Can you please explain me what is the difference between your project and Salt lending for example?
Also what would be the minimum cap to continue working on the project?
Looking forward to receive your answer
SALT lends in fiat currencies. It is a centralized loans platform for loans amount higher than US$5,000. It uses the smart contract only for depositing crypto currency as collateral. Their target market is borrowers with crypto currencies who don’t want to liquidate into fiat. Only Accredited Investors and qualified financial institutions can become lenders on SALT.
FintruX Network is a fully decentralized peer to peer platform generating and deploying one unique smart contract on the Ethereum blockchain for each individual lending. For unsecured loans, it uses credit enhancing tools such as over-collateralization, guarantors, cross-collateralization, and 5% of all FTX tokens to neutralize risk for lenders.
Our target borrowers are small businesses, especially startups, who wish to take advantage of lower rates offered by our platform because we make unsecured loans highly secure. Specialized agents on fraud, identity, credit scoring and decisions are partners in this ecosystem. Only accredited investors and financial institutions can become lenders on phase I of FintruX Network.
There are hundreds of marketplace lending platforms out there, we differ in that we enable borrowers to borrow at a significantly lower rate at ease and lenders lend with confidence in no time at all.
The team has pre-determined a minimum goal of 7,000 ETH that represents the runway necessary for the core FintruX platform to be finished and released with minimum functionality.
If the minimum goal is not reached by the end of the crowdsale duration, all contributed Ether will be marked for refund. Anyone who contributed, including those who purchased our tokens at presale, will be able to withdraw their Ether from the sale contract.
Hope this answers your questions!
