Here we provide an overview of Finom’s ICO. The company has been compared to a financial Google that allows anyone to quickly enter into the world of cryptocurrency and confidently attain their financial goals. The system already incorporates several services popular on the cryptocurrency market: TabTrader, Nanopool, the Cryptonit exchange, the Beetle broker and the Cryptal mining center.
Investors have already pledged over $38,000,000, and investments in it are viewed as both long-term and mid-term since they are simultaneously launching two types of tokens: share tokens and utility tokens. ICObench rated the project 4.1 out of 5. The token sale will end on December, 30th, 2017.
The project has three key advantages. First, it is being launched by a company that already holds five active and profitable businesses. Their services are used by over 520,000 people in 178 countries. Revenue for 2017 through November was $3,200,000.
Second, the project has two tokens: FIN security and NOM utility. The former is analogous to company shares. Token holders have the right to receive dividends and to vote. When purchasing FIN tokens, you receive that many NOM tokens as a gift. These serve as an internal currency within Finom’s ecosystem and provide a series of privileges for their holders.
The third advantage is the legitimacy of the token sale. The launch of our tokenized FIN shares is being carried out in full accordance with Regulation D of the US Securities Act of 1933. Accredited investors from the US and investors from other countries can officially purchase tokens. The security of investments for fiat deposits is being provided by the escrow agent SharesPost.
The initial price for both Finom tokens is $2 – for now, the tokens are only sold as a pair and are limited to 113 million each. 45% is on sale. The company plans to attract $101 million. The FIN tokens will be frozen for a year due to the demands the SEC makes on shares, but the NOM utility tokens will enter the largest crypto exchanges once the token sale ends.
The World of Finance, Available to Everyone
Finom’s blockchain ecosystem, with its single entry point and AI assistant, will help lower the entry threshold into the financial market. First of all, users will receive immediate access to bank services with a convenient interface and without intermediaries or multistage commissions. This will allow people at any level of means and expertise to use cryptocurrencies.
“We make the technology more user-friendly and, as a result, more popular. Financial operations will become cheaper and more convenient. Two billion unbanked users will receive cheap banking products, while minor investors will receive access to instruments with a high entry threshold,” says Alexander Barkovsky, CTO of Finom and founder of Nanopool.
The integrated AI will help the system adapt to the goals of each user and suggest the most beneficial and relevant solutions. In this manner, Finom’s ecosystem will allow the blockchain infrastructure to reach a new level of quality and quantity.
Nanopool is one of the largest altcoin mining pools in the world. It mines a significant amount of Ethereum, Ethereum Classic, ZCash, Monero, Pascal, and Siacoin. Since the ICO began, Nanopool has received an ICP license to enter the Chinese market and has opened a new pool for Electroneum. Those stages had initially been planned for the spring of 2018. The majority of the pool’s revenue is generated by Ethereum mining, which amounts to 6,000 blocks per day where the minimum reward for a block is 3 ETH. The pool has been running since 2015, and in that time the number of users has reached 71,500.
TabTrader is a popular Android and IOS app for cryptocurrency trading. Its convenient interface allows users to trade on the 23 largest crypto exchanges, including Coinbase, Bitstamp, Kraken, and Bitfinex, from a single window. The program takes a cut of the commission from the exchanges and is free of charge.
“TabTrader is a Skyscanner for cryptocurrencies. We bring the interfaces of different exchanges down to a common denominator. You can set up your account through the API and post the purchase or sale of assets just by clicking on the graphic. In the future we want to unify the order books so that users can make deals at the exchange rate most advantageous to them,” notes Kirill Suslov, CEO of Finom and founder of TabTrader
The Beetle mobile app allows users to buy ETH or BTC using a bank card. The app is available for iOS and Android. Plans for the near future include a web version, as well as an expansion of the cryptocurrency roster available and of the bank card coverage area. The project will reach its culmination in 2019 with the development of an IPSP gateway and the creation of an in-house payment system provider. Beetle works in tandem with the Cryptonit exchange and also forms part of Finom. Users’ requests pass through the API and enter Cryptonit, where the transactions take place.
In 2018 the platform will be rounded out by cryptocurrency wallets and debit cards linked to them. Miners will be able to earn coins and pay with them immediately. By 2020 the company will launch a cryptocurrency bank with an ATM network. This will make the movement of cryptocurrency and financial operations with fiat currencies more convenient for users.
The company is already creating full-fledged mining software – Cryptogen. This client will contain a convenient interface that will allow users to mine coins automatically, determining the most cryptocurrencies most profitable for mining. The beta version should be released in January 2018.
The future of any project depends on the people creating it. Finom was founded by four closely-knit teams who have been working together for years and who have already created leading products in their respective fields: mining, trading, and banking. The merger took place in August 2017 and the new company has gained as a result.
The Finom project includes a functioning business; a strong, experienced team; detailed documentation – all of these things significantly lower the risks characteristic of ICO projects.
Finom is carrying out the tokenization of its assets under American jurisdiction, which makes serious demands on the company in how it reports its accounting and the information it makes available. This step raises the company’s transparency for investors.
The Finom project is a conglomerate of diverse FinTech companies incorporated into a single ecosystem. This combination should have a synergetic effect, accelerating the company’s growth and stimulating the transformation of the global blockchain infrastructure.