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

[styca]

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

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

[Siamda]

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

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

Do you think that they will reach this limit?

[rokieinvest]

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

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?

[Joneskay]

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

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

Do you think that they will reach this limit?

I think It could be possible, most of the good projects Reaches their ICO objectives

[poordeveloper]

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.

[Retired]

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

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.

[Jupiter13]

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

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

Do you think that they will reach this limit?

I think It could be possible, most of the good projects Reaches their ICO objectives

I see this project and I think that they will go far. So, they will achieve good results in the ICO sale.

[styca]

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

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

Do you think that they will reach this limit?

I think It could be possible, most of the good projects Reaches their ICO objectives

... and this is certainly a good project. Fintrux scored a rating of 4.8 out of 5 on ICO Bench, which is incredibly high. This is one of the best upcoming projects out there, and has a great chance of doing well at ICO.

[tokenwar]

How long before token sale starting? I can't wait to buy them! haha

[cryptomoneyresearcher]

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.

Ok, I think that their "instant matching" will find the perfect lender to you in the marketplace of that moment.

[cryptomoneyresearcher]

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?

[FintruX]

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.

[FintruX]

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.

[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!

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.

Thanks again for another great example. It sounds like you have a very strong system in place for determining credit-worthiness and for preventing exploitation.

[Jupiter13]

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.

Can't wait for the video! Meanwhile I'll pay attention to the conference.

[bucayboyne]

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

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 after that will token be available to be bought to another investor?

[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?

In phase II, it will be any currency you like.

In phase I, Must we to invest only in Ethereums?

Investors used to invest in Ethereums in ICOs

[cryptomoneyresearcher]

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.

Ok, thank you. I'll try both. Later I will post my impressions.

[poordeveloper]

I registered an account at the demo and I must say it's an awesomely designed dashboard, and the wizards are very intuitive.

[Schopenhauer365]

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.