BridgeX will be a guide for cryptocurrency holders in the world of financial services. One of the problem of crypto-currency holders is to obtain recognition of cryptocurrency as a real asset in order to have possibility to lend on the basis of income with cryptocurrency and make a deposit with their help. BridgeX will be a framework of financial system of decentralized lending. With the help of this system, lending will be carried out in the future. BridgeX Network will not only bring blockchain into financial system, but also integrates the traditional financial services supported by fiat currency into blockchain industry. The first proof of this concept will be distributed applications on the BridgeX Network core, and these applications will be able to reveal the potential of the platform and prove its effectiveness.
BridgeX Network is:
- Decentralized financial ecosystem
- P2P trading platform
- No checks of credit history, your status is assessed only by your creditworthiness at the moment.
- A single platform interface for convenient and fast use of DApps.
- Built-in exchange of crypto-to-fiat pairs with support for more than 30 types of these.
- The possibility of local loans using local currency.
- A support of transactions in any sources, such as crypto wallet or national bank.
BridgeLoan
The BRIDGELoan element is made on the Ethereum blockchain and is responsible for providing credit services using the crypto-to-crypto model. This module will allow depositing the holder's cryptocurrency as collateral for loan, so that its funds become liquid. BRIDGELoan is responsible for automatic and secure transactions between lenders and borrowers.
BRIDGEConvert and BRIDGESend
These two modules work together with BRIDGEPay and are responsible for the exchange operations of cryptocurrency to fiat with support for more than 30 fiat currencies. And also they provide easy access to international transfers.
BridgeX Network Token
Function of the token
- Access to platform services. Users of the platform and distributed applications of BridgeX, service providers, integrators and their users will be able to access BridgeX services by purchasing the BXN tokens.
- Membership in BridgeX Network. The BridgeX network will have a multi-level membership system with a limited number of participants, as well as the benefits to stimulate the formation of capital in BXN tokens.
- Bonuses for using BXN:
- Discounts for transactions. When paying for BridgeX services using BXN tokens, users will be given a discount. Discount will also be given to those who pay for other approved cryptocurrencies such as Ethereum. In this case, the discount will be calculated based on the difference between the BXN prices and the paid currency. The discount system will work in the form of a progression and eventually after reaching a certain number of BXNs in your wallet, some services will become completely free.
- If BXN is chosen as the settlement currency in loan, creditors are given a commission-free placement of their offer.
- If BNX was used as collateral, borrowers are provided with a commission- free loan. An additional bonus is an increase in the authorized loan amount by 5%.
- If BNX is listed in your mortgage portfolio, then preferential lending rates become available to you.
- Loan repayment is possible with the help of BNX, other cryptocurrencies or fiat currencies with the transfer of the current balance to the BridgeX wallet.
- All tokens collected in the form of a commission will be periodically destroyed.
- For the use of the system, participation in public movements and attraction of new users to the network, bonus points will be awarded, these points in the future can be exchanged both for purchasing cryptocurrency and for the discount coupons of the BridgeX system.
- All the BridgeX ecosystem partners will receive BNX to provide a responsive BNX utilisation system.
Allocation of BNX
30% of the total number of tokens, 1 billion, will be sold during the ITO, 35% will be to provide a pool of liquidity, 15% - allocated among the partners of the program and the last 20% - allocated among the members of the project team. The ITO hardcap is 18,000 ETH, the price of a token will be 0.00006 ETH. During the sale 300 million tokens will be allocated.
Allocation of funds
Revenue from the ITO will be allocated as follows: 15% will go to costs in the form of legalization, compatibility, payment of taxes and administration. 15% will be spent on business development. 10% are to pay for the marketing campaign. 10% are to support operations. 20% are to develop the BridgeX network and platform. 30% will go to the pool of liquidity.
Conclusion
The BridgeX Network project will be the next step to popularization of blockchain technology, as users not only benefit from blockchain technology in the form of a stable, secure, transparent, honest, automatic and independent system, but also don’t lose access to the usual financial services conducted with the help of fiat currency. At the same time, developers leave the possibility for developers to disclose their distributed DApps applications based on the BridgeX Core in order to further create new and innovative solutions to the financial problems of the modern world. The BridgeX Network project will become a real bridge between the financial industry of the blockchain and the traditional lending system. What will improve the lives of all users of the BridgeX Network system, which previously had difficulties with bank lending systems due to the form of their deposit in the form of cryptocurrency.
Website: https://bridgex.network/
Whitepaper: https://bridgex.network/180827%20BridgeX%20Network%20Whitepaper.pdf
Telegram: https://t.me/bridgexnetwork
Antiplagiat: https://text.ru/antiplagiat/5b9b58562ebc6