Finminity: The Most Rewarding and Flexible Tokensale Platform for Startups and SMEs
Making Fundraising affordable for Startups and SMEs through Decentralized Finance (DeFi) and Blockchain
Making Fundraising affordable for Startups and SMEs through Decentralized Finance (DeFi) and Blockchain
Blockchain fundraising was catalyst to the most innovative technology built in the last few years. Talent is equally distributed, but opportunity is not. The blockchain industry has put the entire world on a level playing field. Technology was built that otherwise would have never been possible.
Currently, the crypto ecosystem consists of dispersed blocks of applications and for an entrepreneur to raise funds, she has to traverse multiple places and get burned up by inefficiencies, middle-men and commissions.
Current Problems with Fundraising in the Crypto/Blockchain Ecosystem
PROBLEM 1: Fundraising Process Inefficiencies
Companies today need to launch huge campaigns for fundraising. They need to engage with multiple investor groups on Telegram, sponsor AMAs in different communities, participate in events, and try to investors again and again until they are oversubscribed.
The process and questions are repeated umpteenth number of times. There is no platform aligned to the crypto world where pitching, event management and investor engagement can be done in a single place in a transparent manner for everybody. When investors are ready, companies have to manually create the tokensale agreement or use HelloSign or DocuSign and go back and forth. This is an inefficiency that needs to be fixed for both investors and the companies.
Finminity brings Ethereum signed agreements that are automatic and non-tamperable!
PROBLEM 2: Customized Smart Contract Development and Audit
After this, the developers of the project need to carefully build out their tokensale contracts and the smart contract functionality of the token itself.
Many projects and teams have taken transparency even further and develop funding release smart contracts. They don’t release funds to themselves for development unless certain milestones are met.
Furthermore, all of these smart contracts need to be audited by reputable firms that have backlogs for weeks. smart contract resulting in massive time loss and energy.
With Finminity’s tokenization engine, company founders can configure the smart contract rules in a simple manner without needing to have solid programming knowledge. The tokenization engine code is security audited as well.
PROBLEM 3: KYC
Every investment is typically done early stage, in different companies, with different KYC requirements, and you’re not even sure how secure these multitude of different KYC services are.
They are siloed and that means investors need to do KYC again and again.
With the Finminity platform, once they are KYC’ed and Whitelisted, they don’t need to do individual KYC — they can just go and invest with their gateway. They can vote in resolutions, do a check whether the company has achieved their milestone and give their approval for release of funds. They are in control of their risk and also behave as a long-term supporter of the company.
PROBLEM 4: Scams and Rug-Pulls
With the explosion of DeFi and the popularity of anonymous teams, there are new scams and rug-pulls every single day. It’s common for new projects to pop up, have a lot of hype, maybe raise money to build the project, launch on Uniswap, maybe add some initial liquidity, attract other liquidity providers + traders, mint a huge number of new tokens, dump those tokens, and walking away with all the raised funds.
These scams and rug-pulls exit without meeting any commitments and leave the majority of investors high and dry.
When investing on Finminity, the funds raised (Investors’ money ) is kept in Client Money Account and the equivalent amount of Escrow Tokens (stable coins) is created and securely kept in the Blockchain smart contract. The funds are disbursed only after the company achieves its set milestone and after it achieves 50% or more votes passed by the token holders. This is managed by Finminity’s Decentralized Autonomous Organisation (DAO) Smart Contract.
Finminity Solves the Problems of Fundraising through a harmonised, easy to use and secure platform that makes the life of Investors and Companies easier.
Let’s dive into the following functions they bring into a single platform!
Affordable fundraising for Startups and SMEs through DeFi and Blockchain. Finminity is enabled by a DeFi token engine that tokenizes your investments, embedded with compliance requirements be it utility tokens or security tokens.
Investor protections from scams & rug-pulls from companies through smart contract-driven milestone-based payment release
Finminity DAO powers a decentralized Investor Services Platform. Permissioned community and investor voting for resolutions and statutory obligations.
P2P Crypto Marketplace for the community to do P2P trading between themselves solving the problem of liquidity for early stage projejcts.
Enabling individual investors to become the VC, pulling the power out of these centralized entities, and thus making Investment Banking affordable to Startups and SMEs through blockchain.
