SOFIN (SOCIAL FINANCIAL NETWORK) —P2P-lending online service. It is a marketplace platform which brings together creditors and borrowers: (1) Creditor — private individuals, banks, microfinance organizations and funds; (2) Borrowers — private individuals, individual entrepreneurs and organizations 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.
About SOFIN
All competitors can be divided into two categories:
- Traditional P2P Lending (Lending Club, Zopa, bezbanka.ru, etc.)
- Loans in cryptocurrency (Everex, POLONIEX, Btcjam, etc.)
Our transaction storage system is more open than the first category. You can remember at least a scandal with Lending Club when the turnover of the company was artificially overstated.
SOFIN transactions are stored in a decentralized storage facility based on blockchain. There is also a powerful bonus model based on the private SOFIN token (more in the Smart Contract Structure section).
We benefit from the second category with the legal purity and transparency of each transaction. The loan is given in the fiat currency of the Borrower’s country according to the law. So the Creditor has a clear, legitimate reason to repay his loan.
In addition, we differ from both options with the existence of our own guarantee fund, which reduces the risks of Creditors (more in the Guarantee Fund section). We give loans to both individuals and small and medium-sized businesses. For businessmen it can be both a business development loan and the one to start a new one. The main thing is to make the project viable.
The risk assessment methodology, including the startups, has already been tested in practice. For the startups it will also be a plus if the Borrower has already proven its reliability by taking and returning consumer loans. His ranking and history of consumer loans will be available to the system, and the chances of getting credit for business will grow significantly.
Solution
Selecting the best terms of a loan, creating a legal package, and getting money online from any device!
Token SOFIN
PreICO Price 1 SOFIN = 0.5-0.8 USD
Price 1 SOFIN = 1-2 USD
Soft cap 9850000 USD
Hard cap 157850000 USD
Country Russia
Milestones
- 2010 Rostov region guarantee fund Creation of the structure that allows entrepreneurs to obtain the necessary funding through the fund's surety.In three years, the amount of bail was $51 million.
- 2011 Offline MFO Expressmoney Opening the network of microloan points where the verification of the borrower (private individual), the legal basis and the highly profitable financial model were obtained. The business was successfully sold.
- 2012 Opened the Verum law firm The company provides legal support for construction and investment projects, including foreign investment. The Verum ( verum-law.ru ) team of seven persons forms the Legal Service of the SOFIN company.
- 2013 Miming rigs, cryptotrading Creation of own mining rigs. Extensive experience in cryptocurrencies trade, investing in cryptoprojects.
- 2013 Opened the Elonsoft IT company Formation of a team with experience in the development of international-level Internet projects, including the creation of MVP for startups. There are 16 programmers now who will be working on the SOFIN platform after the ICO implementation
- 2014 Private P2P loans to entrepreneurs Since 2014 and to the present day, a successful experience of connecting people who have money and legal persons who need credit. The interest rate allows each party to earn. To date, there have been no returns. Currently, the loan portfolio exceeds $1.5 million.
- August 2016 P2P platform concept The idea of creating marketplace financial resources on a single window system where individuals and companies can get loans from any people,MFOs, banks. With a minimum and transparent rate in auction mode.
- August 2016 Launch of MFO Loan CLub Building a loan and verification system for borrowers online ( clubzaimov.ru ). Development of scoring software, integration with credit history systems and online processing. Gaining experience of attracting borrowers on the Internet. In this project, we've worked out all the important elements of a future P2P platform, and there are 14 people working in the company.
- July 2017 - to date Commencement of system development Definition of the development financial model. Designation of the technical part of the platform, the interface design, and programming of business logic.
- November 6, 2017 preICO Fundraising on completing the platform, the SOFIN token output on ICO, the white paper and business model adjustment based on feedback from investors and cryptocommunity.
- December 11, 2017 ICO Fundraising on development of the platform, the token output on exchanges, the establishment of the Guarantee Fund and international expansion.
- Q1 2018 Token on exchanges The SOFIN token public offering on the cryptocurrency exchanges for free bidding. Implementation of the token-support strategy and increase it to $20. The direct correlation between the rate growth and the repayment of loans on the platform is achieved through the return of the SOFIN tokens for the transaction bonus payments laid down in the platform
- Q1-2 2018 Launch of the platform in Russia and the Guarantee fund option The first issue of loans through the SOFIN platform from the MFOs partners, early followers, and our own funds. Once the guarantee fund has been launched and the risk of repayment has been reduced, it is planned to attract a large number of creditors.
- Q3-4 2018 Launch of the platfrom in the CIS countries Issuing loans in Russian-speaking countries, starting with Georgia and Kazakhstan and the next step in Ukraine and Belarus. In each country where we will issue loans, a local office will be opened to interact with the verification, scoring and credit history systems for the country. 100% legal purity, which is a distinctive feature of our platform, will be provided. In the same way, local partners in every country are planned for loans . The target of 2018 - 1$ million
- 2019 Launch of one country per quarter Great promise and growing market for P2P lending are concentrated in the regions: Asia, Africa and Latin America. The first countries outside the CIS in which we start lending will be Myanmar and Cambodia.
Team
- Andrey Tuchkov Chief executive officer Facebook
- Trofim Zhugastrov Chief product officer Facebook
- Nikita Lushpanov Chief blockchain officer VK
- Vitaly Slobodin Chief technology officer Facebook
- Anton Kruchko Chief legal officer Facebook
- Konstantin Ivanov Adviser
For more Informations:
Author: bakso.super
ETH: 0x0A39Baaa338F9F1f5f5b4e52f82095d0dD7c94D8
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