SOFIN (social financial network) – P2P-lending online service.
It is a marketplace platform which brings together creditors and borrowers:
- Creditor— private individuals, banks, microfinance organizations and funds;
- Borrowers — private individuals, individual entrepreneurs and organizations.
Loans are issued in the fiat currency of the country where the borrower resides. This allows the currency to be exchanged through the SOFIN token if the creditor and the borrower are from different countries.
What we have achieved so far:
- A fully developed financial model;
- A package of legal documents to issue loans is established;
- The design of the interface is elaborated;
- App domain logic is implemented on 45%.
Using ICO, the project will leverage the tools to produce the final release of the platform and extend the territories beyond Russia.
The system uses the Ethereum ERC 20 platform. The SOFIN token performs many functions on the system. Encourage of participants in a transaction to increase the number and quality of transactions in the system. The more turnover of issued loans is in the system, the cost of the token will be more expensive, since the entire fee will be taken in SOFIN - they will be automatically bought out from the exchanges to repay the fee. The history of all transactions will be stored in blockchain. Up to 20% of the loan will be available to be given in the SOFIN tokens. SOFIN will also be an intermediary between the exchanging of one fiat currency to another. You can find our more information in our whitepaper.
- Install node.js (>= 8), npm (or yarn)
- Install
truffleglobally:yarn global add truffle - Install packages:
yarn
To run tests you need to run geth in test mode: ./scripts/run-geth.sh, then run truffle test ro tun tests
NOTE: Remember to restart geth occasionally to reset its state