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LendsBay

ICO Ended
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The LendsBay system creates a new approach to loans between people, solving the problems such as: No formal loan records: disputes arise about repayment dates, terms and conditions; no reminders are sent; No contract: there is no mechanism for judicial enforcement of debt repayment; No market-based mechanism for determining interest rates: the market is either larger or smaller than its potential; No tools for risk management: no credit rating, diversification, insurance.
⠀ ⠀
We offer the following step-by-step solution to the above-mentioned problems: Creating an app to manage loans between relatives, friends and acquaintances: the app is used to find a lender and then to record, document and administer (e.g. send out reminders) the loan; Creating social groups (so-called bays) to pool financial resources through mutual lending, e.g. there are social groups centred around work, universities and social clubs that already have a certain level of trust, common values and a high degree of social control, not to mention little tolerance for irresponsible behaviour; Creating a blockchain to store individuals' credit-rating information (LBR); Using the blockchain for any financial transactions between individuals (non-credit assessment) (LBU); Developing the elements of an ecosystem for financial relations: mutual insurance; purchasing, selling or leasing items; and decision-making systems.

LendsBay team have already developed a functional and ready-to-use alpha version of the application.
9.1
TOTAL SCORE
9.6
ICO PROFILE

(weight: 45%)

8
SOCIAL ACTIVITY

(weight: 35%)

10
TEAM PROOF

(weight: 20%)

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General
Website: Visit
White paper: Read
Bounty: Bounty
Pre-sale Time: 18 June 2018 - 29 July 2018
ICO Time: 18 Sept 2018 - 29 Oct 2018
Country: Russia
Token info
Ticker: LBT
Platform: Ethereum
Token Type: ERC20
Available for sale: 75,000,000 LBT (75%)
Total supply: 100,000,000 LBT
Financial
ICO Price: 1 LBt = 0.0006 ETH
Accepting: ETH, BTC
Soft cap: 250,000 USD
Hard cap: 1,500,000 USD
Bonuses: Up to 50%
2016-2017
Createding a web prototype.

Market research.

UX testing.

Builtding a financial model.

Developed the server and user part of the application.
JUNE 2018
Conducting a pre-ICO.
JULY 2018
Release of the beta version of the app for Android/iOS.

Developing the legal component (loan agreements, lawsuits, debt collectors).

Establishing ratings and pricing mechanisms.
SEPTEMBER 2018
Carrying out an ICO.

Converting tokens, connecting to the app.

Adaptation for Telegram.

Connecting to a credit bureau.

Connecting to telecoms/online credit history providers.

Entry into the UK and US markets.
MARCH 2019
Creating social groups: Co-workers/University.

Linking to a payment system.

Implementing the social ratings system (proximity rating).

Implementing the behavioural ratings system.

Creating an API.

Entering developing markets.
SEPTEMBER 2019
Implementing the blockchain ratings system (LBR): distributed accounting and storage of ratings data.

Constructing a ratings model based on multiplicity of data.

Providing the suppliers of goods and services with secure access to the ratings system data to create their own ratings.

Granting financial organisations secure access to ratings data.
FEBRUARY 2020
Creating a universal rating for economic relations (LBU).

Creating various ecosystem elements.

Building a consolidated ecosystem of transparent relationships.
Screenshots taken on 22 Jul 2018
Alexander Koptelov
Founder, CEO
Takes part in this project only
Anton Gazizov
Founder, CFO/IR
Takes part in this project only
Andrey Cheremkhin
Founder, COO
Takes part in this project only
Lyudmila Lukashova
Founder, Risk
Takes part in this project only
Vladimir Gorbunov
IT
Takes part in this project only
Daria Batamirova
Marketing strategy
Takes part in this project only
Kristina Shilova
SMM
Takes part in this project only
Angelica Phillips
UK Market
Takes part in this project only

Advisors (4)

Murat Yenikeyev
Risk adviser
Takes part in this project only
Alexey Khaliullin
Advisor
Takes part in this project only
Andrey Lukashevich
Advisor
Takes part in this project only
Evgeny Kaplin
Advisor
Participates in several projects
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