Finminity Tokenization Engine allows companies to easily tokenize their company and onboard on to Blockchain. It supports token mapping from traditional equity shares to properly distribute newly generated tokens. The engine can handle ERC 20/1404 (utility and asset-backed) standard Token Creation and Token Allocation to investors through a configurable Token Engine. This token engine also does the (Know your Business) KYB check of the company before it is onboarded.
FMT Token Model
Finminity has clear tokenization use cases within the platform with plans to drive real utility and adoption.
Companies raising funds will pay their fees through FMT Token
Onboarding to the Platform
Token creation & associated smart contract configuration
Dividend Distribution
Putting Investor Resolution to Vote
Investors/ FMT Token Holders
Gets early access & preferential pricing to token offerings on the Platform
Can do voting in the resolutions and earn more tokens given by the company for their work
Receive Interest + Earning Distribution
3rd Parties and Ecosystem Partners
Use FMT Tokens to create alternative products like Funds out of tokens
In the P2P marketplace within Finminity, where these Tokens are traded, the commission or transaction fees are paid in Finminity tokens.
Upcoming Companies that Will Raise Funding on Finminity
They are finalising the next companies that will onboard the platform for funding. Possible candidates:
Decentralized Robotics company (nextibot.com) and its coin (this company made $1 MN this year selling robots). These Nextibots are identified for rental and rental income will accrue to the NFT holders. This edge computing enabled robot company will come to Finminity for NFT tokenization and funding for Next.
A Personal Data Tokenization and monetisation company using Blockchain for Data Privacy & Consumer benefits.
Current Status of Finminity
The most exciting thing about Finminity is a live and working Application: https://finminity.finance.
It’s built on Microsoft Azure and Alibaba with the Dapp Token engine on Ethereum Testnet.
In addition, they have a large presence in the Middle East and Europe. This gives them a large competitive advantage of bringing good companies with due diligence.
Finminity Partners with LID Protocol to Launch a Premium Presale
Save the Date: NOVEMBER 12TH, 2020 at 9 P.M. PST
The next milestone is launching the Presale through an ILO (Initial Lid Offering). Through this, Finminity will acquire tons new users from the investor side. Quality investors will be provided for the companies that come in later to raise funds through Tokenization.
FMT Presale Details
🔸 Hardcap: 3000 ETH
🔸 Softcap: 500 ETH
🔸 Individual Max Cap per wallet: 50 ETH
🔸 Base price at highest bonus range: ~10,135 FMT/ETH
🔸 Uniswap List price: ~9,652 FMT /ETH
🔸 No Presale Locks: All FMT Presale Tokens are unlocked right away at Uniswap listing for all investors
Participating Bonus Structure
0–100 ETH: 5% bonus
100–500 ETH: 4.5% bonus
500–1000 ETH: 4% bonus.
1000–2000 ETH: 3.5% bonus
2000–3000 ETH: 3% bonus.
Bonus Structure Explanation
The LID Sale on 12th Nov has a rewarding bonus structure based on the participation slot. For e.g. contributors who participate in the raise slot of 0–100 ETH, gets the maximum bonus i.e. 5% extra tokens. With the base price 9,652 FMT, contributors in 0–100 ETH block gets 5% extra hence would get 9,652*1.05= 10,135 tokens. Contributors joining later and participating in the other slots, gets a slightly lower bonus but still Finminity ensures a minimum of 3% bonus for all.
Referral Rewards for sharing the Initial LID Offering / Presale
There is also a referral functionality built within the LID Protocol — to use this the contributor needs to connect their Metamask Wallet to the LID Protocol Sale page of Finminity, a referral code which is unique to them is generated and they can share that with their network. The referrer will get a 2.5% referral bonus in FMT Tokens!
Links to Stay Updated with Finminity (FMT)
🔷 Presale Link: https://sale.lid.sh/finminity (will be available 2 days prior to the sale)
🔸 Finminity TG: https://t.me/finminityofficial
🔷Finminity Live Application: https://www.finminity.finance/
🔸 Finminity Website: https://www.finminity.com/
🔷 Finminity YouTube: https://www.youtube.com/channel/UC4WACo9cQZ4VjZjBsskjlvg/