GN COMPASS

GN Compass is innovative new entrant into the consumer lending space. GN Compass is introducing cryptocurrency backed loans which are priced at highly competitive rates.

GN Compass will fund the loans from investors who will invest into lending pools through their platform. These pools will be liquid enabling lenders to divest part or all of their portfolio at any point in time.

Here we are going to look in more detail at how the GN Compass borrowing platform works.

WHAT PROBLEM DOES GN COMPASS SOLVE ?

For Lenders:
GN Compass provides Cryptocurrency-Backed Loans ™ to create constant liquidity in the lending market. This is accomplished by allowing lenders to sell portions of loans or their entire portfolios. Lenders are not locked in to the term of a loan and can liquidate their loan positions for any reason (E.g. financial hardship, increased GNCT price etc.), only after a certain no-trade time period has been reached. The buying investors will reap the benefits of the loans being paid back by borrowers while the selling investor still makes a profit. By using blockchain technology to verify and distribute all transactions across the Ethereum network, it guarantees transparency. Lenders also have their funds backed by GNCT which protects their principal investment.

For Borrowers:
Borrowers can access funds at a fraction of the time compared to banks and pay lower interest rates. For example, a standard Credit Card typically charges a 19.99% interest rate; our highest risk rating is “D”, which falls under our micro-loans division and has an APR of 16.99% which is also the highest interest rate a borrower will be charged on the platform. Also, we have our own credit system that doesn’t just use consumer aggregation (credit scores) to make loan decisions. Borrowers also have the opportunity to increase their GN Compass credit rating with timely payments which will grant them access to borrow higher amounts in the future and receive GNCT for their good payment history.

The team behind the GN COMPASS came with an idea to offer a first peer-to-peer lending platform with cryptocurrency backed loans. By backing the loans in GN COMPASS tokens (GNCT) they can offer a loan in which if a borrower defaults, the GNCT tokens will be converted back to original fiat currency and the investor will have his money back.

Loan Amounts With GN Compass

Loan applicants will be able to borrow between $1000 and $50000. Interest rates on the loan will be between 3.99% and 11.99%. If the borrower is unable to meet the minimum requirements for borrowing from GN Compass their application will be declined and they will have the opportunity to reapply for a loan again in three months.

The Loan Application Process

Borrowers once approved will fill out a smart contract enabled loan application. This application will ask the borrower the amount that they wish to borrow, how long they want the loan to be and how often they wish to make repayments. The loan request will then be sent to a pool with other loan requests which match the credit rating of that borrower. Borrowers will also need to pay balance protection insurance on their loan. This balance protection will be calculated as a percentage of the loan that is outstanding and the borrowers GN Compass credit score.

GNCT Token Sale

GN Compass is funding the development and marketing of their platform through a token sale of the the GNCT token. Up to 1 billion GNCT tokens are to be created and priced at 1 ETH is equal to 5000 GNCT.

GN Compass Advantages.
For Investor.

Investment protection: Loans are backed by GNCT.
Comprehensive borrower vetting process.
Loan Liquidity: Entire loan portfolios or loan portions can be sold easily.
Receive a higher interest rate than many traditional investment instruments.
Transparency: All transactions are verified and logged on the Ethereum blockchain and are searchable anytime, anywhere.
Advanced investment analytic tools that track your investments to make sure your investment goals being met.
For Borrowers.

A complete picture credit profile that doesn’t just look at credit scores and income.
Ability to improve credit rating by making timely payments.
Lower interest rates compared to payday loans and high interest loan companies.
Flexible repayment terms (between three months and three years).
Speed and ease of use: You can use your mobile device to apply for loans from the comfort of your couch and receive funds 10X faster than bank loans.
Transparency: All transactions are verified and logged on the Ethereum blockchain and are searchable anytime, anywhere.

TOKEN SALE DETAILS

Symbol: GNCT
Tech : Ethereum
Total Tokensale Supply : 100,000,000
Price : 1 GNCT = USD$0.30
Token Contract Address: 0x0725eb94043bddd85dfb81c3a45d9db1ed49fb48

FUND ALLOCATION

Total ERC20 tokens created will be 1,000,000,000 GNCT.
20% Or 200,000,000 GNCT Will Be Reserved For Pre-Sale And ICO (Initial Coin Offering) Sale.
10% Or 100,000,000 GNCT Will Be Reserved To Pay Out Bonuses.
60% Will Be Reserved To Back Investor Funds On The Compass Platform.
10% Will Be Held In Reserve.
Sale of tokens are to raise funds for platform development