The Deal Coin; The Future of Peer to Peer Lending
The Deal Coin; The Future of Peer to Peer Lending
The Deal Coin Solution was created by The Deal Limited as a blockchain lending platform. It’s a hybrid decentralized peer to peer-based lending platform that is expected to incorporate blockchain technology, including its security and transparency.
Basically, Deal Limited just created a new financial ecosystem that will serve as a wakeup call to financial sectors across the world. The vision is simple, to reduce the cost of finance and make it lower, faster and easier to gain access to funding, regardless of where they are in the world. All these, while enabling and ensuring higher and secure return to users.
The Deal Coin Solution aims to be the number #1 global lending platform. And it intends to achieve this goal through;
• Blockchain Technology
• Asset Securitization
• Insurance
• Legally Binding Smart Contract
Now that you have a general idea of what the Deal Coin is all about, let’s delve a little deeper.
WHAT IS THE DEAL COIN?
It is a utility token which grants the platform user access to a host service such as Smart Insurance Contract, Debt Collection, Smart legal Contract, and Credit Referencing. These services work well with The Deal Coin Lending Solution Database (DLSD). Consequently, loans on the platform will be legally enforceable and immediately insurable.
The Deal Coin Solution on the other hand, is a decentralized P2P based lending solution which was designed to connect borrowers across the world to a single network of global professionals and institutional lenders. The goal is simple, to fulfil their lending requirements.
With Deal Coin Solution contract, users are expected to be able to assign and transfer rights which underpin the loan agreements. Users will also have access to full arbitration services used for debt collection and legal actions.
Furthermore, users of The Deal Coin and the DLSD will be able to securely access the information outlined below within its blockchain;
• Loan value
• Terms of loan agreement
• Smart Insurance policy
• Know Your Customer information
• Debt collection provision etc.
Let’s go a little further, it’s about to get more interesting.
THE DEAL COIN SOLUTION AND DLSD ECOSYSTEM; HOW IT WORKS
It all begins with the borrower completing an application form using the platform’s Decentralized Applications (DAPP). Such a person would be required to supply additional information based on the KYC and AML policy.
Next, the DAPP connects with the Deal Lending Solution Database (DLSD) to process the information supplied. At this stage, a few tasks are triggered, which then awaits a verification process. After verification, all tasks will be returned and the borrower will receive a notification.
His or her application is listed within in the DLSD and will be displayed via the platform’s Decentralized App to make it easier for potential investors to use.
Now, if you intend to lend on the platform, you’ll also be required to complete a KYC information that’ll enable you participate within the DLSD ecosystem. Lenders will be able to communicate with borrowers through the DLSD as soon as the information is confirmed as a verified task.
Hence, platform users will be able to connect easily with borrowers across the globe and will be able to discuss suitable rates and acceptable terms to both parties. The information is collated and held within the DLSD when the funding target is reached.
Finally, the lender purchases the Deal Coin (initially through a token sale or later through an exchange) to initiate the Deal Coin Solution. The coins are released after approval and converted to a local currency of preference. The loan is recorded in the Deal Coin contract.
THE DEAL COIN TOKEN SALE
The token sale started back in March 2018 and is expected to run until the hard cap is reached. Alternatively, till the end of the token sale- June 20, 2018. The total token supply is 1,000,000,000 (1 Billion) Deal Coins.
The soft cap is $5 Million and the hard cap is $50 Million and will be sold at a price of $0.10 per Deal Coin or at a Bitcoin or Ethereum equivalent. Please note that all unsold Deal Coin during the token sale will be sent to the Reserve Treasury. Of course, there is a reward in form of bonus for those that contribute early, it is outlined below.
Deal Coin Token Sale; Reward
Those that participated in the pre-sale at first week, March 29th receives a 20 percent bonus, while the participants of the following week, April 6th will receive 15 percent. Finally, individuals that join at the last week of the presale, April 13th will enjoy 10 percent bonus. The main token sale offers no bonus.
The Deal Coin token cannot be purchased in fraction, users must buy whole token amount using fiat currency or cryptocurrency (Bitcoin, Ethereum or Ripple). Now, let’s explore the token allocation.
THE DEAL COIN TOKEN ALLOCATION
The total token supply for the Deal Coin is limited to 1,000,000,000 (1 Billion) and will be distributed as follow. The largest percentage i.e. 65 percent of the total token supply, will be made available for the token sale and 15 percent will be allocated to the founders.
The development team is supposed to receive 10 percent of the total token supply, the advisors get 10 percent, and the remaining 4 percent will be reserved for bounty service.
A Deal Coin treasury will be created to hold Deal Coins that was not sold during the token sale. This is to ensure that the peer to peer lending platform will always be able to fund global loans. However, there would be restrictions in place, transparency and guidelines to protect the coin holders.
What will the funds from the token sale be used for, you ask?
TOKEN FUND ALLOCATION
The larger percentage of the proceeds, 35 percent, will be dedicated to the development of the platform. Next, 25 percent will be used as operational cost, which include Global Deal Coin Partners. t. Marketing is expected to receive 20 percent of the fund and the last 20 percent will be used for legal and compliance.
Source
Website: https://wefundanydeal.io/
Whitepaper: https://wefundanydeal.io/wp-content/uploads/The-Deal-Coin-Whitepaper.pdf
Twitter: https://twitter.com/wefundanydeal
Youtube:https://www.youtube.com/channel/UC9e4PummUYeS23YFoYz059Q
Facebook: https://www.facebook.com/wefundanydealcom-949135491807193/
Medium: https://medium.com/@TheDealCoin
Telegram: https://t.me/thedealcoin
ANN Thread: https://bitcointalk.org/index.php?topic=3041085.0
Authored by: gbenga88
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1874687
Eth Address: 0xdcef7d27bbaae609accdaf43ccf41b042beaffb4