FintruX

The Global P2P Lending ecosystem powered by ethereum and no-code development.

About FintruX

FintruX Network aims to be an online, blockchain-based, financial service ecosystem connecting borrowers, lenders, and rated service agencies. FintruX aims to create and facilitate marketplace lending in a peer-to-peer network so as to ease the cash-flow issues of small businesses and startups.
Competitors: Peerform, Lending Club, Lending Tree, P2P-Credit, Prosper
Uniqueness/Advantages to competition: Creates a platform that streamlines legacy fiancial services via blockchain technology.

Token Sale Use of Blockchain

Product

2.6
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

2.0
N/A
2 - Some, but nothing outstanding.

Product

A demo platform is available for trial download on the FintruX website. The FintruX platform is scheduled to be further developed and publicly launched in the coming year (see Roadmap).
There is appeal to the Fintrux product, given the large need of financing for small-businesses and start-ups, which Fintrux aims to provide. The potential / target user-base is large, as it includes small businesses and start-ups in general. There is a large amount of legacy competition and competition over time will greatly stiffen as blockchain technology adoption continues, given the size of the target audience.
Competitors: Peerform, Lending Club, Lending Tree, P2P-Credit, Prosper

Product Whitepaper

Use of Blockchain

2.2
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

2.0
N/A
2 - Meh, okay.

Use of Blockchain

The project offers some contribution to blockchain development as it has developed its own platform for financial services, specifically peer-to-peer unsecured loans for small business and start-up financing. There is a disruptive advantage as, in theory, it would enable further decentralization of centralized lending platforms such as Peerform, Lending Club, Lending Tree, P2P-Credit, Prosperil, etc. Pontentially disruptive since such applications are currently completely centralized. There is need for a custom token as the platform is an independent platform, however in theory ETH alone could accomplish this as well with the necessary smart contracts.

Use of Blockchain Roadmap

Whitepaper

4.2
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.

Whitepaper

The whitepaper is displayed in a slide show format, however it is very well put together, professional and aesthetic, and contains a good blend of media and textual explanation. Somewhat long at 49-pages, the document can nevertheless be read through very quickly due to the amount of presented media. Sections include: strategy, market overview, the problem, the solution, the business model, key features, the technology, risks, use-cases, the roadmap, the ICO, and the team. The business plan and technology behind FintruX are explained thoroughly, concisely yet in detail. References are provided at the end of the paper.

Whitepaper Compliance

Roadmap

3.0
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Down to earth.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

2.0
N/A
2 - Riding the current wave.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.

Roadmap

A clear vision is set in the roadmap and given on a quarterly basis, starting with ‘Ethereum R&D’. Critical obstacles lie ahead with necessary team hiring/expansion, alpha and beta testing to be done after the ICO, as well as further network development and a final release scheduled for Q4 2018. The roadmap is fairly detailed and provides brief descriptions of what intermediate steps are required to complete each milestone.
Important Milestones:
Q2 2017 – Ethereum R&D; Dapp R&D
Q3 2017 – Concept Validations; Whitepaper Ready; Tokenization
Q4 2017 – Focused Practice; Wireframe Ready, Partnerships
Q1 2018 – Prototype Ready; Open Source; Funding (ICO); Team Expansion
Q2 2018 – Alpha Test; Real Customers
Q3 2018 – Beta Test; Network Development; Service Organization; Marketing; General Availaiblity
Q4 2018 – Go to Market: Scale the Platform; Extension

Roadmap Company and Team

Compliance

3.2
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.

Compliance

The FTX-token has intrinsic value through its planned usage on the FintruX platform, giving users acess to a peer-to-peer financial services marketplace. The token’s main utility is as a tradable financial instrument, as it is used specifically for finacial services and participation rewards, but also allows for platform interaction.
The token smart-contract infrastructure will be completed after the ICO, however there is currently a demo available on the website.
Compliance is addressed with direct statements of AML & KYC Due Diligence and enforced with a registration whitelisting process and manual screening of all platform registrants. Explicitly states “Residents of the following countries are not eligible to participate in the token sale: Afghanistan, Belarus, Bosnia and Herzegovina, Canada, Central African Republic, Crimea, Cuba, Democratic Republic of the Congo, Democratic People’s Republic of Korea (Commonly known as North Korea), Eritrea, Ethiopia, Egypt, Guinea-Bissau, Hong Kong SAR, Iran, Iraq, Libya, Lebanon, New Zealand, People’s Republic of China, Somalia, South Sudan, Sudan, Syria, Sri Lanka, Tunisia, Uganda, United States of America, Vanuatu, and Yemen”
The legal review and terms and conditions of the sale are detailed, professional, and thorough, aiming to absolve the company of any liability regarding the ICO and any problems that may occur, and providing a general statment that the tokens are not to be deemed a security.

