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Socal @Socal_crypto
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Yet ANOTHER Quick and Dirty Breakdown:
As some of you may have learned recently traditional financial institutions tend to treat us crypto people as persona non-grata and refuse us services like home loans even if we have great credit scores and massive cash down payments.
So today I'm breaking down @TheVivaNetwork. Viva aims to bring transparency and innovation to the Home Financing market through leveraging decentralized funding and blockchain technology, making it cheaper, faster, and easier to buy a home securely.
Basically it works like this, each user that signs up is given a unique V-ID and after completing several forms you are granted a V-SCORE. Viva tokenizes fixed assets, like a home, allowing them to divide them up into thousands of pieces called fractionalized mortgage shares
or FMS. So when a homebuyer goes to get a mortgage-using Viva, thousands of investors from all over the world can crowdfund the mortgage and in turn those individuals earn the interest on the loan rather than the bank.
This lowers interest for homebuyers and allows individuals to invest in mortgages, a highly profitable and safe investment, for the first time. Owners of FMS will also be able to buy and sell their FMS on the Viva FMS exchange, which will work like a crypto exchange
It’s important to note that Viva provides investors with complete safety in the scenario of a default by underpinning the loans with mortgage insurance.
This means, if someone were to default on their loan, the mortgage insurance contract would execute, and lenders would receive the promised amount directly from the insurance company.
Since this is obviously a highly regulated and involved market I HIGHLY suggest that you read their Whitepaper.
“A free market that pairs lenders with borrowers who enter into an uncomplicated, unlevered mortgage agreement avoids the problems that led to the 2008 crisis.” – Viva Whitepaper
All services provided by the Viva platform such as Mortgages, Home Valuations, Fractionalized Mortgage Shares, etc, will be denominated in and exclusively purchasable with Viva tokens.
Total tokens 4 Billion
Round 1 cap (30 days): 6,870 ETH
Round 2 cap (60 days): 68,770 ETH
Total Hardcap: 75, 640 ETH
TGE Breakdown:
75% - Crowdsale
10% - Reserve Fund
7.5% - Team (vested for 12 mo via SmartContract)
3.75% - Advisors (vested over 3 mo via SC)
3.75% – Marketing
All in all I find Viva at least worth looking into. I again highly suggest you read their whitepaper and #DYOR
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