Loanex - ICO Review

Loanex: New Platform For Crypto Microlending


Loanex is a peer-to-peer lending and investment platform built and deployed by a team of Indian and Russian specialists to facilitate access to digital assets and the corresponding financial services for users around the world.

It appears that the project hasn’t been registered yet in any jurisdiction, though there is a statement in the whitepaper regarding team’s intention to establish a legal entity in Switzerland with further plans to expand to Singapore, the US, Hong Kong, Germany, and Australia. Loanex introduces the ERC-20 token with a ticker LOA which will be a primary instrument for lending and investment and will be tradable once it gets listed on cryptocurrency exchanges.

The concept of Loanex


Loanex will provide future users with an opportunity to borrow, lend, and exchange cryptocurrencies, peer-to-peer on a single platform. The use of blockchain and smart contract afford borrowers the possibility to accurately assess the terms and conditions of a loan and assure themselves of the absence of hidden fees and fines. Lenders, on the other hand, check the borrowers’ reliability and solvency thanks to the unique credit rating system developed by the team.

Loanex will also establish a safety fund to provide partial insurance on borrowed funds. The insurance will cover from 20% to 75% of the principal amount of the loan, depending on the borrower’s credit score. In addition, Loanex will exercise the function of a payment platform, with subsequent integration of a proprietary cryptocurrency exchange. 

The Loanex team


Guy Tan. The founder and CEO. Unfortunately, we were unable to find any valid information about the project founder in the project’s whitepaper or outside sources. The only thing that’s known is that Tan currently resides in Singapore.

Trent Shaw. The co-founder and COO. Shaw has a vast experience as a business development manager and commercial director, obtained while working for numerous Australian companies. Apart from Loanex, Shaw has also co-founded a company called Emanate.

ICO details


The sale of LOA tokens is going to be carried out in one phase, which is due to begin on November 15 and stay live until December 15. The total of 10 million LOA tokens will be allocated for this sale. The ICO price of 1 LOA is $1, though the project also introduces a substantial discount to those who buy tokens in bulk. The percentage of the discount will depend on the amount of raised funds at a given moment.

  1. Investors will be eligible for a 50% token discount for a period until Loanex sells $1 million worth of tokens;
  2. 30% discount will become applicable after passing the $3 million threshold;
  3. 15% discount will remain valid until the raised amount exceeds $6 million.

Although Loanex has established a softcap at $2 million, the project’s whitepaper states that the investors will get a refund in case the project fails to raise $1 million. Should this barrier be passed, Loanex promises to engage in the development of the platform that will operate solely in the microcredit mode. In case of an excellent outcome of the token sale, which would mean surpassing the hardcap of $10 million, Loanex will continue developing a fully-fledged loan platform, along with establishing cooperation with the arbitrage firms. Moreover, the project will create a safety fund that will accommodate 20% of the money raised through the ICO. LOA tokens can be purchased using BTC, ETH, and USD. There’s no specific information about the restricted countries.  

Author: Alex Paulson for Crypto-Rating.com

ICOs that might interest you

We list the most relevant upcoming crypto market ICOs from the industry leaders


Zeux
Zeux

Token sales are once again becoming increasingly popular, which started with the crypto price recovery earlier this year. The popular model, ICO, was believed to be extinct back in 2018, when the crypto winter made investors increasingly suspicious and unwilling to fund new tokens and coins.

6 days left

HEROIC
HEROIC

HEROIC is another project that has taken up the task of combining the blockchain technology with artificial intelligence to create a solution for protection against numerous cyber threats.

13 days left

Monart
Monart

Works of art have traditionally been perceived not only as a source of aesthetic pleasure but also as a store of value. This made art one of the biggest markets in the world with the estimated sales volume of $67.4 billion, as per this year’s report published by Art Basel.

30 days left

DogData
DogData

DogData is an Estonian based kennel organization built by a team of talented individuals united by a passion for modern technological capability and Dogs...

30 days left

 Loanex
StartAugust 21, 2019
EndOctober 31, 2019
Expired

Frankly speaking, I’d be amazed if Loanex manages to reach the hardcap. The reason behind my doubts lies not in the unattractiveness of the project, though I must admit that it’s hard to impress anyone these days with an idea of a blockchain-based microlending platform. It’s their lack of marketing efforts that concerns me. I’ve found out about Loanex by accident despite being a real ICO geek. None of my friends knew about it, and Loanex’s media presence is far from being strong.

CoinNinja   September 24, 2019  


Add/Read Reviews

Top ICOs

ICOs Rating Days left
1 DogData 5 30
2 2local 5 61
3 SerenitySource 5 90
4 Geco.one 5 90
5 Tycoon 5 91
6 Pawtocol 4.9 62
7 Curate 4.9 83
8 Ledder 4.9 91
9 IdeaFex 4.9 624
10 2GETHER 4.8 91
11 DIPChain 4.8 272
12 Tixl 4.8 272
13 Mindsync 4.7 272
14 PointPay 4.7 294
15 Cinemadrom 4.6 60

ICOs rating