Compliance Token Sale

Company and Team

3.8
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Company and Team

FintruX has an established team with 11 employees and 10 advisors.
The core team has experience in financial services, analytics, blockchain development, front end design, computer network architecture, law, computer science, and neuroscience.
The advisors have backgrounds in AI, tech development, business, law, computer science, financial services, investing, cryptocurrency and blockchain projects.
Almost all team members have verifiable work experience credentials via LinkedIn profiles, some have links to Github accounts, and some have links leading directly to other business profiles. Some members of the team are fully dedicated to the project, while others are also dedicated to multiple projects outside of FintruX. One core team member and a few advisors have previous experience with blockchain, cryptocurrency, or smart-contract projects and ICO consultation.
Positives: The core team is well rounded and has a committed blockchain developer with previous experience, as well as advisors with previous blockchain, cryptocurrency, or smart contract experience.
Negatives: Not all members are fully dedicated to the project.

Company and Team Product

Token Sale

3.0
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

2.0
N/A
2 - Use of funds only loosely defined.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

2.0
N/A
2 - Unclear or suspicious.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.

Token Sale

FintruX Token (FTX)
Total Supply: 150 Million FKX, 89.25 Million for Token Sale
Hard cap: $25 Million
Soft cap: 5,000 ETH (Achieved)
Token Distribution
ICO 75%
FintruX Reserve 10.0%
Team 10.0% – 12-month lock period
Collateral Reserve 05.0%

Token Proceeds Budget
40% Core Development
25% Operational
25% Marketing and Sales
10% Leagal and Compliance

TOKEN SALE BONUS MODEL
Tier # of ETH # of FTX Bonus FTX Per ETH
1 +2,000 +3,150,000 5.0% 1 ETH 1,575 FTX
2 +3,500 +5,383,000 2.5% 1 ETH – 1,538 FTX
3 +7,000 +10,626,000 1.2% 1 ETH – 1,518 FTX
4 +12,000 +18,108,000 0.6% 1 ETH 1,509 FTX
5 Remaining FTX 0% 1 ETH 1,500 FT

Social Media Presence & Following
There is some and growing community engagment and reception.

Product

A demo platform is available for trial download on the FintruX website. The FintruX platform is scheduled to be further developed and publicly launched in the coming year (see Roadmap).
There is appeal to the Fintrux product, given the large need of financing for small-businesses and start-ups, which Fintrux aims to provide. The potential / target user-base is large, as it includes small businesses and start-ups in general. There is a large amount of legacy competition and competition over time will greatly stiffen as blockchain technology adoption continues, given the size of the target audience.
Competitors: Peerform, Lending Club, Lending Tree, P2P-Credit, Prosper

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

2.0
N/A
2 - Some, but nothing outstanding.
Product Score:
2.6

Use of Blockchain

The project offers some contribution to blockchain development as it has developed its own platform for financial services, specifically peer-to-peer unsecured loans for small business and start-up financing. There is a disruptive advantage as, in theory, it would enable further decentralization of centralized lending platforms such as Peerform, Lending Club, Lending Tree, P2P-Credit, Prosperil, etc. Pontentially disruptive since such applications are currently completely centralized. There is need for a custom token as the platform is an independent platform, however in theory ETH alone could accomplish this as well with the necessary smart contracts.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

2.0
N/A
2 - Meh, okay.
Use of Blockchain Score:
2.2

Whitepaper

The whitepaper is displayed in a slide show format, however it is very well put together, professional and aesthetic, and contains a good blend of media and textual explanation. Somewhat long at 49-pages, the document can nevertheless be read through very quickly due to the amount of presented media. Sections include: strategy, market overview, the problem, the solution, the business model, key features, the technology, risks, use-cases, the roadmap, the ICO, and the team. The business plan and technology behind FintruX are explained thoroughly, concisely yet in detail. References are provided at the end of the paper.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

