24h volume

$137.7 B

AltCoin M.Cap

$-617,223,249,044

Total M.Cap

$267 B
bitcoin
LendsBay (LBT)

The LendsBay system creates a new approach to loans between people, solving the problems such as: No formal loan records: disputes arise about repayment dates, terms and conditions; no reminders are sent; No contract: there is no mechanism for judici..

  • Start Date
    18 Sep 2018
  • End Date
    29 Oct 2018
  • Price
    1 LBt = 0.001 ETH
  • Min. Investment
  • Platform
    Ethereum
  • On Exchange
    NA
  • Soft Cap.
    250,000 USD
  • Hard Cap.
    1,500,000 USD
Ended
Rating
4.4
ICO Ended
  • Origin
    Russian Federation
  • Whiltelist
  • KYC

About

The LendsBay system creates a new approach to loans between people, solving the problems such as: No formal loan records: disputes arise about repayment dates, terms and conditions; no reminders are sent; No contract: there is no mechanism for judicial enforcement of debt repayment; No market-based mechanism for determining interest rates: the market is either larger or smaller than its potential; No tools for risk management: no credit rating, diversification, insurance. ⠀ ⠀ We offer the following step-by-step solution to the above-mentioned problems: Creating an app to manage loans between relatives, friends and acquaintances: the app is used to find a lender and then to record, document and administer (e.g. send out reminders) the loan; Creating social groups (so-called bays) to pool financial resources through mutual lending, e.g. there are social groups centred around work, universities and social clubs that already have a certain level of trust, common values and a high degree of social control, not to mention little tolerance for irresponsible behaviour; Creating a blockchain to store individuals' credit-rating information (LBR); Using the blockchain for any financial transactions between individuals (non-credit assessment) (LBU); Developing the elements of an ecosystem for financial relations: mutual insurance; purchasing, selling or leasing items; and decision-making systems. ⠀ LendsBay team have already developed a functional and ready-to-use alpha version of the application.

Timeline

  • 2016-2017

    Createding a web prototype. Market research. UX testing. Builtding a financial model. Developed the server and user part of the application.

  • JUNE 2018

    Conducting a pre-ICO.

  • JULY 2018

    Release of the beta version of the app for Android/iOS. Developing the legal component (loan agreements, lawsuits, debt collectors). Establishing ratings and pricing mechanisms.

  • SEPTEMBER 2018

    Carrying out an ICO. Converting tokens, connecting to the app. Adaptation for Telegram. Connecting to a credit bureau. Connecting to telecoms/online credit history providers. Entry into the UK and US markets.

  • MARCH 2019

    Creating social groups: Co-workers/University. Linking to a payment system. Implementing the social ratings system (proximity rating). Implementing the behavioural ratings system. Creating an API. Entering developing markets.

  • SEPTEMBER 2019

    Implementing the blockchain ratings system (LBR): distributed accounting and storage of ratings data. Constructing a ratings model based on multiplicity of data. Providing the suppliers of goods and services with secure access to the ratings system data

  • FEBRUARY 2020

    Creating a universal rating for economic relations (LBU). Creating various ecosystem elements. Building a consolidated ecosystem of transparent relationships.

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More Info

  • ICO Progress
    13.67%
  • Token Type
    ERC20
  • Pre ICO Date
    18 Jun 2018 - 29 Jul 2018
  • ICO Date
    18 Sep 2018 - 29 Oct 2018
  • Total Tokens
    75000000
  • Collected
    205,000
  • Bonus
    Pre-ICO 30%-50% ICO 14%-26%
  • Distributed In ICO
  • Currencies
    ETH, BTC
  • Restricted
    China, United States of America,

Ico Team

ALEXANDER KOPTELOV
ALEXANDER KOPTELOV
Founder, CEO
ANTON GAZIZOV
ANTON GAZIZOV
Founder, CFO/IR
ANDREY CHEREMKHIN
ANDREY CHEREMKHIN
Founder, COO
LYUDMILA LUKASHOVA
LYUDMILA LUKASHOVA
Founder, СRO
VLADIMIR GORBUNOV
VLADIMIR GORBUNOV
IT
DARIA BATAMIROVA
DARIA BATAMIROVA
Marketing strategy
MURAT YENIKEYEV
MURAT YENIKEYEV
Risk adviser
KRISTINA SHILOVA
KRISTINA SHILOVA
SMM
ANGELICA PHILLIPS
ANGELICA PHILLIPS
UK Market
ALEXEY KHALIULLIN
ALEXEY KHALIULLIN
Adviser
ANDREY LUKASHEVICH
ANDREY LUKASHEVICH
Adviser
EVGENY KAPLIN
EVGENY KAPLIN
Adviser
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