SOFIN Token Sale
SOFIN Token Sale
In Russia and many other countries, banks rarely lend to small and medium-sized businesses.Banks are a pawn shop towards small and medium-sized businesses, i.e. loans are given only if there is a bail that exceeds the body of a loan. The number of bails is strictly limited: in general, real estate or securities are accepted at the exchanges.
Therefore, HCMs are willing to take loans in accordance with the rates higher than the bank ones instead of the possibility of receiving money.In Russia, in the lending market, HCMs are claiming rates about 19% annual, but give 90% of the loans to large companies only. As a result, rates from 20 to 35% of annual in rubles have emerged in the P2P lending market, and there is an excess of unmet demand by the investors and borrowers.
In the USA, the average P2P-lending rate is 15% annual in USD. Bank rates are approximately 4-9%, but with the fee of 10-11%. The flexibility of the SOFIN system will adapt to any market in any country and normalize rates all over the world.
At the same time, SOFIN solves the second aim as well. Many people, especially in European countries, are looking for ways to save and multiply their savings.
Obviously, bank deposit is the least risky opportunity. But it hardly pays any income.Sometimes a deposit does not even yield zero profitability (the money is deposited), but a negative one (money is simply depreciated).
SOFIN will deal with the aim of investment profitability for Creditors by moving their investment to other corners of the world through the SOFIN platform.
Differences from Competitors
SOFIN's transaction storage system is more open than the first category. You can remember at least a scandal with Lending Club when the turnover of the company was artificially overstated.
SOFIN transactions are stored in a decentralized storage facility based on blockchain. There is also a powerful bonus model based on the private SOFIN token (more in the Smart Contract Structure section).
SOFIN benefit from the second category with the legal purity and transparency of each transaction. The loan is given in the fiat currency of the Borrower’s country according to the law. So the Creditor has a clear, legitimate reason to repay his loan.
In addition, SOFIN differ from both options with the existence of SOFIN's own guarantee fund, which reduces the risks of Creditors (more in the Guarantee Fund section).SOFIN give loans to both individuals and small and medium-sized businesses. For businessmen it can be both a business development loan and the one to start a new one. The main thing is to make the project viable.
The risk assessment methodology, including the startups, has already been tested in practice. For the startups it will also be a plus if the Borrower has already proven its reliability by taking and returning consumer loans. His ranking and history of consumer loans will be available to the system, and the chances of getting credit for business will grow significantly.
To encourage the operation of the service and to attract potential Creditors,the Guarantee Fund will be established on the website. Its aim is to cover the losses of Creditors in case of default of the Borrower.
The Fund’s services are available to both Borrowers and Creditors. Any of them may request a guarantee (surety) on the loan. However, this will be available for the Borrowers with high credit ranking and full verification.
|Crowdsale Opening Date||
341 days ago
|Crowdsale Closing Date||
328 days ago
ETH : 0x237706bfE11D4C4E148b4764c8f7Da37743657d4