FinWhaleX - lenders choose the most profitable application for themselves
Introduction
FinWhaleX is a P2P loan platform that provides access to loans anywhere and anytime based on blockchain technology, machine learning, and Big Data. Two billion people worldwide do not have access to bank accounts or financial institutions and are forced to use alternative payment methods to make transactions. This signifies a great emptiness. To facilitate access to financial transactions which, once completed, remove major obstacles to economic growth worldwide. To overcome this, the World Bank has set a goal of universal access to official financial services by 2020.
In recent years, technology innovators have made giant leaps to fill the gap, enabling people to borrow and lend money without using official financial institutions as intermediaries through peer-to-peer (P2P) loans.
How does it work?
You place a loan application
When making your loan application, the Borrower sets parameters according to his choice (amount, interest rate, period, etc.). We recommend evaluating the parameters of other applications that have been placed on FinWhaleX - lenders choose the most profitable application for themselves. You can choose when to secure a loan application with collateral. There are two ways available. On the one hand, you can place a guaranteed loan application that is more attractive to creditors. On the other hand, you can transfer the amount of collateral required after the creditor receives your application. When placing a loan application, you need to pay a transaction fee of 0.5% of the loan amount depending on the loan period.
Lenders accept your loan application
All creditors guarantee to fulfill their obligations for applications received. After the lender accepts the application, FinWhaleX will generate a special multisig address where your collateral (bitcoin) will be stored until the end of the loan period. Each party only has one private key for multisig addresses. Multisignature (multisig) refers to requiring more than one Private key to authorize Bitcoin transactions. This guarantees that no one can access a guarantee that has only one Private key.
You return the loan within the term of the loan
After repaying the loan, you automatically return the deposit to yourself. Nobody can use your bitcoin until the loan is repaid - they are frozen in a special wallet. You cannot return a loan, if it is not profitable for you. If the bitcoin rate hasn't gone up or down, then you can refuse to pay back the loan. In this case, the guarantee only falls to the lender, and your loan obligations are paid off.
Platform token
FWX Token - token utility implemented
ERC-20 standard on the Ethereum blockchain.
Signage owners have access to the platform, improve credit scores, the ability to take loans and lend to other users.
All transactions on the platform will only be done via FWX tokens.
For example, issuing loans that are guaranteed by FWX tokens.
FWX tokens will allow holders to use the FinWhaleX platform to take loans and lend to others.
Security Token
After IEO, tokens will be available on major crypto exchanges. The platform's main functions will only be available for FWX tokens. Loan processing transactions will be carried out through the user's wallet on the FWX platform at FWX, thereby ensuring glass charging for purchases on third-party exchanges. Further partnerships with exchanges / platforms Digital goods will also be produced through FWX tokens.
- FWX is traded freely.
- Currency risks arise in a short time - in the transaction processing.
- Guarantees are valued in dollars, the loan amount is calculated in dollars.
- Commissions on the platform are formed in FWX tokens which can be saved or changed to Crypt / Fiat.
- In an Exchange scheme, it can be one exchange for all or different exchanges ... where FWX is traded. to ensure liquidity, Market Maker / Taker is needed.
- In addition to the platform commission, the lender / borrower will still have a fee - FWX conversion - there / back.
- The payment process is reversed, the borrower buys FWX and pays the loan, the platform gets a commission, the rest reaches the lender.
Token Information
Token Name: FinWhaleX
Symbol: FWX
Type: ERC20
Platform: Ethereum
Token distribution
Price: 0.015 USD Total Issues: 1,090,000,000 FWX Investor: 534.1 million FWX (8 million) 49% 200 million FWX - private (3 million) 334.1 million FWX - for the public (5 million) Team: 163.5 million FWX 15% Lawyers, lawyers, PR: 109,000,000 FWX 10% (3% - consultants / 2% - lawyers / 5% - PR) Reserves: 283.4 million FWX 26% Team tokens will be frozen in smart contracts for 27 months with the possibility of gradual withdrawal, 6,801,600 (4.16%) per month starting from 3 months after listing. Advisory / Ligal / PR tokens will also be frozen in smart contracts for 12 months with the possibility of gradual withdrawal, 10 090 000 10% per month starting from 2 months after listing.
Conclusion
Based on the data and facts seen, FinWhaleX is very good to be reviewed and invested. This is based on the reality for now, many projects are not good, and makes all those who invest a lot of questions about their certainty and truth, so if you want to invest in this project, you should read all about the article that I made, so you can find out more about this ICO project from them.
Contacts
Website: https://finwhalex.com/
Whitepaper: https://finwhalex.com/assets/WP_3.0.pdf
Facebook: https://www.facebook.com/FinWhaleX/
Twitter: https://twitter.com/FinWhaleX/
Telegram: https://t.me/finwhalex
Telegram bounty: https://t.me/FWXbounty
Instagram: https://www.instagram.com/finwhalex/
Author (thewoyo10)
Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=2346772
ETH : 0xBf48642AEd041fD1E800C52d51246ca0227b3426