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GN Compass Peer-to-peer Cryptocurrency

GN Compass, is a peer-to-peer lending platform for Cryptocurrency-Backed Loans. Investors 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.

Investors can freely exit their position by converting their GNCT tokens, hence allowing continuous liquidity. All transactions are verified and distributed on the Ethereum Blockchain. GN Compass is joining an expanding group of pioneering projects integrating the Bancor Protocol to maximize the trading liquidity of GN Compass tokens.

As a result of this protocol integration, holders of the Bancor Network Token (BNT) and any other token on the Bancor Network for decentralized liquidity (including ETH) will be able to convert their tokens for GN Compass tokens, and vice versa, instantly and continuously.

This technology solves the economic problem known as ‘Double Coincidence of Wants’ — where a seller of a set number of tokens must find buyers wanting the same number of tokens — at the same time — in order for a trade to take place. This is traditionally achieved through matching buyers and sellers in exchanges, and now can be executed automatically, directly on the block chain, thanks to Bancor Protocol smart contract technology.

Bancor’s smart contracts utilize a “connector” token method which will allows GN Compass tokens to automatically convert to BNT, ETH and any integrated token in the liquidity network, according to an open- source algorithmic pricing mechanism. These conversions take place directly between smart contracts, outside of exchanges. Bancor ran a record-breaking token sale in June 2017, collecting over $150 million for the project in under three hours.

They  believe in the Bancor team, vision and product. This integration will further our intention to create new value for both sides and for all others in the network. Additional exposure through the network and its participants will benefit the GN Compass community who will also enjoy continuous convertibility and relative price stability.

TOKEN SALE DETAILS:

  • Symbol: GNCT
  • Tech : Ethereum
  • Total Tokensale Supply : 100,000,000
  • Price : 1 GNCT = USD$0.14
  • Token Contract Address:  0x0725eb94043bddd85dfb81c3a45d9db1ed49fb48

TOKEN PRE-SALE ROUNDS:

  • First Round: January 29 To February 04: Price 1 GNCT = USD $0.14
  • Second Round: February 05 To February 11: Price 1 GNCT = USD $0.20
  • Third Round: February 12 To February 28: Price 1 GNCT = USD $0.25

TOKEN ALLOCATION

  • Total ERC20 tokens created will be 1,000,000,000 GNCT.
  • 20% Or 200,000,000 GNCT Will Be Reserved For Pre-Sale And ICO (Initial Coin Offering) Sale.
  • 10% Or 100,000,000 GNCT Will Be Reserved To Pay Out Bonuses.
  • 60%  Will Be Reserved To Back Investor Funds On The Compass Platform.
  • 10% Will Be Held In Reserve.

Sale of tokens are to raise funds for platform development.

TOKEN ADVANTAGES

  • Token Buyers Are Protected By Anti-Scam Systems.
  • Funds Will Be Refunded To Contributors In Case Of Failure To Reach Targets.
  • Bonus Tokens For Early Buyers.
  • Loans On The GN Compass Platform Will Only Be Backed By GNCT.
  • Tokens Will Increase In Value As Cryptocurrency-Backed Loans ™ Create Liquidity In The Lending Market.
  • Investors Can Buy And Sell The Tokens Backing Loans Only In GNCT.

GNCT are not just tokens but they are an integral part of running the GN Compass platform.

POTENTIAL EXCHANGE LISTINGS

 

gnos

Website: https://www.gncompass.com

Read more: whitepaper

Author: https://bitcointalk.org/index.php?action=profile;u=1325553

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