Drinking list
GN Compass

GN Compass provides Cryptocurrency-Backed Loans ™ to create constant liquidity in the lending market. This is accomplished by allowing investors to sell portions of loans in their portfolio. Investors are not locked in to the term of a loan and can liquidate loans for any reason (E.g. financial hardship, increased GNCT price etc.) only after a certain no-trade time period has been reached. The buying investors will reap the benefits of the loans being paid back by borrowers while the selling investor still makes a profit. By using blockchain technology to verify and distribute all transactions across the Ethereum network, it guarantees transparency. People are getting lost in the current financial system. Let Great North Compass be your guide to creating value utilizing blockchain technology. GN Compass is a lending system where investors and borrowers can exchange value. With their Cryptocurrency-Backed Loans ™, Compass offers investors good returns on investment plus added security on all funds invested.

GN Compass, is a peer-to-peer lending platform for Cryptocurrency-Backed Loans ™. Investors invest funds into a pool at a certain interest rate with the invested amount bein  backed by Compass tokens(GNCT). The invested amount is then disbursed to Borrowers. Borrowers pay loans (principal plus interest) back to the Lenders. All transactions are verified and distributed on the Ethereum Blockchain.

Solution to Lending Issues

GN Compass provides Cryptocurrency-Backed Loans ™to create constant liquidity in the lending market. This is
accomplished by allowing investors to sell portions of loans in their portfolio. Investors are not locked in to the term of a loan and can liquidate loans by selling the GNCT backing their loans to other investors thereby allowing the new investors to reap the benefits of the loans while making a profit. By using blockchain technology to verify and istribute all transactions across the network, it guarantees transparency.

How it works for Investors

Investors simply sign up and create their profile and investment portfolio. The investment portfolio page will ask the Investor about their investment goals such as retirement planning, preferred repayment cycle (e.g. To have investment re payments deposited to their account on a certain day per month). This is where they will input the amount they are looking to invest and the interest rate they are looking to receive plus the length of time they are looking to invest for. Once the profile is complete and the Investor is happy with their investment settings, they will then be required to add their banking information into their secure payment system. From there, the Investor will be assigned a secure digital wallet attached to their bank account where all the transfers and payments will be made. The Investor investments will then be sent to a loan pool to fund loans. When loans are being repaid the GNCT backing the loans will be adjusted accordingly.

Compass Token (GNCT)

All loans will be backed by Compass tokens (GNCT). The tokens will represent the amount invested. This does not include the potential interest amount the Investors will receive. If Borrowers default on a loan over a certain period, the tokens will be automatically exchanged and the fiat currency the Investor originally invested with (e.g. US dollars) will be deposited into the Investors’ wallet. The Investor can then choose to reinvest or transfer funds from their wallets back into their bank accounts.

Token Advantages

– Token buyers are protected by anti-scam systems.
– Funds will be refunded to contributors in case of failure to reach targets.
– Bonus tokens for early buyers.
– Loans on the GN Compass platform will only be backed by GNCT.
– Tokens will increase in value as Cryptocurrency-Backed Loans create liquidity in the lending market.
– Investors can buy and sell the tokens backing loans only in GNCT.

 

If you want more information, visit the WEBSITE and read the WHITEPAPER.

No comments so far!
Leave a Comment