What is FintruX?

FintruX is a blockchain project that provides a peer-to-peer (P2P) network for marketplace lending.  Their platform connects borrowers, lenders, and servicing agents, which allows them to construct each borrower contract in real-time.  This provides a level of efficiency that is not realistic with today’s lending marketplaces.  Better efficiency is only one of many benefits this platform provides though. 


Benefits of using FintruX

Anyone that has ever taken out a loan the traditional way knows that it is not the easiest process.  Fees, intermediaries, and paperwork can make it expensive and time consuming.  FintruX has a number of benefits for both borrowers and lenders when compared to these outdated processes.  Some of the benefits are mentioned below, but check out their white paper for the full list. 

Borrower Benefits:
  • Transparency and fairness
  • Lowered transaction fees
  • Fast and efficient funding
Lender Benefits:
  • Risk-reduced investing
  • No upfront cost to lenders
  • Fully automated for efficient lending process


The FintruX Wireframe

FintruX already has a nice wire frame available for both borrowers and lenders.  A lot of projects tend to have a couple of screenshot mock-ups or just wording in their white paper of their platform.  This is nice because you can get a feel for what it would be like to use their platform.  The design is very clean, easy to navigate, and provides the important information.  Go to their website and click “Wireframe” in the top right to check it out.  The first screenshot below is from the ‘Borrower’ wire frame, and the 2nd is from the ‘Lender’ wire frame.



Note that you can even use the “Add Funding” or “Get a Quote” options on the wire frames and see how the process works.  It will also update on your dashboard, so this is more than just a pretty front page.


The FintruX Token (FTX)

The FTX token is an ERC-20 token, so you can store it in your Ethereum wallet.  If you don’t have an Ethereum wallet check out this guide on how to set one up.  The token has many uses in the FintruX ecosystem, which are listed below. 

  • Transaction execution reward
  • Token collateralization reserve
  • Rewards for good behavior, punishment for bad behavior
  • Reward for providing information
  • Platform access
  • API license

FTX does not represent any ownership right or stake in FintruX, it is considered a utility token.  As activities are carried out on the network, FTX is transferred from one participant to another.  This means the value of the token will be derived from usage of the platform. 


FintruX ICO Details

The FintruX ICO has a hard cap of 75,000,000 FTX tokens, which represents 75% of the total tokens.  There is a token sale bonus model, so the cap in USD terms will vary.  However, if we are conservative and use the price with no bonus, it would be a hard cap of 50,000 ETH.  At the time of writing ETH is ~$450, so this would be ~$22.5Mil.  Here is a screenshot from their white paper with the bonus model.


The token distribution is one of the best I have seen.  As mentioned before, a whopping 75% are being sold to the public.  The remaining 25% are split between the team (10% and locked for 12 months), collateralization reserve (5%), and FintruX reserve (10%).  The FintruX reserve is used to reward advisors, early adopters, bounty programs, and to provide liquidity if needed.  A visual of the breakdown is below with added details of each category.     


The fund distribution breakdown is core development (40%), operational (25%), marketing (25%), and legal (10%).  This is a pretty common split among projects, which is a good thing.  Projects building with cutting edge technology need to allocate the majority to development and operations.  Legal is also crucial in this space since there are a lot of unknowns.  A visual of the breakdown is below with added details of each use category.


FintruX Team

The FintruX team is very strong and consists of 6 people.  There are also 6 advisors helping with the project.  Business partners include Microsoft, Enterprise Ethereum Alliance, Robocoder Corporation, and Cynopsis Solutions.  Some extra information on a few of the team members can be found below.

The CEO and Founder is Nelson Lin.  His experience includes over 30 years of delivering financing solutions in the financial sector.  This includes custom enterprise applications to organizations such as J.P. Morgan and AT&T Capital.  Nelson also pioneered online credit adjudication for the asset-0based finance and leasing industry in Canada.

The CMO and co-founder is Conrad Lin.  Conrad is the Director of Business Development at Robocoder Corporation.  Prior to this position, he was a Web/Database Application Developer & Marketing Advisor for NeighbourLink North York.

The CTO is Gary Ng.  His experience includes 25 years as a seasoned architect in the financial sector.  Gary is highly skilled in all major programming languages and computing platforms.  Scalability and security is his focus, as well as delivering cost-effective solutions.   



The FintruX project is working to solve real problems in the lending marketplace.  Anyone familiar with blockchains know that anything financial is about to be overhauled with this new technology.  This is an ambitious project, but the team has the experience to successfully pull it off.  They already have a nice wire frame up that you can check out, so be sure to visit their website using the links below!  If you decide to participate, use this guide to add custom tokens to MyEtherWallet to see your FTX!


Links to FintruX social media and important information:


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