SOFIN's Mission Is To Remove Barriers And Constraints

Author (doblok)

Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1035549

ETH: 0x45CC001673969f7a5e77ab858BaD85d650427227

SOFIN (social financial network) is an international platform for P2P lending based loans. This is a market exchange that unites creditors and borrowers: Loans are given in the currency of the country where the borrower lives. In this case, the currency can be redeemed through a SOFIN token if the creditor and borrower are from different countries.

SOFIN's mission is to remove barriers and constraints, to provide access to financial resources for less developed countries while at the same time helping to preserve and increase its capital.

What is achieved at this stage:

The financial model is fully developed;

Establish a package of legal documents for the issuance of loans;

Interface design is designed;

The application's business logic is realized by 45%.

What is the difference between competitors?

All competitors can be divided into 2 categories:

Giving p2p in the traditional way (Lending Club, Zopa, bezbanka.ru, etc.)

Loans in crypto currency (everex, poloniex, btcjam, etc.)

Compared to the first category, our transaction storage system is more open. In SOFIN, transactions are stored in decentralized stores based on blockchain. There is also a strong bonus model based on the SOFIN token itself.

From the second category we are very different in the purity and transparency of every transaction law. The loan is made in fiat currency strictly in accordance with the laws of the borrowing country. Thus, the Lender has clear and valid reasons for the repayment of the loan.

In addition, we differ from both options by having our own Guarantee Fund, which reduces the risk of Creditors (more details in the Guarantee Fund section).

What's the blockade for that?

• Transparency of all transactions on the platform;
• All system reports can be checked;
• Automation of the process through smart contracts;
• It's easy to work with crypto currency in Ethereum ERC 20;
• Integration with other projects for blocking (registrants, appraisals, statistical services);
• Reliability and fault-tolerance.

• Token price at ICO 1 SOFIN = 2 USD
• Pre-ICO 06.11-09.12
• ICO 11.12-24.12

How the platform will work

What guarantee is given to the creditor?

To stimulate service and attract prospective Creditor, Guarantee Fund will be established on location. Its job is to cover the Lender's losses in case of default from the Borrower.

There are three levels of warranty:

• The first rate guarantee is 100% of the loan amount. This system replaces 100% of the loan amount within 7 days from the date of receipt of the request from the Lender;
• The second level guarantee is 75% of the loan amount. This system replaces 75% of the loan amount within 14 days from the date of receipt of the request from the Lender;
• The third level guarantee is 50% of the loan amount. This system replaces 50% of the loan amount within 30 days from the date of receipt of the request from the Lender

P2P Credit Market

Auction

How does the SOFIN Platform work?

.

Money Problems

Smart Contract

Complete the borrower's account and pay a 9% fee to the platform, automated document transactions for all parties.

Return the Loan

Smart Contract

Completing the creditor account.

Rate Token

P2P system needs to pay token payment to the borrower. Therefore, there will be a token buyback plan from the exchange and will start after the project runs.

The more P2P service turnover, the more bonus and cashback tokens will be needed, and the more active ones will be purchased from the service token from the exchange. With a direct correlation of this volume, service growth requires a growth rate.

Our team has an immediate interest on the growth rate because it will receive additional funds when the $ 20 token is achieved with a new wave of token sales through smart contracts.

Major service members will tend to store their tokens in disitem, not to sell them in the bour to obtain additional privileges.

We will also be token holders interested in investment growth. 9,000,000 tokens will be directed to the initial operation of the system, payment for the prize / gift, founder, escrow, advisor, (10% of 90,000,000 SOFIN emissions).

Roadmap

For More Information Visit

• ANN Thread: https://bitcointalk.org/index.php?topic=2257607.0
• Website: https://sofin.io/
• Whitepaper: https://drive.google.com/file/d/0B-Mzf44S_dQMeEliOWhodUVDZTg/view
• Twitter: https://twitter.com/sofinplatform
• Facebook: https://www.facebook.com/sofinplatform
• Telegram: https://t.me/sofin - https://t.me/sofin_ru
• Medium: https://medium.com/@sofinplatform