Susumi helps people to raise fund in harsh economic climate.

wilcoxclark (28)in #susumi • 2 years ago

Introducing Susu

Susu is a variation of Crowdfunding, practiced long before the advent of the Internet.

It is a centuries-old traditional financial system, sometimes understood as a form of cooperative finance or a social finance system in many parts of the world from Asia to Africa to the Americas.

It has many different names in many local cultures, but is popularly known as Susu.

This concept involves a group formed for the purpose of pooling funds to meet the economic needs of one member of the group, with the understanding that each member will benefit equally.

Each member commits to giving a certain amount for a certain number of rounds in a certain period of time. For example, $20 will be donated weekly for 20 weeks.

All contributions of the same amount received in each round will be divided equally among the designated member, after deducting an administration fee from that amount.

In many countries around the world where credit is not available to the formal sector due to high interest rates and strict eligibility criteria, small businesses rely on the Susu system to provide them with a financial solution.

Susu aims to provide its members with large sums of money to invest or earn profits that their modest but steady income does not allow. He was the forerunner of many modern microfinance institutions.

Susu is basically reciprocal crowdfunding.

The Susu system is a model of how Crowd Funding the Person works.

Susu Crowdfunding Smart Contract
The smart contract creates a permanent pool with $SUSU Coins.

The fund is maintained at a stable constant cash value using a proprietary algorithm.

User will deposit $SUSU Coin into Smart Contract to activate Susu Fund and reward $SUSU Coin from Smart Contract will be given to sponsor.

The total value of the Fund in the Smart Contract always remains the same. This increases the value of the $SUSU coin in the market and increases the utility of the token.

Users create and publish their fundraising campaigns on the Susumi app to access $SUSU coins stored in Smart Contracts and then earn with Stable Coins.

The whole process is a reliable transparent transaction.

$SUSU Coin Cryptocurrency Token
This is the native currency of the Susumi app, which is used to create a permanent pool in the smart contract. The token is fully minted and most of the total supply is stored in a smart contract. The token will be fully convertible and tradable on a public exchange.

Users deposit $SUSU tokens to create a new Susu Fund campaign, and when the Fund matures, $SUSU tokens will be released to Fund subscribers as a reward for participation. The newly issued $SUSU token will enter a recovery period that can be interrupted if the user wants to use the token to create a new Susu pool

Platform Wallet
Application components:

Each user of the Susumi app is identified in the smart contract through their wallet address. The Smart Contract works exclusively with the Wallet to enable the automatic transfer of contributions and rewards when the necessary conditions in the Contract are met. Susumi Wallet does not store, users own their private keys.

Token Pricing
Reward tokens issued by the sponsor after the maturity of the Susu fund are valued at the token price when the Susu fund was created, regardless of the market price at the time of the subscriber's contribution.

The new $SUSU tokens are essentially distributed through Susu Foundation donations.

This unique distribution model means that the $SUSU token is not subject to market speculation on its price or value.

Susu Smart Contract has a built-in pricing algorithm to adjust the price and value of SUSU Coins by calculating the rate of issuance and storage of reward tokens in the Smart Contract against the total token supply notice in the contract.

This pricing mechanism for $SUSU Coin maintains a constant value for the pool forever and limits the impact of speculation on the price of $SUSU Coin on the open market.

SUSU Tokenomics
Susumi Coin Token is a BEP-20 Utility Token developed on the Binance Smart Chain Network.

It acts as a native token for the Susumi platform.

95% of the total supply of SUSU Tokens is stored in Smart Contracts. New SUSU tokens are issued from Smart Contracts as rewards for Susu Foundation sponsors.

The SUSU token will be returned to the Smart Contract to create a new Susu pool.