AltCoin Review: Crowd Genie


Crowd Genie: First Asia-wide Asset Exchange



General Information

Crowd Genie is a digital peer to peer lending platform established within Singapore. To confirm its authenticity, it has been granted the “Dealing in Securities ” license by the Monetary Authority of Singapore in March of 2017. To expand its reach to global markets, the company now intends to launch its token sale(of CGCOIN), the revenue of which will help it enhance its services. This token sale will be regulated by its subordinate financial services firm.

Advantages

The Crowd Genie platform offers several competitive advantages over its competitors as it has established itself as a form focused on lending monetary funds to small and medium-sized businesses. Through its authenticity, all the users of the Crowd Genie online platform are compliant Monetary Authority of Singapore eliminating any chance of fraudulent activity. The company is the first platform in its established country to introduce provision funds, known as the Genie Shield, which protects lenders from any defaults or delayed payments. To increase its investor's confidence, it is the only firm in which the directors take part in every investment process. Crowd Genie provides the guarantee of returning all loans to its lenders which is proved by the fact that it has a very strong track record, having no loss in capital for its investors in the past 1 and a half year.

Token Information
To expand its global reach Crowd Genie has introduced its token by the name of Crowd Genie coin(CGCOIN). The price of this coin is set to be 1ETH = 400 CGCOIN. This token can be used to invest in projects available on the Crowd Genie platform, these investments via its token are calculated to yield higher returns than a standard bank giving monthly interests and the repayment of investment via fiat or CGCOIN.At the end of each quarter, a large portion of 80% of the distributable profits collected via the CGFS listings will be used to buy back the Crowd Genie tokens at the current market price. The CGCOIN will be available on major crypto exchange platforms. The company intends to raise a total of 100,000 ETH worth by the end of its token sale period. The CGCOIN has a strong reputation in the market for real-time assessment of credits and on-time payments. Furthermore, it has a token buyback method which ensures a transparent cash flow source, and the all of the financial transactions via its token are not only regulated by the blockchain but also by the Monetary Authority of Singapore

ICO Information

The CGCOIN token represents a utility token. This token is based on the Ethereum blockchain network. As mentioned, 80% of the tokens will be bought back at the end of every quarter. By the end of its ICO period, the company aims to raise 100,000 ETH or its equivalent in BTC. A total of 10% of the funds collected will be reserved by the company, 7% of which will be reserved for the ICO marketing and distribution costs and the remaining 3% allocated to bounty programs for its ICO. Crowd Genie will supply a total of 120 million CGCOINs in the market, a large fraction of 50 million of which will be for sale during its token sale. 3.24 million tokens will be reserved for the company founders, whereas a similar portion of 3.16 million tokens will be used for distribution. The company intends to spend no more than 3.6 million of its tokens on marketing and bounties cost, and the remaining 60 million tokens will be allocated to facilitate platform transactions which will not be released in the token sale. Any unsold tokens will be burnt at the end of the token sale period. With the funds received from this investment round, Crowd Genie aims to use 45%  of the total amount, equivalent to 2 million dollars on investment in crowd genie loans, 30% on team expansion, 15% on security costs and the remaining 10% on overheads. For governmental policies restrictions, US residents and citizens will not be allowed to take part in the ICO

Conclusion

I hoped to have provided you with all the necessary information to correctly analyze this company and its token sale. If in the need for further information, please visit the links below.


Written By: AltCoins Reviews

AltCoin Review: Crowd Genie AltCoin Review: Crowd Genie Reviewed by AltCoins Reviews on February 09, 2018 Rating: 5

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