March In Review — Post Sale Developments
Dear FintruX Community,
With this edition of our newsletter, we’d like to give you a look back into our very busy post-sale developments, exchange plans, and sharing not burning bonus (hint — it’s coming early!) and let you know about our exciting plans for the future.
FintruX Hits The Road
Toronto. On March 5–6th, we presented FintruX Network to hundreds of influential people at the 4th annual Fintech and Funding Conference! Canada is well known for being the market leader in financing, and we are proud to have many established players in the financing scene learn about our unique technology and approach.
Singapore. The FintruX team attended the Money2020 Asia conference from March 13th-15th. This year’s theme ‘The Future of Money’ brought together many global industry leaders to share new ideas and spark innovation. The conference attracted many payment and remittance companies boasting leading edge solutions across SEA. The team formed valuable partnerships, and we look forward to sharing them with the community in the following weeks to come.
Upcoming Event: Lendit — San Francisco
The FintruX team will be present at the annual LendIt Fintech Conference in San Francisco this April! LendIt is the world’s largest conference dedicated to blockchains with a focus on financial services. We’re excited to network with some up and coming blockchains, as well as share our innovative approach to financial loans.
Follow the FintruX team as they go around the world.
Partnership with traceto.io
We’re very proud to have traceto.io onboard as one of our service agency partners and we look forward to everything that we will be accomplishing together. Leveraging over 5 decades of experience in Compliance and RegTech, traceto.io is an ideal partnership as they align with our goals of bridging the gap between physical and virtual world processes. FintruX Network participants will be one of the first users of traceto.io decentralized Know Your Customer (KYC) network and services when it becomes available in Q4 2018.
We’re Hiring!
Interested in being a part of the expanding FintruX team? We are always looking for new talent to offer fresh ideas and grow our ecosystem. Be on the lookout for a new page on our website next week where we will be posting available positions with application instructions. We will also be releasing a form for potential borrowers and lenders who wish to participate in our alpha to use our platform on a daily basis.
Token Distribution
We are proud to announce that tokens have been fully distributed for all token sale participants and bounty campaigns. For detailed instructions on how to add our token to MEW/Metamask, please visit https://bit.ly/FTXToken.
Exchange Listings
After a thorough discussion with the exchanges, we have reached a joint agreement to temporarily delay our listing until the token market recovers. After listening to the response from our community, we feel that the general sentiment is to not list/unlock too early, and focus on quality. We have multiple reputable exchanges lined up for April, so pending market conditions, we will be updating our community on the exact timing of release.
Sharing Not Burning
Due to the delay of listing, we are fulfilling our promise to release the first batch of sharing tokens early. As stated in previous communications…
Once we reach 25M USD in contributions, we will end our Token Sale early and trigger our FTX sharing mechanism. This means that all original token holders will get an additional allotment of FTX proportional to the ETH contribution they made during our crowdsale.
Actual Scenario: The sale ended after reaching 25M USD (~22,105 ETH), with 39,503,157 FTX sold. This means that out of the 75,000,000 FTX crowdsale pool, additional 35,496,843 FTX (+89.9% bonus) will be shared proportionally to token sale contributors
These bonus tokens will be distributed in phases until our platform is operational in Q4 2018.
In order to ensure that our loyal supporters benefit the most from this mechanism, only those who opt to hold FTX in their whitelisted addresses at pre-defined distribution dates will be eligible to claim their proportional share of FTX reward — supporters who have less FTX than their original contribution will receive a proportion of their bonus.
The exact snapshot of the FTX for reference to the bonus distribution will be 1 week after token listing. We’re expecting token holders will be getting ~15% additional tokens.
Future emissions will be based on regular snapshots leading up to Q4 and there will be increasingly bigger bonuses given to those who hold the longest.
Once again, thank you very much for your commitment and support to our project.
The FintruX Team
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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