GN Compass - Cryptocurrency-Backed Loans rental platform

jigamola (5)in #ico • 7 years ago

Even with the internet and modern technology, loans remain very similar to their origins with big banks and gate keepers leveraging major of the value. This causes three major problems within the modern day loan industry:

Centralized structures that lack transparency
Low liquidity of notes and securities
One-dimensional credit scores that only aggregates and analyzes public consumer data

GN Compass is a peer-to-peer lending platform for Cryptocurrency-Backed Loans. Lenders invest funds into a pool at a certain interest rate with the invested amount being backed by Compass tokens(GNCT). The invested amount is then disbursed to Borrowers. Borrowers pay loans (principal plus interest) back to the Lenders. All transactions are verified and distributed on the Ethereum Blockchain.

GN Compass provides Cryptocurrency Backed Loans to create constant liquidity in the lending market. This is accomplished by allowing lenders to sell portions of loans or their entire portfolios. Lenders are not locked in to the term of a loan and can liquidate their loan positions for any reason (E.g. financial hardship, increased GNCT price etc.), only after a certain no-trade time period has been reached.The buying investors will reap the benefits of the loans being paid back by borrowers while the selling investor still makes a profit. By using blockchain technology to verify and distribute all transactions across the Ethereum network, it guarantees transparency. Lenders also have their funds backed by GNCT which protects their principal investment.

Why Choose GN Compass?

Putting up cryptocurrency as a collateral is very risky for the lender because of the volatility of crypto. This is also inconvenient for the borrowers who have their crypto assets locked in a smart contract for a period of time. GN Compass doesn't require you to put up your crypto up as collateral.
On the GN Compass platform your principal is backed and guaranteed by our $140 million backed GNCT token.
GN Compass has an advanced progressive rating system for borrowers that uses payment history to increase your score and grant you access to higher loan amounts.
GN Compass offers Micro-Loans for borrowers.
GN Compass offers some of the lowest interest rates in the entire lending industry both crypto and main stream.
GN Compass is the bridge between main stream lending and cryptocurrency backed lending. You don't need to have any understanding of the crypto industry to use the platform.

Advantages of GN Compass

How does GN Compass Work?

For investors

Investors sign up and create their profile and their investment portfolio. The investment portfolio page will ask the Investor about their investment objectives such as retirement planning, the preferred repayment cycle (for example, if the investment reimbursements are deposited into their account on a given day each month). investing and interest rate that are trying to receive more the period of time for which they are trying to invest.

Once the profile is complete and the investor is satisfied with their investment settings, it will therefore be necessary to add their banking information to our secure payment system. From there, the Investor will be assigned a secure digital wallet linked to his bank account where all transfers and payments will be made. Investor's investments will then be sent to a pool of loans to finance the loans. When loans are repaid, GNCT support will be adjusted accordingly.

For borrowers

Borrowers will register by creating a username, password and completing a profile page. They will also have the opportunity to register using their Facebook account, which will allow GN Compass to connect and extract basic information from their Facebook profile.

Once the borrower has successfully completed his / her profile and all required documents have been submitted and processed, a risk assessment will be performed and a risk rating will be assigned to the borrower. The loan amounts range from $ 1,000.00 to a maximum of $ 5 0, 0 0 0, 0 0 with an interest rate from 3.99% to 11.99%. If their level of risk is in our parameters, they can proceed with their application. If their risk level exceeds our parameters, it will be rejected and will need to be reapplied within three months.

Approved borrowers will fill out a loan application (alias smart contract), which will ask how long they want to borrow, the duration of the loan (eg six months, one year, three years etc.) and the loan repayment cycle (for eg their account on a specific day per month). Loan requests will be sent to a pool of other loan applications with the same rating in which the investor funds finance the loans.

Borrowers are required to pay the loan balance protection insurance. The amount of the insurance is a percentage of the balance due. The percentage is determined by the risk assessment of the borrower.

Token Sale

Symbol: GNCT
Tech : Ethereum
Type: ERC20
Total Tokensale Supply : 1, 000,000,000
Price : 1 GNCT = USD$0.30

Token Distribution

20% or 200 million GNCT will be reserved for pre-sale and ICO (initial coin offering) sale
10% or 100 million GNCT is reserved for paying bonus
60% will be reserved to turn back investor funds on Compass platform
10% is a reservation system

Fund Allocation