It is a marketplace platform which brings together creditors and borrowers.
Visit SOFIN ICO site
Ended ICO : 15/01/18 – 15/03/18
SOFIN (social financial network) – the international fiat platform for P2P loans based on blockchain. It is a marketplace-exchange that brings together creditors and borrowers: loans are issued in the fiat currency of the country where the borrower resides. This allows the currency to be exchanged through the SOFIN token if the creditor and the borrower are from different countries. Loan terms are dictated by the market. Loans will be legally enforceable and all relevant documents will be generated in the jurisdiction of the borrower’s country
WHY DO WE NEED BLOCKCHAIN (protocol ERC 20) AND WHAT ARE THE BENEFITS OF THE SOFIN TOKENS?
- Transparency of all transactions performed on the platform.
- All system reporting can be verified.
- Automating processes through smart contracts
- It is convenient to work with cryptocurrencies at Ethereum ERC 20.
- Integration with other projects on blockchain (registers, scoring, statistical services).
- Reliability and fault tolerance.
A part of a loan (up to 20%) can be issued with tokens that the system will automatically buy and transfer to the fiat currency for the borrower. The integration of other cryptocurrencies with the possibility of issuing loans up to 100% will be pursued. Tokens can be used as an intermediate link in exchange of one fiat currency to another to issue loans in the currency of the borrower. Token holders will receive some advantages over ordinary users of the system (external differences in the service interface, more profitable bonus terms, etc.). Tokens can be bought/sold on exchanges. Direct correlation of the volume of the deals in the SOFIN platform with the token rate, as the entire fee is paid in SOFIN ICO, automatically bought on the exchange when the loan is performed.