GN COMPASS
Peer-to-peer Cryptocurrency-Backed Lending platform
for peace of mind, worry free investing
WEBSITE / WHITE PAPER / TELEGRAM / TWITTER / FACEBOOK / MEDIUM / REDDIT / SLACK
Official GN Compass Bounty campaign: 10,000,000 GNCT Tokens (~$3,000,000 USD) are waiting for you!
https://bitcointalksearch.org/topic/bounty-gn-compass-official-bounty-campaign-thread-ito-jan-29th-2708667
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ICO CAPS
Softcap: $500,000 USD (achieved)
Hardcap: $14,000,000 USD
TOKEN SALE: 29.01 - 30.04
Pre-Sale 1st Round: 29.01 – 04.02 | 1 GNCT = $0.14 USD
Pre-Sale 2nd Round: 05.02 – 11.02 | 1 GNCT = $0.20 USD
Pre-Sale 3rd Round: 12.02 – 28.02 | 1 GNCT = $0.25 USD
Main-Sale : 09.04 - 30.04 | 1 GNCT = $0.30 USD
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PROBLEMS
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for peace of mind, worry free investing
WEBSITE / WHITE PAPER / TELEGRAM / TWITTER / FACEBOOK / MEDIUM / REDDIT / SLACK
Official GN Compass Bounty campaign: 10,000,000 GNCT Tokens (~$3,000,000 USD) are waiting for you!
https://bitcointalksearch.org/topic/bounty-gn-compass-official-bounty-campaign-thread-ito-jan-29th-2708667
========================================
ICO CAPS
Softcap: $500,000 USD (achieved)
Hardcap: $14,000,000 USD
TOKEN SALE: 29.01 - 30.04
Pre-Sale 1st Round: 29.01 – 04.02 | 1 GNCT = $0.14 USD
Pre-Sale 2nd Round: 05.02 – 11.02 | 1 GNCT = $0.20 USD
Pre-Sale 3rd Round: 12.02 – 28.02 | 1 GNCT = $0.25 USD
Main-Sale : 09.04 - 30.04 | 1 GNCT = $0.30 USD
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Other Languages
(Links will be updated after the translation)
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(Links will be updated after the translation)
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| . | • Korean : (ANN, Whitepaper) • Indonesian : (ANN, Whitepaper) • Dutch : (ANNANN, Whitepaper) • Thai : (ANN, Whitepaper) • Polish : (ANN, Whitepaper) • Filipino : (ANN, Whitepaper) | • Japanese : (ANN, Whitepaper) • Vietnamese : (ANN, Whitepaper) • Italian : (ANN, Whitepaper) • Danish : (ANN, Whitepaper) • Russian : (ANN, Whitepaper) • Arabic : (ANN, Whitepaper) | • Spanish : (ANN, Whitepaper) • Romanian : (ANN, Whitepaper) • Bulgarian : (ANN, Whitepaper) • Greek : (ANN, Whitepaper) • Turkish : (ANN, Whitepaper) • Ukrainian : (ANN, Whitepaper) | • German : (ANN, Whitepaper) • Portuguese : (ANN, Whitepaper) • Slovenian : (ANN, Whitepaper) • Hindi : (ANN, Whitepaper) • French: (ANN, Whitepaper) • Chinese Simplified : (ANN, Whitepaper) |
PROBLEMS
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Even with the internet and modern technology, loans remain very similar to their origins with big banks and gate keepers leveraging majority of the value.
This causes three large issues within the modern-day loan industry:
1. Centralized structures that lack transparency;
2. Low liquidity of notes and securities;
3. One-dimensional credit scores that only aggregates and analyzes public consumer data.
SOLUTIONS
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GN Compass provides Cryptocurrency-Backed Loans™ to create constant liquidity in the lending market. This is accomplished by allowing investors to sell portions of loans in their portfolio. Investors are not locked in to the term of a loan and can liquidate loans for any reason (E.g. financial hardship, increased GNCT price etc.) only after a certain no-trade time period has been reached.
The buying investors will reap the benefit of the loans being paid back by borrowers while the selling investor still makes a profit. By using blockchain technology to verify and distribute all transactions across the Ethereum network, it guarantees transparency.
HOW IT WORKS
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For Lenders
Investors simply sign up and create their profile and investment portfolio. The investment portfolio page will ask the Investor about their investment goals such as retirement planning, preferred repayment cycle (e.g. To have investment re payments deposited to their account on a certain day per month). This is where they will input the amount they are looking to invest and the interest rate they are looking to receive plus the length of time they are looking to invest for.
Once the profile is complete and the Investor is happy with their investment settings, they will then be required to add their banking information into our secure payment system. From there, the Investor will be assigned a secure digital wallet attached to their bank account where all the transfers and payments will be made. The Investor investments will then be sent to a loan pool to fund loans. When loans are being repaid the GNCT backing the loans will be adjusted accordingly.
For Borrowers
Borrowers will sign up by creating a username, password and completing a profile page. They will also have the option to sign up using their Facebook account, which will enable GN Compass to connect and pull basic information from their Facebook profile.
Once the Borrower has successfully completed their profile and all required documents have been submitted and processed, a risk assessment will be done and the borrower willbe given a risk rating. The loan amounts will range from $1,000.00 to a maximum of $50,000.00 with an interest rate from 3.99% to 11.99%. If their risk rating is within our parameters, they can proceed with their application. If their risk rating is beyond our parameters, they will be declined and required to reapply in three months.
Approved borrowers will fill out a loan application (aka smart contract), which will ask how much they want to borrow, loan length (e.g. six months, one year, three years etc.) and loan repayment cycle (e.g. to have automatic withdrawals from their account on a certain day per month). Loan requests will be sent to a pool of other loan requests with the same credit rating where Investors' funds will fund the loans.
Borrowers are required to pay balance protection insurance on loans. The insurance amount is a percentage of the outstanding balance. The percentage is determined by the borrower's risk rating.
GN Compass Credit System
Our credit system will use traditional credit scores, mobile data and social media analytics to assess risk and assign a GN Compass credit rating from A+ to B. Other factors assessed to determine a borrowers GN Compass credit rating will be occupation, military service, volunteer work, credit history, debt-to-income ratio and income. This information will give us more detailed picture of our borrowers.
Microloans
In the future, we wil offer micro loans to higher risk borrowers. These borrowers will be assigned a GN Compass credit rating of C+ to D, and receive loans from $150 to $1000 at interest rates from 13.99% to 16.99%. These borrowers wil also have the opportunity to improve their credit rating with good payment history.
Compass Token (GNCT)
Al loans will be backed by Compass tokens (GNCT). The tokens wil represent the amount invested. This does not include the potential interest amount the Investors wil receive. If Borrowers default on a loan over a certain period, the tokens will be automatically exchanged and the fiat currency the Investor originally invested with (e.g. US dollars) will be deposited into the Investors' walet. The Investor can then choose to reinvest or transfer funds from their wallets back into their bank accounts.
Transferability of Tokens
What makes GN Compass unique is that Investors can sell loan portions or their entire loan portfolio to another person.
If an Investor wants to sell a portion on their loan to a new buyer(s), their information will be attached to the smart contract along with the Sellers. The percentage of the tokens sold will determine the percentage of the investment and interest that will be divided among the seller and buyer(s).
If the seller sells all their tokens, the smart contract will replace the seller's information for the buyers, and all the proceeds of the seller's former investment (plus interest) will go to the new buyer(s). The new buyer(s) would have to be registered as a token buyer or an Investor on our system and have a wallet with us.
Introduction Video
ADVANTAGES
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| . |  Borrowers are funded 10x faster than banks Jump to:
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