Crowd Genie is a peer-to-peer lending platform. The idea of peer-to-peer lending is not new and similar projects already exist, but CG differs from most competitors in that the company has received a license from MAS (Monetary Authority of Singapore).
This lending platform has reports from the beginning of 2016, financial flows in the documents appear serious, which proves the seriousness of the developers intentions. The founders, Akshay Mehra and Bikash Saha have good experience in large companies.
Akshay Mehra managed to work in Innosight Consulting, Anchanto Pte. Ltd, Procter & Gamble, Indian Institute of Management, is in its asset and participation in successful Indian startup Lean Startup.
The main goal of the project is not to replace the usual lending in banks, but rather to complement and expand it, to make it more flexible. The developers plan to create a flexible system of risk assessment. In addition to the credit history, business development plans are planned to send a CG employee directly to the company, who wants to get money in debt and risk assessment on the spot.
The project was built on the Ethereum blockchain to facilitate the process of issuing a Crowd Genie plan through the tokenization of assets. That is, the borrower is registered on the platform, passes the risk assessment procedure, the lender buys his tokens and thus provides the borrower with money.
- Date: 8.01.2018-28.02.2018;
- the name of the token — CGC (CGCOIN);
- the rate for the ICO period is set at 1ETH = 400 CGC;
- the minimum purchase amount is 0.1 ETH;
- US residents were not be able to participate in the ICO;
- depending on the stage at which the buyer will participate in the ICO, the size of the bonus depends. 1-14 day — 25% bonus, 15-21 day — 15% bonus, 22-28 day-5%. Starting from day 29, the bonus will not be credited;
- all CGC tokens that are not implemented within the ICO will be destroyed;
- the developers expect to gain at least 100,000 ETS within the ICO.
120 million tokens will be released:
- 60 million will go on sale as part of the ICO;
- 50 million will not go on sale and will be used to ensure the operation of the system;
- 3.6 million are allocated for marketing and bounty program;
- 3.24 million are in property developer platform;
- 3.16 million will be distributed to partners and early investors.
60 million tokens for sale will be distributed as follows:
- ICO — 83%;
- founders — 3%;
- marketing costs — 3%;
- Bounty program — 3%;
- distribution among partners — 4%;
- management costs — 2%.
Only 1.8 million CGC tokens are allocated for the bounty program:
- 30% will go to reward those who will promote the project on BitcoinTalk (translation of the text into other languages);
- 30% — to authors of articles, blog owners;
- 15% — promotion on BitcoinTalk;
- 15% — advertising campaign on Twitter;
- 10% — promotion on Facebook.