What is UNION ?
Union is an Indian company targeting Indian market, of approximately 400 Million Millennial, and market size is around 200 Billion USD. However, given the public ledger system of our blockchain technology, the platform is available for use by lenders all over the globe.
Union has established expertise in offline community lending system and as well in generating online ifnancial services in the lending sector. We want to take our services to another level to give the users our platform the best possible experience by leveraging the power of blockchain technology and smart contract system to improve the peer-to-peer lending process.
Union first initiative is to put Collectively Investment Schemes, also known as trusted lending circle, or Rotating and Savings Credit Association (ROSCA) on blockchain. Collectively Investment Schemes is used around the world to lend and save money within communities, to support each other financially.
As the existing Collectively Investment Schemes work on silos within the separate communities, traditionally it is very hard to leverage the reputation and trust outside of one’s trusted circle. With Union social capital gained can be utilize across the platform, as the solution is decentralized, transparent, secure and auditable. This will help us in creating an ecosystem of financial products, which users can avail, based on their reputation.
The Union project aims to provide an alternative decentralized lending solution to individuals and small businesses with the use of the innovative blockchain technology. The Union Blockchain lending platform supports both Cryptocurrency and fiat money.
To create an e-democratic financial ecosystem for banked and unbanked individuals, on blockchain technology while making use of trusts, commitments, and social capital.
To improve the financial inclusion of the individual by leveraging the blockchain technology. We are going to do this by removing the inefficiencies in the existing system, and automating the different processes of lending and borrowing. Union will focus on developing portfolio of financial products that will use social capital and trusts of an individual.
Union Pool (Unl Pool)/Collective Investment Schemes
A decentralize platform for Collective Investment Schemes. Smart contract to automate saving and lending process amongst trusted friends.
Union Social Commitments (USC)
Individuals within the platform can create a commitment contracts, and upon successful completion of the contract, individuals can receive a positive score towards their social standing.
Union Lending Authentication (ULA)
Algorithm to calculate the social standing score based on various factors such as timely payment of previously participated Union Pool, fulfilled union social commitments, social media accounts, etc.
Union Advances (UA)
A smart contract to automate the entire process of bill discounting. Individuals discounting their own company’s bill or on behalf of the firm, will be able to leverage their social standing score in the Union to get a better borrowing terms, and discounts.
Token Name ~ UNION (UNI)
Max Number Of Tokens ~ 200,000,000
Token Sale Start Date ~ 01-05-2018
Token Sale End Date ~ 31-07-2018
Maximum Cap ~ $5,000,000
Token Rate (1 UNI) ~ $0.03125
Currencies Accepted ~ BTC, ETH, LTC
Minimum Contribution ~ 0.1 ETH
Contract Type ~ ERC20
Bonus Program ~ Yes
The Union (UNI) Token is a token on Ethereum platform. It is ERC-20 compliant, and follows widely adopted token implementation standards. Ethereum is a popular cryptocurrency and blockchain system based on the use of tokens, which can be bought, sold, or traded. The ERC-20 defines a common list of rules for all Ethereum tokens to follow to accurately predict how new tokens will function within the larger Ethereum system.
• Maximum number of 200,000,000 (100%) will be issued at any point in time
• Sending 1 Ether to Union account will create approx. 20,000 UNI
• UNI tokes will be transferred once the crowd sale is successfully complete
THE UNION TOKEN CROWDSALE SCHEDULE
The Token sale will be a 2-month (60 Days), starting 1st of May until 29th of June 2018 or when our targeted funding value of 5,000,000 USD is reached, whichever is the earlier.
Token Pre-Sale: There will also be a pre-sale of the UNI tokens before the said launch date, also know as Pre-Sale. People participating the Pre-sale will be entitled to specifics discounts in the form of additional discounts, as per the agreement. This will be a invitation only basis, however there will be minimum number of tokens need to be committed to be qualify for the pre-sale.
Schedule of the token sale is given below.
UNION TOKEN DISTRIBUTION
Eventually a steady state is reached where platform resources will be supported though the fees generated within the platform, a token is needed to secure necessary funding to development and support a robust platform.
• 160 Million Union coin will be sold to the participants on crowd sale
• 20 Million Union coin will be reserved for Union team
• 16 Million Union coin will be reserved for future marketing expenses
• 2 Million Union coin will be used to testing and bug bounties
• 2 Million Union coin will reserved for the initial investors
Pls visit our website and social medias below for more Informations:
Telegram: https://t.me / UNI_Token JN
Profil Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1904860