You wrote - "Powerloan is a cryptographic loan program aimed at becoming a marker for storing securities." What's in your view is the storage token. What securities will be kept? What benefit to investors?
Also it is not clear who is behind the project: I didn't see normal description of team.
What are benefits between Powerloan and other similar projects?
(Just added - Firstly I apologize for the long post. But Powerloan is something we are passionate about and have worked many months to get to this point. So the question is just so relevant as we have been working so long to differentiate ourselves.)
Yes, we do believe there are other similar projects but each project is very unique in several ways in term of development, team setup, objective as well as the way we operate.
Development - Powerloan idea came in August 2017, along with many lending program we have begin our team setup and planning. But we did not rush the idea even when bitcoin hits $19,000.00. We believe in order to have a successful lending program, all features such as lending, internal exchange, external exchange, staking wallet as such must be made available as soon as ICO ends. Many lending program, who was rushing to grab as much BTC as possible as it was soaring did not see that it will not be sustainable. When BTC price plummeted, a lot of the lending program can no longer sustain their collection as they are paying out lending in Fiat. Timing is key for lending to be sustainable, it either needs to be at a low price or it should grow from the entry price. We believe at this timeframe, BTC is stabilizing from a bull market. It would be perfect. We had 1 month for a full strategy and requirement study and 4 months of time for development to make the system ready before releasing it last week. By completion of ICO, we should be able to run 2 weeks of open testing by users before releasing all features to the public. User can volunteer to be testers, and will be rewarded for their participation.
Team Setup - We started from the top, where I was thinking on how to integrate lending with an existing investment on renewal energy technology that I have. We got consultants to advice on how much capital we require for the investment to grow and branch into new ventures, we got actuarial services to determine a payout we could afford for the loan, and a team of professional developers who have worked on large scale implementation project with best practices. Everything needs to be tied, from business objective down to the level of development requirements. We as much as possible, try to keep most best practices such as a 3 tier release system of Dev, Qas and Prd to ensure we do not risk the productive environment that our users are using.
Objective - The objective of Powerloan is not to grab as much BTC as possible during ICO. We want to make sure we get what we could afford, and therefore have capped the number of coins sold during PreICO and ICO to 6,000,000 unit. That is the amount we could borrow at this time, and still afford to payout consistently while we use new funds to venture into new businesses. Our objective for the token, is the retention of value, our first priority is that the token value stays stable and grow over the long term. We believe consistent payout is key to build trust.
Operation - The sequence that we believe, is that our coin needs to be on external exchange before, or during the release of our lending program. There are a lot of lending program who announces their coin value even before the ICO. We do not know, how that is possible - first of all, if you overvalue your coin and take loan from owners above market value, how could it be sustained? If every developer or team members have a stake in token, how can anyone stay loyal? Everyone in Powerloan will get paid in a fixed monthly amount and if performing, would receive a dividend. We consider Powerloan as an entity on it's own and should manage its fund independently and professionally.
Long story short, with the same business model, there are a thousand ways to operate it. We hope with some short explanation above, people might have a grasp on how we aim to operate and run Powerloan. We want to be
prudent, practical, safe and yet responsible. We do not promise you $10 at the end of ICO, what we commit, is that we work our best to take it to $100, over the long run if our plans work out as it should.
