TRAXIA: The first Cardano Based Project

richard3455 (25)in #blockchain • 6 years ago

For a business to sustain its long-term stability and profitability, it needs cash. There are a lot methods of collecting accounts, like hiring collection agencies, factoring of accounts, but these are not yet enough to addressed the floating accounts receivable ( worst if written-off) of a company. That is the reason why traxia is here

What’s TRAXIA?

TRAXIA is a Cardano based project decentralized, scalable, fully open source and customizable with smart contracts creation. that will disrupt trade finance. Traxia allows small midsize enterprises (SME) to trade accounts receivable, at a premium, to receive instant liquidity.

MISSION

Traxia is a fintech platform that aims to guarantee liquidity to Small and medium-sized enterprises (SMEs) that have difficult to access at credits.

Traxia wants to make it easier for SMEs to get access to factoring without relying on banks. They want a small piece of the $43 trillion USD daily accounts receivable market.

The idea comes out by an evident difficulty of real worlds in which Banks finances only the 7% of short-term assets, extremely useful for the expansion of SMEs.

Traxia is here to address these concern. Traxia’s solution being the first decentralized trade finance ecosystem by using blockchain technology; invoices are converted into smart contracts ( is a binding agreement written / coded digitally as compared to traditional written agreement in paper) and traded as short-term assets ( which means it becomes liquid and easily converted into cash) where sellers and buyers continue to receive and pay in Fiat.

HOW IT WORKS

The seller (manufacturer) and buyer (Nordstroms) sign the deal for 1000 shirts. The seller wants to use Traxia so they convert their accounts receivable to a tradeable asset via LiqEase and Traxia. In order to do this, Nordstroms verifies and authorizes the transaction using their private key.The invoice is converted into a smart contract (digital token) by the issuing provider (LiqEase) and listed onto a marketplace for sale by a listing provider (LiqEase). At this point individual investors can purchase the asset (invoice) at a premium providing instant liquidity to the seller.When the contract is fulfilled the buyer will purchase the digital token (smart contract) from the investors and the investors will take profit.

ABOUT CROWD SALE

The Pre-Sale is divided into 4 stages, starting with a discount of 40% and token price of 40% and finishing with no discount at 18th of April. In the first stage the minimum amount to participate is 10 ETH and then, from the 19th of March, the minimum becomes 0,01 ETH.

Total supply of 1,000,000,000 TMT and hard cap to hit is of 41.4 million dollars, to spend into 64% Loan Warehousing, 11% Business Development & Sales, 15% Smart-Contract Development, 5% Legal and Compliance and 5% Contingency Budget. It’s very important to note that the major amount is going to be spent in Loan Wharehousing for assuring Liquidity Provider activity and so the work of platform.