ICO Review: FIC Network
@IcoReview
Telegram: @ficnetwork
Whitepaper: Read
Token: eFIC (1 eFIC = 0.1 USD)
HardCap: 16 Million USD
Total Token Supply: 633 Million eFIC
ICO Date: 16 April
Overview:
FIC Network is a decentralized fixed income securities network that enables the listing, exchange, and securitization of fixed income financial instruments including corporate bonds, syndicated loans, asset-backed securities, and more. By implementing blockchain, FIC Network expects to offer benefits to current fixed income investors over traditional fixed income securities markets.
Transactions made on FIC Network will be immutable, and users will also enjoy lower costs from the removal of intermediaries in their market. Users will also benefit from the speed of transaction settlement, as exchanges can be done in seconds as opposed to days or even weeks.
The primary new feature that FIC Network aims to bring to the fixed income securities market is the introduction of Expected Cash Flows (ECF) as tradeable repayment options. ECFs allow investors to slice the cash flows of the loans any way they want (by maturity, interest or principal portion, etc.).
Therefore, they can select specific repayments across several loans to diversify risk or fine-tune their cash flow requirements to specific payout periods.
Lenders would first need to originate a loan before it can be listed on FIC Network. Investors will then invest fiat or crypto into the loans listed on the exchange.
eFIC tokens are used in order to publish financial instruments as well as bid for ECFs on FIC Network. For certain actions (creating firms/users, listing loans, etc.), staking tokens are required while for other actions (sell whole loans), eFIC tokens will be spent and gone forever. eFIC has a fixed supply, so as usage of FIC Network grows, demand for eFIC increases which can lead to an increase in the price of eFIC tokens.
The team and advisors are solid with a balanced mix between entrepreneurs, finance executives who can help drive adoption of the platform, and developers.
Security token is believed to be (one of) the next big thing coming to crypto. It has the potential raise exponentially because basically every asset can be tokenized.
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