Mary | Satoshi Club: Hello, Satosiclubbers! We are happy to announce our AMA session with Finminity😀@Raanngin @shaikhamdan welcome to Satoshi Club😀

Gold Rocket | Satoshi Club: Hello dear community! Our guests today are from Finminity. Welcome to Satoshi Club, @Raanngin @shaikhamdan!

Ron Lahiri I Founder Finminity: Hello All, Hi from Finminity Team. We are glad to be here and had been following up on the chats…

Shaik Hamdan: Hello, Thank you and look forward for a fruitful session

Gold Rocket | Satoshi Club: Thanks for joining.

Mary | Satoshi Club: Welcome, guys! Tell us more about yourself and your way you passed to start with Finminity)

Ron Lahiri I Founder Finminity: As a management consultant for 20 years working in PwC, IBM, Cognizant, and Atos and then being a serial entrepreneur and in Blockchain for the last 3 years, into VC and Angel Investing, I have seen both sides as an investor and entrepreneur. This knowledge has given me the belief that I am a problem solver who would like to take away the burden of disadvantaged entrepreneurs. The biggest problem for entrepreneurs is that Funding Gap in the 2nd and 3rd year and the real world VC and Angels only invest if you come from a specific background ( Ivy league. you are young :). We wanted to make venture financing decentralized, democratized, and open to normal investors through new generation de-fi technologies. This belief and passion have made me & Shaik (my co-founder) to build this venture Finminity.

Mary | Satoshi Club: So, you are co-founders of Finminity)  and yes, background really has big weight now and it is hard for small new projects to enter this space)

Gold Rocket | Satoshi Club: It’s amazing!

Ron Lahiri I Founder Finminity: The Crypto Investors has been the real crowd VC for so long, but they have got access to companies which has been a mixed bag. We want to change that.

We believe that Finminity can help a settler from Bangladesh with only brains or a Syrian refugee in the Netherlands asylum or middle-class eastern European tech grad with a great software but no money (better to say underdogs and dreamer) doesn’t die an entrepreneur’s death!

We have built something for them using a mix of Token (ICO/STO), DeFi, Crowdfunding, Compliance, Investor Risk Management – entrepreneurs who are in severe fund crunch after Covid. The entrepreneurs of the world need decentralization, DeFi, democratized venture finance. More so now.

Here is my profile — www.linkedin.com/in/raanngin/

Here is Shaik’s profile www.linkedin.com/in/hamdan/

We should pass all the DYOR checks as founders.

Mary | Satoshi Club: I like even the fact you’re not anonymous)))

But how decentralization lives with, for example, that you have names in the marketplace?) I think it is more mix of de and decentralization)

Ron Lahiri I Founder Finminity: And also just to let the community know, we have the only license in the Middle East who has token-based crowdfunding under the regulator Dubai Financial Services Authority (DFSA) and now we have Finminity for Europe. Note that as a business we are open to Utility and Security Tokens for the companies who want to raise funds. Just what we have done is that the best practices of Security Token have been taken and put as NFTs as additional tokens for voting, profit sharing for the investors even if they have sold the utility tokens of the company raising funds.

See why centralization was done because as Regulator could check everything – KYC, Fund Raise, Time period, value, Rules of Vesting – Now if that could be coded in Smart Contracts why do you need centralization. But what we need to is to understand the best practices of centralized process (checks and balances) and bring it in the decentralized world. If we have to stop rug pulls

Mary | Satoshi Club: That’s great👍

Yes, I understand) and stopping rug pulls is really very important as they are everywhere

Gold Rocket | Satoshi Club: it’s a lot of work.  do you have a big team?

Ron Lahiri I Founder Finminity: We have been building this for the last 1.5 years as we wanted to make it live and come to you guys with a ready product rather than saying that we will release and keep delaying it, what we see normally in the crypto world. You promise, take the money and deliver late or don’t deliver at all. This had made us build a team with fixed and floaters to help us with. The floaters are technical contractors and Business School Interns. We have 6 full-time persons and we have around 4-5 more floaters.

As we had been using our own money to build the application, test the markets, we had to do with a small team, build, check, build again..

Mary | Satoshi Club: Not bad, for those were using your own money)

Ron Lahiri I Founder Finminity: So our application Finminity. Finance is live with Token Generation Engine on Test Net running.We can handle ERC-20 and ERC-1404

https://www.finminity.finance

Mary | Satoshi Club: Great👍 Congrats) thank you for the intro and now are you ready for the questions from our community?)

