Topic: [ANN][ICO] FintruX - Old Thread (Read 7762 times)

How to Contribute

Comprehensive guide for newbies here:
http://bit.ly/How-to-contribute-step-by-step-guide

To our supporters,

Our Public Token Sale will start on Feb 7th 2018 at 17:00 UTC at 5% bonus for early contributors.

Please make sure you follow the guidelines below for a safe, orderly, and successful sale:

- ALL Contributions will be done exclusively through of our official website and you must not trust any other website in order to avoid phishing scams;

- The FintruX Team will NEVER contact anyone directly requesting contributions;

- The FintruX Team will NEVER share an ETH Address other than on our official website;

- NO Bonus above 5% will be given at this stage;

- ONLY approved members will be able to view the smart contract address on https://www.fintrux.com/tokensale.aspx

- Participants who are NOT whitelisted will not be able to participate

https://medium.com/fintrux/how-to-contribute-d83980492f56

Yeah hopefully just a lot of investors who are interested in and join in the project. hopefully this project will evolve going forward in the future.

projects such as this online store may be in full swing, as seen from the purpose of this project seem to be attracting more investors to join the project.

This is a project that provides services, like an online shop in general, but its different combining with blockchain is a very interesting idea. I think a project like this will attract a lot of attention and get a satisfactory result.

Hungarian translation reserved if you need! Please Pm me if you interested. Regards, Cointrader83.

Hi Partizant, I am sorry for any confusion that this may have caused you! We moved the main thread because we have found someone to assist in posting a graphical ANN version. Unfortunately this account was unable to do so! We hope that our wonderful followers will continue their meaningful discussion in the new thread!

Hi,
Why did you move the main thread? It is getting confusion.

Hey all, thanks for all the support so far! New thread can be found here: https://bitcointalksearch.org/topic/annico-fintrux-old-thread-2169212

Thank you for your feedback, in the next few days we will be announcing the pre-sale information that will take place a month before the ICO. The pre-sale is open to people with immense interest in being the first users and investors on our platform. If you are interested in being a part of the pre-sale, please send us a message at https://www.fintrux.com/#contact-section

Polish ANN thread - https://bitcointalksearch.org/topic/ann-fintrux-zdecentralizowane-finansowanie-2142652

What is the used for having a long time ICO period implemented? while you can actually make the timer shorter and October is I think the ideal date to make this crowdfund works fine. And maybe people would forget this for long time around if this ICO project well implemented on November since there are so many good ICO starting these days.

Hi All,

Please feel free to check out our wireframe at https://www.fintrux.com/demo/borrower-dashboard.html.

Prototype to come in the following weeks! Stay tuned by following us on https://www.twitter.com/fintrux

perfect!! thank you to confirming it!!
i will schedule for that date to partecipate and follow!!!

Hi there,

The date has not been changed. It will run from the 8th of November to the 29th.

Hi all!!!
can you tell us if the ICO date is confirmed?
i read on White paper who will be from 8th of November to the 29th.
No change until now?
cheers.

Our bounty campaign is currently live! We currently have:
 
Facebook Bounties 
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and Creative Social Media Promotion 

For more information please take a look at the bounty thread at https://bitcointalksearch.org/topic/bountyico-fintrux-the-global-p2p-lending-ecosystem-2m-usd-prize-2101606

This one is interesting, so when all the bounties will be ready, and also what kind of bounties that will be available for everyone to follow?
Thanks.

Hi Kidbounty, thanks for asking this question. It's an important one, and one we believe we have solved. Fintrux tackles this specific issue on multiple fronts:

1. Prior to the loan
a) We verify the identity of all members by comparing supplied names, social security numbers,
addresses and telephone numbers against the names, social security numbers, addresses and telephone
numbers in the records of a consumer reporting agency, as well as other databases. Of course, this
information is not provided directly to the investor, but under a screen name.

The most important credit check we provide is a 'FICO' score. A FICO score is a numeric rating that ranges
between 300 and 850 that rates a person’s credit risk based
on past credit history and current credit situation. FICO scoring was developed by Fair Isaac Corporation.
FICO scores reflect a mathematical formula that is based on information in a consumer’s credit report,
compared to information on other consumers. Consumers with higher scores typically represent a lower
risk of defaulting on their loans. A borrower with a FICO score of 670+, our minimum credit score for
Standard Program Loans, is considered by credit providers to be a “prime” borrower.

b) We also have an option for the borrow to be associated with a guarantor and their bank accounts
will be withdrawn automatically to cover the delinquency.

Thus, along with our other borrower requirements (see our whitepaper section 2.5.1),
we calculate the risk for an investor to loan to this particular client.

In the end, the decision is completely up to the investor.

2. During the loan

After a 15-day grace period, the investor may, in his/her discretion, assesses a late payment fee. The
amount of the late payment fee is the greater of 5.00% of the unpaid payment amount or the equivalent
of USD$10.00, or such lesser amount as may be provided by applicable law. This fee may be charged
only once per late payment.

Investor may choose not to assess a late payment fee when a borrower promises to return a delinquent
Financing to current status and fulfills that promise. Investor may also work with a borrower member to
structure a new payment plan (refinance) in respect of the Financing with the consent of other investors
related to that Financing.

If a loan becomes overdue, investor may either refer the loan to an outside collection agent or to our inhouse
collections department. We generally use our in-house collections department as a first step
when a borrower member misses a payment. In the event that our initial in-house attempts to contact a
borrower member are unsuccessful, we generally refer the delinquent account to the outside collection
agent. Amounts equal to any recoveries we receive from the collection process are payable to investors
on a pro rata basis, subject to our deduction of our 1.00% service charge, if applicable, and an additional
collection fee. The investor is only charged the additional collection fee if the collection agency or we
are able to collect a payment.

Our collection process changes in the event of a borrower bankruptcy filing. When we receive notice of
the bankruptcy filing, as required by law, we cease all collection actions on the loan. The status of the
loan, which the relevant investors may view, switches to bankruptcy. We next determine what we
believe to be an appropriate approach to dealing with the borrower’s bankruptcy. If the proceeding
seeks liquidation, we attempt to determine if the proceeding is a “no asset” proceeding, based on
instructions we receive from the bankruptcy court. If the proceeding is a “no asset” proceeding, we take
no further action and assume that no recovery will be made on the Financing.

We file a proof of claim involving the borrower when permitted. The decision to pursue additional relief
beyond the proof of claim in any specific matter involving a borrower will be entirely within our
discretion and will depend upon certain factors including:
• if the borrower used the proceeds of a loan in a way other than that which was described in the
borrower’s application;
• if the bankruptcy is a Chapter 13 proceeding, whether the proceeding was filed in good faith and if
the proposed plan reflects a “best effort” on the borrower’s behalf; and our view of the costs and
benefits to us of any proposed action.

3. After the loan
To further enhance our offering, we will be integrating insurance policies into our platform. Investors (lenders)
will have the option to pay a small premium representing a percentage of the interest earned into an insurance pool.
If the loan holder defaults on their payment, the premium can be repaid from the insurance.

We are building a very strong team of lawyers and industry players that are well established in the financing industry.
We are very confident we can handle most, if not all situations because we simply have done it before. The only
difference now is that with the advent of new technology (Ethereum and no-code technology)
we can further automate administrative tasks to entirely cut out the middlemen and save everybody money and time.

Please let me know if this answers your query and I am happy to clarify any further questions you may have!

Feel free to take a look at our whitepaper to learn more.

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