AZ Fundchain is a project that sets out to try and make crowdfunding decentralized monies easier for the regular start-up organization.
AZ Fundchain members group voluntarily together for a defined period, saving together within close circles. Honestly, the first time I heard the previous sentence, I thought it was just another fluff project and it really had no reason to exist. However I could not have been more wrong, this project seems useful in that it allows groups of people to save TOGETHER. This is to say that, 15 people could choose to give 20 USD equivalent value of an asset into a pool then provide each member 300 USD equivalent each rotation if done for 15 rotations.
Not only would this provide a method for an easier method of saving funds, but it would also function as a means of credit for unbanked people in areas lacking a substantial banking system.
“Crowdfunding and peer-to-peer lending is a multi-billion dollar market and this [AZ Fundchain] is the first step towards making this space more efficient and friendly.” – Abhinav Agarwal, CoinGape
We are always weary on ICO’s however this one seems to be interested in completing their tasks, and even state that each AZ Token will be offered to be bought back at a $1 USD valuation and burned. This buyback functionality is provided by the system of fees and delegating a portion of those fees towards token buybacks (Given the token is used, then a buyback is supported).
AZ Fundchain’s whitepaper discusses how the funds will be used, its plans for the future and how the mechanism of its token will be used to fuel the ecosystem.
“Also, as evidence that they are able to review the financial plan accurately, the setting of the soft cap and the hard cap is also based on the reality and necessity.” – Nozomu Nakazato, ICO Bench
Total supply of AZ Token: 30,000,000 AZ
AZ for sale: 39% (11,700,000 AZ)
Soft Cap : $5,000,000 USD
Hard Cap: $7,000,000 USD
began January 2019 and concluded on March 1st.
1 AZ Token = $0.50 USD
Minimum investment: $100
began on March 1st, 2019 and lasts 30 days
1 AZ Token = $0.63 USD
Minimum investment: $10
AZ Fundchain is a project that could simplify and organize a system of community savings and loan. This could even provide a banking system to those that are unbanked. With their team having provided a minimally viable product (MVP) previous to the launch of their ICO – it proves to the point that they could mean business.