Hi Guys ! all of you know I always bring you the information about good crypto related projects through my blog. So today I'm going to introduce you a new cryptocurrency based project called #ABLE
INTRODUCTION
Existing cryptocurrency banking services provide deposits and loans separately rather than linking depositors and borrowers. The services have shortcomings such as inability to provide high deposit interest rates in a sustainable way. Such services cannot mitigate or eliminate intermediary risks because their structure is based on a centralized model.
What is the purpose of this project?
Based on above situation, The ABLE project goals to apply decentralized blockchain technology to financial and wealth management features; to directly link demand and supply through an account on a peer-to-peer basis; and to establish a reliable system (ABLE account). It purpose subsequently to build an in-house decentralized exchange, and then to evolve into a platform on which to develop and use smart contracts for finance and wealth management services.
The ABLE project would create a platform that enables cryptocurrency based financial activities to center around the ABLE account, emanating from the fact that banking activities are carried out primarily through bank accounts. Users request deposit and loan interest rates through a matching system, eliminating the lending-deposit spread by directly connecting users on a peer-to-peer basis. The ABLE project supports decentralized cryptocurrency and provides decentralized exchanges wealth management services through smart contracts. In the future the project aims to evolve into the ABLE Ecosystem through its integration with external systems, including simple payments.
Why ABLE?
The ABLE project allows both depositors and borrowers to make a deal on the proposed interest rate without an intermediary. Solves the problem of current banking services with spread margin and centralized cryptocurrency financial services. Develops a matching system that connects depositors and borrowers to provide reliable banking solutions and investment platform on ABLE DEX.
We need a decentralized exchange through which cryptocurrency assets can be traded in order to develop wealth management and finance smart contracts. Currently, most cryptocurrency investments are made through arbitrage trading at centralized exchanges or ICO participation with personal wallets. However, through ABLE DEX, they can eliminate the risks of centralized exchanges and allow for wealth management.
Through the ABLE account, they can create a platform that makes a variety of investment products accessible. On the ABLE network, they will create an environment where various smart contracts and Decentralized Applications (DApps) can enable the development of the ABLE Ecosystem.
SMART CONTRACT FOR WEALTH MANAGEMENT
They develop the smart contract frameworks necessary to manage funds, such as trading strategy generators, and portfolio analysis tools. Fund-management service fees will attract investmentproduct developers and create an ecosystem that will:
- Allow creation of a variety of technical indicator-based trading strategies.
- Create a systematic wealth management environment by providing smart contracts that enable
portfolio construction and performance analysis tools.
FINANCE SMART CONTRACT
A big portion of financial activities such as credit-card payments, automatic transfers of utility and service charges, and mileage programs will be integrated into the cryptocurrency space. Extending the scope of practical application based on a variety of partnerships with third-party services, including micropayment, will strengthen the ABLE ecosystem. In the future, a majority of economic activities will be integrated into the cryptocurrency space by cryptocurrency finance
ABLE COIN/ABLE DOLLAR
ABLE currency consists of ABLE Coin and ABLE Dollar. ABLE Coin is used as a service charge for using the ABLE system, and ABLE Dollar is used for interest payment. ABLE Coin and ABLE Dollar can be exchanged.
ISSUING ABLE COIN/ABLE DOLLAR
The amount of ABLE coins initially issued is 25 billion, and the token decimal unit is 18. Validation nodes will be operated on a PoS basis. The additional inflation rate through initial PoS-based operation is 15%, which will converge into 5% in the long run. Of the outstanding tokens, 15 billion will be distributed to the general public and 10 billion will be assigned to related parties. The initial amount of ABLE Dollar issued is 1 billion. To ensure minimum volatility, no additional ABLE Dollar will be issued.
CONCLUSION
The ultimate goal of ABLE is to provide users with a great user experience, while simultaneously allocating value to ABLE through all the benefits described above. In finance, the project aims to create a systematic ecosystem and develop a better user-accessible system by applying blockchain technology to any area deemed necessary. ABLE intends to integrate into one system all the financial solutions currently dispersed across the blockchain market, by offering a solution to existing banks’ problems, and an alternative to centralized deposit-lending systems.
The P2P investing-lending system, which is the core of the ABLE project, is particularly significant because it creates personalized accounts for cryptocurrency assets. Existing micropayment and fund solutions suffer from numerous shortcomings due to the lack of an integrated account, and users have substantial trouble using those solutions. Additional solutions will be created in the integrated system to provide various services to users through their account designed for them.
Token Terms
| Initial issuance | 25,000,000,000 | ABLE |
|---|---|---|
| Public Sales | 15,000,000,000 ABLE | 60% |
| Reserved | 3,750,000,000 ABLE | 15% |
| Team Incentives | 2,500,000,000 ABLE | 10% |
| Foundation | 2,500,000,000 ABLE | 10% |
| Martketing & Strategy Partners | 1,250,000,000 ABLE | 5% |
Currency Accepted : ETH
Further Information:
Want to know more about the Eloncity project? Take a look at their official website and their soon to be released whitepaper for more information. Also subscribe to their official communication channels to stay up to date. Any questions, feel free to comment below.
Bitcointalk username: Huan00087