FintruX ICO is Doing It Right: 3 Exchange Listings In the Same Week and 1 Million Trading Volume At…

I wanted to do a follow up on my original FintruX research article. I should disclose that I did personally participate in this ICO, but I have participated in many and have not done follow up articles about those. Here’s why I think FintruX deserves extra recognition:

The race to become the next hot crypto is well underway, and one project that appears to be nudging up the ladder is FintruX. The initial buzz surrounding FintruX’s ICO had investors all over the world excited, and despite a few ups and downs since its launch, the FintruX token (FTX) was listed on 3 different exchanges in the same week.

As a result, FTX is now pulling in impressive stats that show promise of a successful future.

In their first week of token unlock, FintruX managed to get listed on no less than 3 exchanges: Qryptos, Bancor Network and HitBTC. Furthermore, since these listings, FTX has already reached a daily volume of 1M USD (at it’s peak); a huge milestone for any project coming fresh off an ICO, and shows the team’s true capabilities and strong work ethic in addition to their tremendously engaged and supportive community.

With little impeding the future growth of FintruX, and proof that the team has what it takes to overcome the wide range of hurdles that can arise at any moment, those who have chosen to pass on monitoring this promising new crypto may now be persuaded to do so.

What is FintruX?

FintruX is a revolutionary new ethereum-based peer-2-peer lending ecosystem that promises to disrupt the market-particularly for small businesses and startups.

Their overall goal is provide to affordable loans that make it easier for small business owners to get funding for their company’s cash flow. By employing a unique architecture built upon blockchain technology, FintruX enables cheaper, safer loans that can also provide revenue opportunities for third party backers.

Lenders are notorious for levying high interest rates and employing strict criteria that make borrowing an issue for many start-ups and SMEs. Decentralized blockchain networks have the capability to change these expensive lending practices by cutting out the legacy systems and middleman services that charge extortionate rates for out-of-date services.

One of the major features of FintruX is the networks risk reduction protocol that employs overcollateralization for additional security. A third party guarantor then enters into the agreement to take over the default risk for an incentivization fee derived from the maturity risk profiles. The overcollateralization funds are deposited in pools, which serve to cover other bad loans. Using this system, 5% of all FintruX tokens are reserved to protect against unforeseen problems.

Organizing the network in such a manner delivers benefits not only to borrowers and lenders, but also to third party guarantors and specialized service agents, all whilst ensuring that loans are cheap, safe, and profitable for those invested.

There are of course many other benefits that FintruX brings to the table, e.g. semi-autonomous loan approvals using etheruem smart contracts, an almost immediate issuance of loans once approved, and no-code development technology that enable many more developers to help improve the system.

FintruX ICO

Launched on 7th of February and running until the 28th the FintruX ICO sold 99% of the allotted funds. Of the $25,000,000 set aside for the initial coin offering, $24,714,054 went to keen investors. (source: https://icodrops.com/fintrux/, May 2018.)

The FintruX Team

The team boasts over two decades of experience in the securities sector, where each member gained invaluable knowledge regarding credit enhancements and interest reduction. With the rising trend of incorporating blockchain technology into systems throughout all manners of different industries, FintruX was the next logical step for team whose goal is revolutionize the lending market.

Members of the team come from related industries such as finance, banking, software development, machine learning, AI, and fintech. With experience covering everything from custom enterprise applications to global organizations such as J.P. Morgan, AT&T Capital to neuroscience and psychology, it’s quite clear that the team has what it takes to pioneer a completely new process for lending in the modern age of the internet.

With one of the strongest legal teams in the business behind them, it’s clear that the team care deeply about legal concerns. And in an industry so new, it raises new legal and ethical matters at almost every turn, and having the knowledge and support to guide the team to make the best decisions for their investors is extremely important.

The Future Looks Bright For FintruX

The recent achievements of FintruX suggest a successful future for the ecosystem, and of course, the FintruX token. Maintaining 300k-500k USD of steady daily trading is an achievement in itself without being listed on bigger exchanges such as Binance, KuCoin, or Bittrex.ut, this is also a great indicator that the team has the ability to not only meet their targets, but the ability to surpass them.

With highly dedicated members, each of which have a well-respected reputation to uphold, FintruX has already shown commitment through some not-so pleasant times; a good sign that they’ll be devoted to overcoming any other pitfalls that they, or the industry may experience.

As I explained at the beginning of the article, I felt (both as an investor and ICO researcher) that FintruX should get the recognition they deserve for their efforts and actions so far.

Whether you agree or not, I would like to hear your opinion about this project! Let me know what you think by leaving a comment in the section below.