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

[Schopenhauer365]

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?

We are answering questions 24/7 on our telegram channel! Definitely feel free to come in and check us out at t.me/FintruX

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?

A delinquent borrower refers to a borrower that does not pay their loans back on time, or defaults completely.

And that's have a penalty, I presume

[bucayboyne]

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?

Are you asking for the presale?

Yes, i am asking about presale

I think it finish on 31 December

Yes, you are right. But in January it will be another presale.

This second presale will have the same bonus as the current one?

Normally there is presale and a sale, why do you have two presales?

[heinemannplus]

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! 

It's a good bonus! If we invest now, we will earn more.

I think it is an incentive to me for invest even more

[cryptomoneyresearcher]

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?

Are you asking for the presale?

Yes, i am asking about presale

I saw somewhere that there will be other presale in January.

Do you know when exactly?

Wait a moment, I'll check it out.

[cryptomoneyresearcher]

The next presale will start 07 January, 2018. You can see it at their site.

[cryptomoneyresearcher]

How much can I earn by investing $ 100?

It depends of how much will the token value increase before you send them

The exact value of token will be determined after preICO ends, I guess.

[Siamda]

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?

Are you asking for the presale?

Yes, i am asking about presale

I think it finish on 31 December

Yes, you are right. But in January it will be another presale.

This second presale will have the same bonus as the current one?

Yes, it has 10% bonus.

[Siamda]

For everyone who has asked:

The bonus changes on total tokens sold, not on the amount that you as an individual buy. So basically what matters is when you buy, the earlier the better. It's in the table that's been linked in this thread, and also on the token sale page of the website: https://www.fintrux.com/tokensale.aspx

The pre-sale starts at: 5:00PM UTC, 07 Dec, 2017 ... which is 1 day and 21 hours from the time I post this Again this is on the token sale page of the website: https://www.fintrux.com/tokensale.aspx
Pre-sale ends at: 5:00PM UTC, 21 Dec, 2017 ... i.e., after 14 days.

You can register for pre-sale on the token page of the website

I don't understand yet how many sold tokens will change the bonus. Anybody can explain me?

I have found that 10% bonus will diminish down to 5% bonus after the soft cap has passed.

[tokenwar]

For everyone who has asked:

The bonus changes on total tokens sold, not on the amount that you as an individual buy. So basically what matters is when you buy, the earlier the better. It's in the table that's been linked in this thread, and also on the token sale page of the website: https://www.fintrux.com/tokensale.aspx

The pre-sale starts at: 5:00PM UTC, 07 Dec, 2017 ... which is 1 day and 21 hours from the time I post this Again this is on the token sale page of the website: https://www.fintrux.com/tokensale.aspx
Pre-sale ends at: 5:00PM UTC, 21 Dec, 2017 ... i.e., after 14 days.

You can register for pre-sale on the token page of the website

I don't understand yet how many sold tokens will change the bonus. Anybody can explain me?

I have found that 10% bonus will diminish down to 5% bonus after the soft cap has passed.

Ah OK. What is their soft cap?

[Siamda]

For everyone who has asked:

The bonus changes on total tokens sold, not on the amount that you as an individual buy. So basically what matters is when you buy, the earlier the better. It's in the table that's been linked in this thread, and also on the token sale page of the website: https://www.fintrux.com/tokensale.aspx

The pre-sale starts at: 5:00PM UTC, 07 Dec, 2017 ... which is 1 day and 21 hours from the time I post this Again this is on the token sale page of the website: https://www.fintrux.com/tokensale.aspx
Pre-sale ends at: 5:00PM UTC, 21 Dec, 2017 ... i.e., after 14 days.

You can register for pre-sale on the token page of the website

I don't understand yet how many sold tokens will change the bonus. Anybody can explain me?

I have found that 10% bonus will diminish down to 5% bonus after the soft cap has passed.

Ah OK. What is their soft cap?

Soft cap is 5,000 ETH. 

[Jupiter13]

When will finish this presale? Before 2018 I guess.

[bucayboyne]

The next presale will start 07 January, 2018. You can see it at their site.

thank you for the information

[Huxleyfree]

How much can I earn by investing $ 100?

It depends of how much will the token value increase before you send them

The exact value of token will be determined after preICO ends, I guess.

Can I still get the bonus for first invest?

[Joneskay]

The next presale will start 07 January, 2018. You can see it at their site.

OK, thank you. By the moment there is a presale that finish on 31 December, isn't it?

[heinemannplus]

How much can I earn by investing $ 100?

It depends of how much will the token value increase before you send them

The exact value of token will be determined after preICO ends, I guess.

Can I still get the bonus for first invest?

What is this bonus?

[rokieinvest]

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?

We are answering questions 24/7 on our telegram channel! Definitely feel free to come in and check us out at t.me/FintruX

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?

A delinquent borrower refers to a borrower that does not pay their loans back on time, or defaults completely.

And that's have a penalty, I presume

I think what he is explaining is exactly this, the penalties

[Schopenhauer365]

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?

Are you asking for the presale?

Yes, i am asking about presale

I think it finish on 31 December

Yes, you are right. But in January it will be another presale.

This second presale will have the same bonus as the current one?

Yes, it has 10% bonus.

that is a good bonus, I am.going to invest to get it

[Tarepa]

what is the objective of this project? permit a online loan?

Better if you read with patience the whitepaper. There, there in a good explanation about the project.

where can i find the whitepaper? is there a short version or summary?

[Tarepa]

what is the objective of this project? permit a online loan?

If you only read their slogan you can imagine what is the project.
"Making unsecure loans highly secure"

i see... they have experience in this sector?

[Siamda]

When will finish this presale? Before 2018 I guess.

I think 31 December.