Overview

  • Country USA, Japan, South Korea
  • CategoryFinance/ Fixed Income Industry

FIC Network is a blockchain-based, end-to-end, decentralised fixed income assets network that enables the listing, exchange, securitization, and redemption of fixed income financial instruments.

Project stage

Prototype

Detailed description

FIC Network is an end-to-end decentralized fixed income securities network that enables the listing, exchange, and securitization of fixed income financial instruments. FIC Network is an asset-agnostic, multi-currency distributed ledger primarily focused towards institutions using traditional currencies and adapting to cryptocurrency markets. Crypto hedge funds and traditional asset managers will greatly benefit from cost savings and expanded market opportunities.

Problem

  • Existing crypto tokens are operating as currencies or stocks and there is no real fixed-income offering. As the crypto markets mature, earning interest on your assets and paying interest to borrow assets will become the largest financial market in crypto beyond currencies and securities.
  • Conventional fixed income security markets based on centralized third parties are known for many inherent drawbacks in terms of friction, illiquidity, lack of interoperability, asymmetry of information and operational risks. On the other hand, these markets only support fiat currencies and there is no such market for the cryptocurrency space, which is growing at a rapid pace.

Solution

Team has been building the network since early 2016, attracting seed funding from three institutional investors: Boost VC, Startupbootcamp Fintech NYC, Bialla Venture Partners. We are building a blockchain-based fixed income market that will operate similarly in concept to the traditional systems, but will reduce costs, operational friction, and risks along with improved audit-ability and transparency.

This technology will allow the users to list, buy, and sell any type of fixed income securities/financial instruments, including loans, bonds, collateralized loan obligations (CLOs), asset-backed securities (ABS), syndicated loans, credit default swaps (CDS), and futures.

The network is primarily meant for financial institutions such as crypto asset managers, banks, investment banks, lending companies, hedge funds, credit funds, insurance companies, family offices, and corporations, as well as for service providers like valuation firms, auditors, law firms, and ratings agencies. The solution will be opened to individuals in later iterations. This will also open the door to a cryptocurrency fixed income market, a growing need in the crypto space.

Features

FIC Network is an end-to-end decentralized fixed income securities network for crypto economy that enables the listing, exchange, and securitization of fixed income financial instruments denominated in crypto or fiat currencies thus merging both markets. Participants will be able to issue and trade Asset backed securities, Credit, Corporate Bonds, Collateralized Debt Obligations, Credit default swaps, Futures and Options.

Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : EFIC
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 16,000,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :3,500 ETH
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :633,000,000 EFIC
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :316,500,000 EFIC
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Open(Start Mar 19, 2018)
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BCH, BTC, ETH, LTC,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :USA,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    Apr 06, 2018

    Unsold tokens

    NA
      • Token Distribution

        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Public sale — Ended
      Start Soon
      0.1 USD No - Uncapped 16,000,000 USD
      Pre-sale — Ended
      18 Jan 05:56 UTC
      15 May 05:56 UTC
      0.1 USD 30% - 70% Min 10000 USD Uncapped 16,000,000 USD
      Private sale — Ended
      Start Soon
      0.1 USD 35% - 70% Min 10000 USD Uncapped 3,500 ETH
      Public sale

      USD = 1 eFIC Hardcap (shared with all presale/crowdsale tiers): 16,000,000 Crowdsale ends when hardcap is reached earlier.

      Pre-sale

      Presale Tier 1 price: 0.1 USD = 1 eFIC plus 30% bonus. 

      Additional lock-up bonus (optional, stacks with tier bonus, locks all tokens purchased): 90 day lock-up: 35% bonus, 180 day lock-up: 70% bonus. 

      Min: 10,000 USD Hardcap (shared with all presale/crowdsale tiers): 16,000,000 USD ICO ends when hardcap is reached. The team will announce which tier is currently active.

      Private sale

      Private sale Wave 1: 0.1 USD = 1 eFIC plus 60% bonus. 

      Private sale Wave 2: 0.1 USD = 1 eFIC plus 45% bonus. 

      Additional lock-up bonus (optional, stacks with wave bonus): 90 day lock-up: 35% bonus, 180 day lock-up: 70% bonus. 

      Min for private sale: 10,000 USD 

      Private sale cap (shared with all private sale tiers): 3,500 ETH Immediately ends private round and starts presale round once private sale cap is reached.

      Read more about vesting and bonus
      • Team

        • Arturs Ivanovs photo
          Arturs Ivanovs
          Founder/CEO
        • Alvar Soosaar photo
          Alvar Soosaar
          Co-founder/COO
        • Aigars Staks photo
          Aigars Staks
          Co-founder & Senior Fic Network Architecture Advisor
        • Kalvis Kalnins photo
          Kalvis Kalnins
          Co-founder, Software Developer
        • Anatoly Ressin photo
          Anatoly Ressin
          Interim Head of Technology
        • Agnese Kerubina photo
          Agnese Kerubina
          Chief Scientist & Product Support Manager
        • Peteris Ratnieks photo
          Peteris Ratnieks
          Back-end & Blockchain Developer
        • Aleksandrs Borovenskis photo
          Aleksandrs Borovenskis
          Head of Communications
        • Valters Grisans photo
          Valters Grisans
          Lead Designer
      • Advisors

        • Joseph Guagliardo
        • Matiss Ansviesulis
        • Angel Colon
        • Ismail Malik
        • Jon Chou
        • Marcus Spillane
        • Anthony Georgiades
        • Joon Pak

      Roadmap

      • Q2 2016
        • Prototype idea drafted
        • Factury Inc. Delaware IncorporatedFactury Inc. Delaware Incorporated
        • Startupbootcamp NYC TOP10 team worldwide
      • Q3, 2016

        BoostVC, the World's leading blockchain accelerator, invests

      • Q1 2017
        • Bialla Venture Partners invests
        • European reach: subsidiary formed
        • Full time team
      • Q3 2017

        Testnet App Alpha version

      • Q4 2017

        Newblock fund fintech angels invest

      • Q1 2018

        Token Sale

      • Q4 2018

        FIC Network App Launched

      Activity