cases to really give people an extra clear picture of how it all works, e.g. Alice registers as a lender, Bob takes out the loan and pays it all back, then Charlie takes out a loan but doesn't pay it back, etc., going on to show how the bad debt is covered, how credit worthiness is established and affected.
Hi Styca, that's a wonderful question. Please allow me to paint a clear picture, using your example. If 'Charlie' doesn't pay, the following will occur: - ~1 day delinquent: email goes out - ~3 day delinquent: email and text message go out - ~7 day delinquent: email and text message and collection calls go out - after ~1 month of no payment: over-collateralization kicks in - after ~2 months of no payment Guarantor gets notified - after ~3 months of no payment: Guarantor gets called upon to provide full balance payment... and if no guarantor then client will get paid from the cross-collateral pool and ultimate reserve pool for overage. Self serve refinancing option is available to borrowers to avoid delinquencies. The number of times, amounts and terms are presented by the lenders upfront. Lenders can rate their borrowers at the end of term from 1 to 5 stars with written review. It would be silly for the borrowers to destroy their reputation for future borrowing. In the future, APIs can be used to connect to our systems so lenders in banks, small firms, etc. can use our well established ratings to determine eligibility their clients. Currently, if you want to borrow from a different bank within the same city, they have different fees/waiting periods because each bank has a different internal record of your credit. We are solving that. |
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How will you plan make all the process without any intermediator? can you explain more about this?
We are instant matching borrowers and lenders based on their parameters that they choose beforehand. For the lenders, it is as simple as putting money into the platform, choosing their parameters for lending out (amount, term, risk, etc.) and receiving interest. A true automated money machine. For the borrowers, they specify the loan they want, with the specifics of the funds they need. Our platform instantly matches compatible borrowers and lenders to make financing a no brainier. |
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We actually have a brand new video in the works which explains our value proposition in 60 seconds. Out this week so stay tuned (: |
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