Azima:Token & P2P Lending App

Developers Cardano Projects
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My name is Segun, I’m a writer and DevOps Engineer from London. I would like to tell the Cardano community about my project.

Name: Azima
Ticker: AZM
Short Description: Token & P2P Lending App
Long Description: Azima is a cryptocurrency token and P2P lending app. I want to assist the banking industry by giving customers an alternative source of lending in my P2P model. I will offer fairer interest rates and allow both lending and borrowing to be staked making it appealing for both groups of people to use.
Website: https://azima.co.uk/
Telegram: Telegram: Join Group Chat

I’ve looked around but haven’t seen anyone offering something similar. Does anyone happen to know any similar companies doing this??

If you are interested in this project and would like to find out more please visit the website, the whitepaper can be downloaded and the tokenomics, roadmap, other token information is displayed.

I am looking for Cardano dev’s with Plutus/Marlowe experience to assist with a private token sale/IDO to begin with then to help with the actual app development. My intention is for this to be a decentralised app (d’app), i.e not hosted on Google play/ iStore but on IPFS. This is a very new project so I appreciate any help/pointers at this stage.

Kind Regards,

Segun

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It seems like you didnt add your own website instead you posted the link for the dev portal.

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thanks that should be fixed now

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Things coming to mind when looking at this:

Have you researched the legal side of things? Do you need a banking license for managing loans in fiat? Shall this be available only in the UK (since your examples are in £) or world-wide? If world-wide, how do you want to manage that? Do you have any experience in banking/finance?

The website should probably make clearer that this is work in progress and not started yet. Just having non-functional links for apps is not a nice way of finding that out. You may also want to remove the dummy text slider at the bottom and the social media buttons to your suspended Twitter account and non-existing accounts.

You cannot state that “Cardano” is a “partner“ of yours! “Cardano” is not an entity that can agree to partnerships, it is infrastructure, a network, where everybody can build on. The Cardano Foundation, IOG, or Emurgo could, but do you have agreements with them? Do you have agreements with the other entities you name under partners?

The 12% to 18% interest rate you give as examples(?) are not really good. The agreed overdraft of my bank account is less, let alone any consumer credit I could get. You might argue that this is for people not as privileged who do not have access to that, but do we really want to give them much worse conditions than the already banked get?

From a cursory look at website and whitepaper, it does not really become clear what the relationship between this loan business and the token is supposed to be. Your pitch deck says that the lenders don’t get anyrhing of the interest rates, but only Azima. Is it attractive for lenders then? Do you intend to buy the Azima on the open market?

Do borrowers have to buy Azima for their collateral? At one point you say that the collateral goes to the Lender if the loan is not paid back. At another point in the FAQ you state that you will pay them back fully and the loan transfers to you. That is all very unclear.

Also in the FAQ you state that if a loan is not paid back after several attempts you will finally sell/give it to a debt collector. While that might be necessary, it also sounds kind of scary and not so much better than traditional finance. …

So, just that were just the first thoughts from looking at your concept.

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Hello @Shegs84,I hope you are doing well.

Segun, We are a software development company, and Cardano is being used by our skilled blockchain developers. We have already built an NFT marketplace on Cardano Blockchain and are now creating Relay and Production nodes for one of our clients.

With our experience, we can complement your needs and assist you with the sale of tokens and subsequent development.

I Sent you a connection request on Linkedin also Here is my email, dhruval@stalwartinfo.com.

Looking forward to hearing from you.