FintruX Token: FTX

cryptotipsbydada
Feb 5, 2018
3 min read

Updated: Feb 18, 2018

Source: FintruX Whitepaper

The FintruX token or FTX will be the ticket to the FintruX lending platform.

FintruX Network is a multi-sided platform and ecosystem that delivers value not just to borrowers and lenders, but also to guarantors and agencies.

The lender will deposit funds and choose a credit decision package provided by one of the rated agencies; which include recommended fraud, identity and credit scoring agencies.

Borrowers filter criteria based on available funding parameters and are instantly matched to appropriate lenders. Borrowers can be represented by affiliate marketing agency partners.

FTX Tokens serve several key functions in FintruX ecosystem:

• Transaction execution reward

• Token collateralization reserve

• Rewards for good behavior

• Punishment for bad behavior

• Reward for providing information

• Platform access

• API license

The FTX Token is used to power the FintruX Network and works as a means to reward or get rewarded for participation in the marketplace.

FTX is transferred from one participant to another as activities are carried out on the FintruX Network.

FintruX Network will be rewarded a fee subsequent to executing these activities. Ownership of FTX Token carries no rights other than the right to exchange and claim over the platform. FTX does not represent or confer any ownership right or stake, share or security or equivalent rights, intellectual property rights or any other form of participation relating to the FintruX Network.

Over the course of their operation, it collects FTX tokens as fee where FintruX will continuously sell the tokens back to participants to maintain the token economy and finance the operation.

The Power of FintruX

FintruX receives FTX tokens as matching fee from both borrowers and lenders, generating demand for FTX while guarantors receive incentive pay in FTX Tokens, further generating demand for FTX.

In the third scenario, collateralization pools goes up10 times in value over the

term of the loan.

In this case even if all the loans are defaulted, this cross-collateralization pool

can cover all default losses of all loans. The risk for the lenders is neutralized.

This can happen in many ways including:

1. Wise investment in short term-deposits matching the maturity of each obligations; and

2. Continuous injection of overcollateralization from new loans; and

3. Etc.

in the fourth scenario, guarantors fail to deliver their promises and there are too many bad loans. In this case, 5% of all FTX Tokens has been reserved

to cover these overflow losses when all previous cascading credit enhancers fail

unexpectedly. This is the ultimate protection.

CROWDSALE

FTX will be issued at the start of our sale. Once completed, no further tokens will be generated.

According to FintruX official information, 10,000,000 FTX (10% of total supply) will be available to contributors in our private sale prior to public pre-sale based on a purchase & sales agreement. The unsold FTX during the private sale will be available for sale in the public sales.

Their team has pre-determined a minimum goal of 5,000 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 their tokens at presale, will be able to withdraw their Ether from the sale contract provided that the minimum goal has been reached, any tokens not sold in the crowdsale will be distributed to all contributors.

Click here to know more about FintruX ICO : Token Sale

To know more about Fintrux Network, visit here: FintruX website