back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

SmartFi raises $10M in Token sale using ground-breaking Financial Model

By Edlyn Cardoza

October 14, 2021

  • Asset Management
  • Bitcoin
  • Blockfills
Share

SmartFi, SmartCycle, USASmartFi, the open lending cryptocurrency platform launched in July 2021, has raised over $10 million in the first two weeks of its unique SmartCycle token sale. Token purchasers buying over $1 million in SmartFi’s SMTF tokens apiece include Blockfills and a consortium from the software development team behind the Komodo Platform

The first 8m SmartFi Tokens sold out in 24 hours for $.70. The current price is $1.29, which is an 85% price increase via the SmartCycle model. SmartCycle is a unique index that charts the release of SmartFi tokens to fund loan demand; the more loan demand, the higher the token’s price. Under existing loan demand, the index forecasts a token price of $8.14, an increase of 575% from the current price.

Because of the new unique financial model, SmartFi can provide a 100% buy-back guarantee of the original purchase protecting SmartFi token buyers; the same feature also enables the SmartFi token to resist bear market downturns. This DeFi model provides better, safer financial value than most other platforms, yield farming, staking, coin interest accounts and liquidity mining.  

In-process demand for SmartFi’s loans has reached over $190 million, and these will be released to SmartCycle when the loans are approved. Some token sale participants have funded their purchase of the SMTF token by borrowing against their Bitcoin; this preserves the value of their Bitcoin assets and gives them the new value of the SMTF token. The success of the SmartCycle has allowed SmartFi to compete with traditional lenders like banks, funding non-crypto related loans, including the first $2 million in traditional small business loans. These borrowers do not know that their loans are funded by cryptocurrency value. 

SmartFi CEO Aaron Tilton commented: “We believe that when the average person’s financial dealings are impacted by cryptocurrencies unknowingly, that is when the true potential of cryptocurrencies is unleashed. SmartFi is doing just that: competing with traditional lenders to provide dollar loans, using crypto as the underlying asset.”

Previous Article

October 14, 2021

Loan Market selects GBST Digital to deliver 21 financial calculators to over 1500 mortgage broker firms

Read More
Next Article

October 14, 2021

Centrum and BharatPe set to build India’s first digital small finance bank

Read More










IBSi Daily News Analysis

5G, India, Telecom

August 09, 2022

Asset Management

The 5G race has begun in India; how will it affect payments?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

auxmoney secured €500m in funding to invest in consumer loans

Read More

Today

iDenfy collaborates with Peccala to prevent its customers from fraud

Read More

Today

Grizzly.fi announced collecting $26m in its Community Fair Launch

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022