4.0
N/A
4 - Easy to read and understand.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.
Whitepaper Score:
4.2

Roadmap

A clear vision is set in the roadmap and given on a quarterly basis, starting with ‘Ethereum R&D’. Critical obstacles lie ahead with necessary team hiring/expansion, alpha and beta testing to be done after the ICO, as well as further network development and a final release scheduled for Q4 2018. The roadmap is fairly detailed and provides brief descriptions of what intermediate steps are required to complete each milestone.
Important Milestones:
Q2 2017 – Ethereum R&D; Dapp R&D
Q3 2017 – Concept Validations; Whitepaper Ready; Tokenization
Q4 2017 – Focused Practice; Wireframe Ready, Partnerships
Q1 2018 – Prototype Ready; Open Source; Funding (ICO); Team Expansion
Q2 2018 – Alpha Test; Real Customers
Q3 2018 – Beta Test; Network Development; Service Organization; Marketing; General Availaiblity
Q4 2018 – Go to Market: Scale the Platform; Extension

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Down to earth.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

2.0
N/A
2 - Riding the current wave.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.
Roadmap Score:
3.0

Compliance

The FTX-token has intrinsic value through its planned usage on the FintruX platform, giving users acess to a peer-to-peer financial services marketplace. The token’s main utility is as a tradable financial instrument, as it is used specifically for finacial services and participation rewards, but also allows for platform interaction.
The token smart-contract infrastructure will be completed after the ICO, however there is currently a demo available on the website.
Compliance is addressed with direct statements of AML & KYC Due Diligence and enforced with a registration whitelisting process and manual screening of all platform registrants. Explicitly states “Residents of the following countries are not eligible to participate in the token sale: Afghanistan, Belarus, Bosnia and Herzegovina, Canada, Central African Republic, Crimea, Cuba, Democratic Republic of the Congo, Democratic People’s Republic of Korea (Commonly known as North Korea), Eritrea, Ethiopia, Egypt, Guinea-Bissau, Hong Kong SAR, Iran, Iraq, Libya, Lebanon, New Zealand, People’s Republic of China, Somalia, South Sudan, Sudan, Syria, Sri Lanka, Tunisia, Uganda, United States of America, Vanuatu, and Yemen”
The legal review and terms and conditions of the sale are detailed, professional, and thorough, aiming to absolve the company of any liability regarding the ICO and any problems that may occur, and providing a general statment that the tokens are not to be deemed a security.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

2.0
N/A
2 - Primarily, with few additional rights.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.
Compliance Score:
3.2

Company and Team

FintruX has an established team with 11 employees and 10 advisors.
The core team has experience in financial services, analytics, blockchain development, front end design, computer network architecture, law, computer science, and neuroscience.
The advisors have backgrounds in AI, tech development, business, law, computer science, financial services, investing, cryptocurrency and blockchain projects.
Almost all team members have verifiable work experience credentials via LinkedIn profiles, some have links to Github accounts, and some have links leading directly to other business profiles. Some members of the team are fully dedicated to the project, while others are also dedicated to multiple projects outside of FintruX. One core team member and a few advisors have previous experience with blockchain, cryptocurrency, or smart-contract projects and ICO consultation.
Positives: The core team is well rounded and has a committed blockchain developer with previous experience, as well as advisors with previous blockchain, cryptocurrency, or smart contract experience.
Negatives: Not all members are fully dedicated to the project.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
Company and Team Score:
3.8

Token Sale

FintruX Token (FTX)
Total Supply: 150 Million FKX, 89.25 Million for Token Sale
Hard cap: $25 Million
Soft cap: 5,000 ETH (Achieved)
Token Distribution
ICO 75%
FintruX Reserve 10.0%
Team 10.0% – 12-month lock period
Collateral Reserve 05.0%

Token Proceeds Budget
40% Core Development
25% Operational
25% Marketing and Sales
10% Leagal and Compliance

TOKEN SALE BONUS MODEL
Tier # of ETH # of FTX Bonus FTX Per ETH
1 +2,000 +3,150,000 5.0% 1 ETH 1,575 FTX
2 +3,500 +5,383,000 2.5% 1 ETH – 1,538 FTX
3 +7,000 +10,626,000 1.2% 1 ETH – 1,518 FTX
4 +12,000 +18,108,000 0.6% 1 ETH 1,509 FTX
5 Remaining FTX 0% 1 ETH 1,500 FT

Social Media Presence & Following
There is some and growing community engagment and reception.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

2.0
N/A
2 - Use of funds only loosely defined.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

2.0
N/A
2 - Unclear or suspicious.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.
Token Sale Score:
3.0

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