April in Review — Our Next Step
Dear Community,
A lot has happened this last month and we are delighted to give you a review on all the exciting updates surrounding our project. We will cover our exchange listings, media mentions, events we participated in, and announced partnerships. Last but not least, we will cover our first ‘sharing not burning’ event in more detail, so everybody involved will understand how they can claim their bonus after the snapshot has been taken.
Exchange Listings
Our targeted lenders on the platform are to be reputable financial institutions, such as banks and insurance companies. As credible institutions, they must follow strict regulatory guidelines whenever they support or participate in a new venture.
In the past few months, we have spent a lot of time speaking to regulatory bodies and the top legal minds of Singapore to confirm that listings on particular exchanges that are regulated and follow strict KYC procedures would not affect the security ruling that FTX is an utility token. We have an obligation to our institutional partners to be confident in the legalities of our platform.
After going through our options, we successfully listed on three exchanges in our first week of unlocking…
We pride ourselves with working with exchanges that ensures the growth and the success of our ecosystem. These exchanges provides access points to future utility token use cases on our platform; such as, cross-currency loan facilitation, easy access to FTX via credit card, etc. Presently, our partnership with Bancor enables us to allow easy buy and sell of our token directly on our website via metamask — look forward to this change being pushed out on our website!
We are already in discussions with all major exchanges in terms of trading volume and users to work out the specifics of our partnership arrangements. Our goal is to successfully build a robust and sustainable platform, and to provide clear use cases for the FTX token as we reach widespread adoption. Stay tuned for more good news to come!
Notable Media Mentions
This past month we joined the Senior VP of Operations at QUOINE, Seth Melamed in an AMA. In our discussion, we answered community-sourced questions in regards to the FTX token and shared our grand vision with a wider community.
In addition,we have been covered on major cryptomedia publishers such as Hackernoon and Coincryptonews. The Coincryptonews article, “FintruX Network; Helping Small Businesses and Start-Ups Prevent Cash Flow Problems Using Blockchain,” stated that “They are a well thought through company with a lot of good ambitions for the start-up sector.”
Events and Partnerships
Besides being mentioned in the media, we are actively bringing FintruX to broader communities by attending a lot of high-profile events. The FintruX team was present at the annual LendIt Fintech Conference in San Francisco, the world’s largest conference dedicated to financial services. We were ecstatic to share our innovative approach to financial loans and succeeded in networking with an ever-expansive group of potential partners.
Participating in the Global Inclusive Blockchain conference in Singapore, we shared our vision and our aims to revolutionize the financial loan system. Inspired by our community focused objectives, a partnership was formed with Sentinel Chain (SENC), a promising blockchain based B2B marketplace that empowers the unbanked. We share a collective purpose to aid small-business owners in maintaining their businesses through adversity, and providing them opportunities to prosper.
This partnership will be the first of many more to be announced, as we will be revealing additional ecosystem participants, especially those intimately involved in our internal alpha servicing 12 borrowers and lenders in Q3 2018.
Presently, Nelson and Conrad are on an expansive tour around Europe to share our vision, speak to potential partners, and explore further opportunities. Over our journey, we have had the pleasure of meeting enthusiastic supporters of the FintruX Network, and we are looking forward to meeting more of you at the Consensys Blockchain Technology Summit in New York on the 14th-16th of May.
Stay updated on where the team will be next!
First Batch of Sharing
Our snapshot will be on May 4th, 2018 at 17:00 UTC to determine the amount of FTX each crowdsale participant is holding in their whitelisted wallet (this is the wallet that you initially contributed from towards the crowdsale).
A reminder that the first distribution is to be 5,925,473.55 tokens, meaning that all original token holders will be able to claim up to +15% bonus. Supporters who have less FTX in their wallets than their original contribution will only receive a proportion of their bonus. The remainder will effectively be named “unclaimed tokens”.
New holders and token holders who have extra tokens will be involved in a later airdrop, as any unclaimed tokens will be used by the platform for the benefit of the community (airdrops to all FTX/partner tokens holders, incentive programs, partnerships, marketing, etc.). The exact number and method for this airdrop will be announced after we calculate how many tokens are left unclaimed, but you can be sure that it will be to the benefit of every token holder of FTX.
You can read more about sharing here.
Claims will start on May 9th, 2018 at 17:00 UTC. Claims have no expiring date, but once the snapshot begins, your bonus will be set to the proportion of FTX held in the whitelisted wallet on May 4th, 2018 at 17:00 UTC. Any additional sharing will take place periodically until the platform is operational in Q4. You can follow our platform roadmap here.
With three exchange listings in a week, the first batch of sharing arriving soon, and increased media attention — we are embarking on an exciting new phase for the FintruX Network. We hope to announce exciting news with the community as we continue to advance and further evolve our platform.
About us: FintruX Network is the global P2P lending ecosystem powered by blockchain and no-code development. FintruX facilitates marketplace lending in a true peer-to-peer network to ease the cash-flow issues of SMEs that typically face challenges getting loan financing, such as startup companies.
Find us on our: Website ; Twitter ; Facebook ; Reddit; LinkedIn
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