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?
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.
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.
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.
Face Value………………..1 ETH= 1,600 HMD
Accepted Currencies…BTC, ETH, USD
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.
2016= The Homellend Founders Launch the project with the incorporation of a new company.
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.
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.
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