[ANN][ICO] FintruX Network - 💲 THE GLOBAL P2P LENDING ECOSYSTEM ✅ 💲

[styca]

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!

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[Joneskay]

Will it be an apps for Android and IOS?

[styca]

Will your token will be in exchanges?

I suppose that their tokens will be on echanges after the sale ends.

Certainly. This is a big project, and will definitely be listed on exchanges after the sale ends. We do need to be patient though, as it takes time to get listed.

[tokenwar]

After we buy tokens, when will tokens be distributed from the token sale?

[rokieinvest]

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?

[globalcitizen]

I see a great future ahead of this project because it looks so unique to me. As a result I just downloaded the whitepaper to be sure I can grab everything about its uniqueness. I can't wait to delve into the whitepaper and come back here to discuss it with the community. Well done Dev team.

[cryptomoneyresearcher]

Will we be able to choose the interest and time to pay the loan?
I suppose that there will be some options.

[Huxleyfree]

I'm from Europe and I would like to know if the token sale and presale is open to european investors
[/quote

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?

I think investments should be in Ethereum, I am investing with them

[Joneskay]

I'm from Europe and I would like to know if the token sale and presale is open to european investors
[/quote

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?

I think investments should be in Ethereum, I am investing with them

Does anybody know what wallet is the best to invest?

[tokenwar]

 How much volume do you expect to process in the first year?

[styca]

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.

[heinemannplus]

I'm from Europe and I would like to know if the token sale and presale is open to european investors
[/quote

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?

I think investments should be in Ethereum, I am investing with them

Does anybody know what wallet is the best to invest?

I always use MyEtherWallet and I have never a problem. I recommend it for invest

[rokieinvest]

I'm from Europe and I would like to know if the token sale and presale is open to european investors
[/quote

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?

I think investments should be in Ethereum, I am investing with them

Only in Ethereums, can we invest in Bitcoin?

[Schopenhauer365]

I'm from Europe and I would like to know if the token sale and presale is open to european investors
[/quote

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?

I think investments should be in Ethereum, I am investing with them

Does anybody know what wallet is the best to invest?

I always use MyEtherWallet and I have never a problem. I recommend it for invest

For me MEW is the best, but it depends to you

[FintruX]

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.

[FintruX]

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.

[dzonikg28]

Are you still on track with the production of the video? Will it be available this week?

[Schopenhauer365]

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?

[captcha01]

What do you do if the money collected during the sale isn’t enough to develop a full version of the platform?

[bucayboyne]

What will happen if you sell all tokens before ICO finish?