AssetStream — Microfinance Powered by Blockchain
AssetStream is a P2P lending platform connecting lenders and borrowers. It is one of the most promising microfinance projects in Asia. The company is based in Thailand and started conceptualizing the project in 2017. The initial targeted market is Thailand, with Vietnam and Philippines coming next. The company already has branches in Estonia and Korea, too. Its operating licence and full address is provided. The trustworthiness and credibility are no doubts.
AssetStream has already provided the demo platform, which is fully working. Having the MVP ready at such an early stage is a huge plus, because potential users and investors can test and verify the quality of the platform beforehand. Actually, there are already borrowers present. All of them has passed credit rating assessment, so their risk profile is known.
You can lend to SMEs. Some of them require long-term lending above 60 days and and others short term lending below 60 days. There are 13 projects currently, that you can choose from.
The general perception this projects leaves is very strong and compelling. The branding, the design and the ways of communication suggest authority and confidence. For contrast, most ICOs bombard you with aggressive marketing techniques and branding. I am fascinated with the seamless experience on the website and platform.
The roadmap is very reasonable. Steady and sustained growth is planned for the next two years.
The only thing that surprises me, is that in high-tech Asia and heavy smartphone usage in the region, the mobile version is planned as late as 2020.
The website is professionally made with great design. AssetStream is a mass user targeted product, but it is in a serious field — finance. This is the reason the design and UX are not very flashy, but neat and serious.
All in all, the message AssetStream want to convey are very well supported by the website design and overall branding.
The whitepaper goes further in detail about the problems of the lending industry and the solutions AssetStream is providing. The ideas are supported by more graphs, tables and data, but it is not made overcomplicated.
The hard cap of the project is $21M which is a reasonable budget for such a platform. The token sale runs in 8 stages, with the highest discounts being 25%, which is on the low side, compared with other ICOs. This is a very healthy designed sale, because it will prevent whaling and speculation. There is a vesting period of one year for the team tokens. It is on the low side, but the product and platform are almost ready. The roadmap is not long in the future, so the short vesting period makes total sense.
At the time of writing 660M tokens out of 2.1B are already sold out, for $6.6M funding and we still have 6 more rounds to go. The crowdsale so far is being a huge success.
The platform operations are facilitated with the use of three different tokens — AST, ASD and ASTH. AST is the utility token. It is used for crowdfunding, entering and exiting the platform to exchanges. ASD is a stablecoin, pegged to the USD. And ASTH is used for the lending part in the local Thai market. AssetStream is not changing any fees for currency conversions.
The business model is quite popular for such platform. The company will generate income through fees. The higher the user base and the higher the loan amounts, the more demand there will be for the token. And with existing users, lenders and borrowers even before the official platform launch, it is proved that there is a demand.
The competition in the defi and lending sector is substantial. However, I believe that the timing this project launches is perfect. We are just after a severe bear market, which weeded out all the bad projects, which didn’t manage to survive with the running costs. The niche is opened and the next wave of crypto adoption is just behind the corner. The AssetStream team had the chance to witness the failure of the first wave of lending platforms like Bitconnect, select the good practices and stay away from the inefficient ones.
The whole defi sector is expected to be one of the main catalysts for mass crypto adoption in the coming years. So, the market positioning of AssetStream is just optimal.
The AssetStream project looks very solid in every aspect we looked at. This is one of the most promising ICOs in 2019. Hopefully, the ICO will be ended as it is planned, so the team can focus on delivering the platform and expanding it in numerous markets in Asia and the rest of the world.
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