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Author Topic: [ANN][ICO] FintruX Network - 💲 THE GLOBAL P2P LENDING ECOSYSTEM ✅ 💲  (Read 19052 times)
Schopenhauer365
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December 07, 2017, 07:30:16 PM
 #581

What are your prospetcs about the project?
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Joneskay
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December 07, 2017, 07:39:13 PM
 #582

Will you work in another project relaled to this one?
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December 07, 2017, 07:53:26 PM
 #583

Have you got another project similat at this?
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December 07, 2017, 07:56:46 PM
 #584

Where can I follow the ICO news? I wanna know how many tokens are being sold or how many time there are until it finish.
I like to know if there is one site where we can we informed about the ICO apart of this
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December 07, 2017, 08:04:12 PM
 #585

What is your experience in the sector?
rokieinvest
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December 07, 2017, 08:05:44 PM
 #586

How many hours for the token sale?
I think 2 or 3 hours more or less.
It is start already?
cryptomoneyresearcher
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December 07, 2017, 09:16:26 PM
 #587

How will the project guarantee that the lender receive their loan back?
They have a plan for these situations in which the borrower don't pay. You can see it at the whitepaper, sure.
Good to know it. Anybody knows where can I find it, in what page?


Page 2 gives an overview. Basically there is 10% of each loan collected as collateral, plus guarantors, plus third party insurance.
There is also this from earlier in this thread:

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.
That's what I was saying. Really good plan to solve problems.
cryptomoneyresearcher
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December 07, 2017, 09:23:34 PM
 #588

How many hours for the token sale?
I think 2 or 3 hours more or less.
It is start already?
The private presale has started.
cryptomoneyresearcher
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December 07, 2017, 09:24:43 PM
 #589

You can solve some of your questions if you go to their site.
www.fintrux.com
Siamda
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December 07, 2017, 09:26:53 PM
 #590

How many hours for the token sale?
It starts at 17:00, i presume
But is it the sale or presale yet?
tokenwar
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December 07, 2017, 09:28:55 PM
 #591

How many hours for the token sale?
It starts at 17:00, i presume
But is it the sale or presale yet?
It's presale. Now you can get 10% bonus!  Wink
bucayboyne
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December 08, 2017, 11:54:15 AM
 #592

You can solve some of your questions if you go to their site.
www.fintrux.com
Is there any subpage where they can help you?
heinemannplus
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December 08, 2017, 11:56:35 AM
 #593

How will the project guarantee that the lender receive their loan back?
They have a plan for these situations in which the borrower don't pay. You can see it at the whitepaper, sure.
Good to know it. Anybody knows where can I find it, in what page?


Page 2 gives an overview. Basically there is 10% of each loan collected as collateral, plus guarantors, plus third party insurance.
There is also this from earlier in this thread:

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.
That's what I was saying. Really good plan to solve problems.
what do you mean when you said delinquent?
Schopenhauer365
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December 08, 2017, 11:58:32 AM
 #594

How many hours for the token sale?
It starts at 17:00, i presume
But is it the sale or presale yet?
It's presale. Now you can get 10% bonus!  Wink
When will the sale start?
rokieinvest
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December 08, 2017, 12:00:50 PM
 #595

How many hours for the token sale?
I think 2 or 3 hours more or less.
It is start already?
The private presale has started.
When does it finish?
Joneskay
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December 08, 2017, 12:11:09 PM
 #596

Are you asking for the presale?
rokieinvest
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December 08, 2017, 12:26:18 PM
 #597

Yes, i am asking about presale
cryptomoneyresearcher
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December 08, 2017, 01:40:31 PM
 #598

You can solve some of your questions if you go to their site.
www.fintrux.com
Is there any subpage where they can help you?
Do you mean, where you can ask any question?
cryptomoneyresearcher
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December 08, 2017, 01:47:04 PM
 #599

I saw somewhere that there will be other presale in January.
alekscryptoinvest
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December 08, 2017, 01:50:35 PM
 #600

How much can I earn by investing $ 100?
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