Homelend’s P2P mortgage lending mechanism
Peer-to-peer (P2P) lending, also known as “alternative finance,” is the process by which individuals can borrow and lend from each other without the intervention of banks or other financial intermediaries. Homelend P2P platform works by embedding mortgage lending business logic into smart contracts. This is the platform’s core functionality. By creating a set of smart contracts that execute business processes, Homelend allows individuals to borrow money from their peers in a trusted, transparent, and secure way. The key idea is that borrowers and lenders are not linked by means of a financial intermediary (i.e. a bank or a centralized P2P lending platform), but rather by smart contracts that automatically execute a pre-defined business logic.
How does the Homelend platform work?
Homelend connects borrowers and lenders in a unique way, controlled by smart contracts, without involving middlemen. Borrowers will apply for mortgage loans through Homelend’s platform. These applications will be assessed and pre-approved (or not) with the help of artificial intelligence and machine learning technology. Then, individual lenders will be able to fund pre-approved loans by buying “slices” of them. All processes will be controlled by smart contract protocols, rather than by human beings. In Homelend’s platform, the collection of information is performed in an “all digital” way. Even the data residing in paper-based documents must be transferred to a digital repository based on distributed ledger technology. This data is provided by the user and double-checked through professional verification providers.
Financial flows
In Homelend, the flow of financial resources from the lenders to the borrowers (and, ultimately, to the sellers) is executed purely by smart contracts. There is no financial intermediation, control or decision-making by Homelend.
After a buyer receives preapproval from the system, regarding a specific property, the corresponding mortgage loan is “listed” in Homelend’s platform. By then, the borrower has committed a specific down payment, and the mortgage amount is determined.
Business Model
Homelend is being developed as a blockchain solution that will significantly increase the housing financing possibilities for many individuals and families. Our value proposition is socially sensitive and anchored in a P2P progressive approach that aims to use technology for society’s benefit. Nonetheless, Homelend is also based on a sound and profitable business model, which consciously reaches out to address an underserved market. On the one hand, Homelend creates an investment opportunity for many individuals, with a solution that unites a traditional industry as real estate, with an innovative technology like blockchain. On the other hand, it makes possible for many individuals (who due to various circumstances, including current limitations in the traditional credit risks models, do not possess a solid credit score but are otherwise creditworthy) to access to housing financing and solve one of their most basic aspirations: having a home of their own.
homelend image
Token supply and distribution
The total number of HDM tokens to be issued in the Token Generation Event (TGE) will be 250 million.
Of this total supply, 50 million HMD token (20%) will be held in a reserve fund, and 200 million HMD tokens (80%) will be in circulation. The face value of each HMD token will be 1 ETH = 1,600 HMD.
Symbol………………………..HMD
Total Supply…………….250,000,000
Standard……………………ERC-20
Face Value………………..1 ETH= 1,600 HMD
Accepted Currencies…BTC, ETH, USD
Softcap………………………..US$ 5,000,000
Hardcap………………………US$ 30,000,000
Apart from the 50 million HMD tokens held in reserve, the 200 million HMD tokens to be initially in circulation will be distributed as follows:
20 million (8%): Founding team
20 million (8%): Advisors & Bounty
70 million (28%): Pre-Sale
90 million (36%): TGE Public Sale
Pre-Sale…………………..March 1, 2018
The public sale is expected to take place in August, 2018.
Roadmap
2016= The Homellend Founders Launch the project with the incorporation of a new company.
2017
The Founders Bootstrap the project with $1 million in contribution.
A team of experts in technology and finance join the company, design of the platform’s concept and architecture begins.
A First MVP is completed, based on client server infrastructure.
A Second MVP is released, based on distributed ledger technology.
2018
DMC homelend AG is incorporated in ZUG, SWITZERLAND
Business and Technical whitepaper are completed.
Token Generation Event (TGE) pre-sale phase begins
TGE public crowdfunding will be conducted and completed.
Additional technology and finance experts will join the company.
Homelend’s beta version will be completed and the token’s basic functionalities will be operational for early adopters, under the pure crowdfunding lending mechanism.
Development of Beta version for pooling and auction lending mechanism will begin.
2019
Development of smart agent for investment abilities in Homelend’s platform will begin.
Homelend’s platform will expand to new markets.
Some Important Links of Homelend
Website= https://homelend.io/
ANN Thread= https://bitcointalk.org/index.php?topic=3407541
Whitepaper= https://homelend.io/files/Whitepaper.pdf
Facebook= https://www.facebook.com/HMDHomelend/
Twitter= https://twitter.com/HomelendHMD
Telegram= https://t.me/HomelendPlatform
Reddit= https://www.reddit.com/r/Homelend/
Linkedin= https://www.linkedin.com/company/18236177/
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My Bitcointalk Username= Mungurul
Bitcointalk Profile= https://bitcointalk.org/index.php?action=profile;u=1014315
Myetherwallet= 0xf6cd3f4FB6ff269271FC56C205C5b0a8b2Cc3650