Easily Create Funds or ICOs
A project designed to help people easily create funds for a variety of purposes ranging from investment funds, crowdfunding campaigns, funds which digitize real world assets and much more.
FUNDPLATFORM: MAKING IT EASY TO CREATE FUNDS
Today Coinist was fortunate enough to chat with the folks at FundPLatform. A project designed to help people easily create funds for a variety of purposes ranging from investment funds, crowdfunding campaigns, funds which digitize real world assets and much more. Let’s jump into the interview.
Hello and thank you for joining us today. After reading through your website and whitepaper I see you have quite an ambitious project on your hands here. On your website you mention that you seek to solve many of the problems you see in the funding or fund creation space. Some of these problems include 1. the creation 2. Promotion 3. Incorporation and 4. Investing in these funds. Please outline in more detail how FundPLatform will solve these problems by stating 1. How things currently work and 2. How FundPlatform will solve the problems found in the current system:
– Creation
The old way: To create a fund, people have to spend a lot of money and time. It takes months and even years to come up with an idea, form the team and raise necessary resources for that.
FundPlatform way: You can create a fund and issue tokens (fund’s digital assets) just in few minutes, paying minimum money for the blockchain network.
– Promotion
The old way: Huge expenditures for marketing and investors’ search
Fundplatform way: a ready-made marketplace, where a fund can attract investments without spending much money on that.
– Incorporation
The old way: Searching for lawyers, expenses on incorporation process and solutions to legalize the digital assets.
FundPlatform way: Ready packaged solutions for crypto projects and cryptofunds.
– Investment
The old way: Investors are afraid to lose their money as they don’t trust in the fund. Moreover, there is a probability of money thefts.
FundPlatform way: gradual repayments to the fund, escrow, the secureinvestment process
One advantage you talk about on your website is that FundPlatform users can create an unlimited amount of sub-tokens. Can you tell us more about what the real-world use cases are for this feature using examples?
The closest analogues are Open-end funds and shares in hedge funds that allow to invest in a certain strategy. Here is the same: each token is a new strategy.
One use case is for users who want to create their own cryptofunds. The creation of a cryptofund would allow investors to invest in the fund as well. Can you walk us through the steps involved in 1. Creating the fund 2. Managing the fund and 3. Payouts? Is this managed through smart contracts? How are investors funds protected?
You come up with an idea that requires money for realization. You come to our platform and describe your idea in a simple and understandable language. Then, you create a fund or launch the ICO, name it and describe what your project is doing. After that, you release the tokens.
Managing the fund is easy – you have your own fund manager’s dashboard, where you can manage investments, issue tokens and set up strategies for your fund.
Money withdrawal proceeds gradually, through due diligence and tracking of the fund for a certain time. That’s why the investors don’t have to worry about their own funds.
You’re planning on designing a fund builder. This fund builder will allow users to select their fund type, define a strategy, configure their structure, develop a marketing strategy and provide legal support. Can you explain in more detail what you mean by “configuration of the structure”?
If you have ever created a website via a builder, here everything works the same. You generate a private dashboard of your fund and adjust it to your needs.
Can you explain in more detail how the fund builder will handle the “development of the marketing strategy”?
Our experts will conduct a comprehensive analysis for your fund and offer you the best strategy for marketing campaign on specific markets.
Can you explain in more detail how the fund builder will handle “legal support”?
Thanks to packaged software solutions that we have developed, a fund can incorporate his company and get a bank account if necessary.
FundPlatform is aiming to offer funds which represent many different things. For example a fund could represent a investment, a crowdfunding campaign or a tokenization of an asset. However, the backend infrastructure for each of those assets is very different. For example, if a user launches a fund to represent an asset how is the assets existence proven? Can you tell us more about how you plan on dealing with the variation of technical needs for each fund type?
When the fund manager signs in the platform, he can access the list of actions he can perform. If the purpose of his fund is trading on the exchange, he chooses * a trade fund * and then receives a simple and convenient interface for accessing exchanges through the API. If the purpose is the ICO, then the Fund Platform team will put all the efforts to help the project get a convenient personal dashboard where the project can issue their tokens in a matter of minutes and begin the crowdfunding.
On your website you mention that projects are backed with “trustworthy information and statistics”. This of course, helps protect investors. Can you explain in more detail how the project vetting and statistics process will look?
Each fund is able to communicate with investors on chats or blogs, where the fund can upload documents and financial statements to their investors.
You’re using NEM to launch project. Why did you decide on using NEM vs other options available to you? Specifically, why did you select NEM over Ethereum?
Nem is faster by several times than Ethereum, transactions are cheaper. Moreover, NEM allows to issue tokens and sub-tokens in a few minutes.
After launching a project on NEM, what do you see as NEM’s biggest strengths?
Made on NEM, we are able to introduce regular improvements to our platform and develop in parallel with NEM platform.
What’s do you see as NEM’s biggest weaknesses?
Its low price, but for technically difficult projects that’s a big plus. Fund Platform is exactly such a project.
Thanks for joining us today and letting us know about your project. To our audience, if you’re interested in learning more about Fund Platform you can check out their website here:
https://fundplatform.io/en/#3