Ron Lahiri I Founder Finminity: I just wanted to tell what our platform do before that

Mary | Satoshi Club: Of course))

Ron Lahiri I Founder Finminity: It’s a long list guys but we have made with our blood and sweat so that I as Investor is not conned by a company and I as a founder can raise money properly and not be on the whims and fancy of VCs

1. Companies can pitch to investors and associated pitch deck put in an easy to read manner
2. Companies can engage and talk to investors through Discussion module
3. Present their company in events that can be scheduled in the platform
4. Investors can build or be part of a community to talk in specific topics or companies
5. People can Invest through Fiat and Crypto
6. Have their Token Agreement (SAFT) signed through Ethereum signature automatically
7. See their portfolio
8. Investors get interested in their Investment as their funds are kept in client money contracts and given to companies when they achieve roadmap milestones. This is done by smart contracts so that rug pull doesn’t happen, and small investor money is safe, to the extent possible
9. Investors can vote for resolutions and get rewards for that.
10. Investors can rate companies and get rewards
11. P2P community marketplace like crypto local to sell within the platform without paying extra fees
12. Token generation event and allocation based on the tokens selected as per the regulatory approval of the companies (be it ERC 20 Utility Tokens or ERC 1404 Security Tokens) and the allocation and discount logic during the sale

Mary | Satoshi Club: Wow, so many features)

Amazing job, guys👍

Gold Rocket | Satoshi Club: This is a very large functionality.

Your users are very lucky!

Ron Lahiri I Founder Finminity: And it all live and we will be bringing great companies where crypto founders will make money and have some likeness for them, rather than a token which gave them 200% return. A company has a soul, it’s a living being.

Even if they have flipped the Utility coin, with the NFTs they hold and can sell later

We can move to the next topic. Thanks for accomodating us with these points.

Gold Rocket | Satoshi Club:  Great comparison! Sole of the company! You really love your job !!!!

We can proceed! 🚀👍

Mary | Satoshi Club: Soul is important) I have some questions regarding some of them, but I don’t want to cover questions from our community before they were asked😉

Gold Rocket | Satoshi Club: Thanks for the introduction, we will have a question selected for Part 1. ready to start?

Gold Rocket | Satoshi Club: Q1 from BTT user rolex745, Tg @konditer_rolex

Talking about yourself, you use the concept of Hybrid Finance (HyFi). As I understand it, this is a synthesis of decentralized finance and centralized. Tell us what you took for your project from these two market segments?

Ron Lahiri I Founder Finminity: Tough question and good you have read my Medium Article. Think it in this way

1. Finminity helps a company which has a proper use case driven utility token
2. Finmiity helps a company which has created a security token by pledging its assets

For both the usage was driven by FMT Tokens as fees, for voting, for staking, etc.

Now the company A being in the crypto world (and assuming its a good due diligence driven chosen company with KYB) its tokens remains in Crypto world and people swap it with use cases and get appreciation. The more crypto market becomes better, the more these tones appreciate.

Company B’s tokens are share driven and it is bought and sold through Security Token Exchanges and Market Place.

Now the Environments A and Environment B don’t become good at the same time. When the world goes into an economic downturn, environment B becomes bad and environment A works well.

As we have FMT tokens and business catering to both environments A & B, we get benefits and hedge our risks as a company and our tokens.

That’s why we are HyFi. It’s like a hovercraft.

Mary | Satoshi Club: It makes sense, btw your FMT token is security asset?)

Ron Lahiri I Founder Finminity: Nope FMT is Utility Token. The Platform runs on Utility Token but can cater to both the business needs.

Mary | Satoshi Club: Which role does it play in your project?

Ron Lahiri I Founder Finminity: We have a clear Tokenization use case within the platform otherwise the token value will depreciate. So these are the following use cases of FMT Tokens –

A.COMPANIES WHO ARE RAISING FUNDS will pay their fees through FMT Token for

*Onboarding to the Platform

*Token creation & associated smart contract configuration

*Dividend Distribution

*Putting Investor Resolution to Vote

1. INVESTORS WHO have TOKENS

* Gets early access to token offerings of the Platform

* Can do voting in the resolutions and earn more tokens given by the company for their work

* Receive Interest + Dividends

1. 3rd PARTIES and Ecosystem Partners

* Use FMT Tokens to create alternative products like Funds out of tokens

* In the P2P marketplace within Finminity, where these Tokens are traded, the commission or transaction fees can be paid by Finminity tokens.

Mary | Satoshi Club: Wasn’t you afraid to launch it in such an economic situation? As I understand you had two sales – FMT (your own token) and one more on your platform (currently running)?

Ron Lahiri I Founder Finminity: No, we believed our platform has clear differentiation. And we will get investors. And when the world is going through turmoil, the crypto market works well.

Yes, we have just closed our Finforce — Early Supporter Round and now starting on to Finstars — Round 1 through In App Offering form 16th October. We have only 300 members’ slot.