Homelend ICO is a Block Chain platform that is trying bring the revolutionary technology into the mortgage lending space. Doing so will bring an archaic system into the modern world while making it more user-friendly, efficient and cost-effective. Homelend can also help bring the younger generations into the housing market and keep the core fabric of our society strong. According to ICO the mortgage market is growing bigger than ever, but still follows archaic processes which are hardly efficient.
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What Is the Homelend ICO?
Homelend brings Block Chain Technology to the mortgage industry, aiming to help both lenders and borrowers. With the platform, the team hopes to resolve issues currently plaguing mortgage lending, including a reliance on paper methods and the use of intermediaries, which increase costs and slow down the process. According to ICO Homelend has the potential for success thanks to the large size of the mortgage lending market and its ability to solve a problem many potential homeowners experience.
Token and When Is the Sale?
The HMD token is the fuel that drives Homer’s peer-to-peer lending platform. Its main functionality is to provide access to the Homelend platform. This utility token also plays an instrumental role in enabling a fast, seamless, easy-to-use and easy to use workflow. According to ICO all tokens can be converted to and from HMD. It is largely impossible for new young borrowers to get a mortgage with the current system. This excludes millions of individuals who are creditworthy from getting a mortgage just because of the system’s assessment criteria that the Homelend team sees as outdated.
The Homelend token, HMD, powers the platform. The main functionality of the token is providing platform access. It also is important in allowing for the user-friendly, quick, and smooth workflow. It is possible to convert all tokens to or from HMD. There is a total supply of 250 million HMD, and it is an ERC-20 token.
The dates for the crowdsale are to be announced, but the presale began on March 1, 2018. The tentative start date for the public sale is June 2018. During the sale, the HMD token’s face value is 1 ETH for 1,600 HMD, and Homelend will accept ETH, USD, or BTC for purchases. There is a soft cap of $5 million USD and a hard cap of $30 million USD. There will also be bonuses for purchases made with ETH. The first week of the sale will include a 20 percent bonus, which drops to 15 percent the second week and 10 percent the third week.
Homelend works by first bringing the two parties of borrowers and lenders together, without extra middlemen. Then, by utilizing distributed ledger technology (DLT) and smart contracts, the entirety of the process is streamlined. The result is an efficient, cost-effective and safe way to efficiently borrow and lend money for the purpose of buying a home.