Definer — Research by Cryp2Gem

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DeFiner is a non-custodial, P2P network for digital savings, loans and payments.

“Since early 2018, DeFiner has been developing a Techstars-supported platform that re-creates cryptocurrency lending in a framework that brings the best of CeFi into DeFi:
*Non-custodial accounts that are auto-insured
*OTC marketplace for on-chain settlement of institutional borrowers
*Market aggregation to maximize lender yields while minimizing borrower costs”

DeFiner platform has an auto-insured account which is yield-optimized and connected to both retail and institutional lenders as well as borrowers.
DeFiner has a pool of lending funds and algorithms that automatically lend funds, that are not borrowed in its internal lending, to competing markets. The platform is powered by FIN tokens which are used for governance and voting as well as for distributing the profits for token holders, transaction fees and interest collected. Contributors lending capital and collateral on the network, lenders and borrowers are also entitled to a portion of the newly mined FIN.

The platform has integrated on-chain settlement of OTC loans and fixed-period, fixed-rate loans, as well as the savings pool.

They had an audit performed for code/smart contract with Taka Security, the other audit with Trail of Bits is ongoing.

DeFiner is in Microsoft Startups Accelerator Program. DeFiner has a working product. For the rest of 2020 (Q3 & Q4), DeFiner is planning to have DeFi Wallet Gemini Launch and DeFi Loan & Savings Mobile Launch. They are backed by Consensus Labs, Techstarts, LD Capital & Nex3, Spark Digital Capital, AlphaBit, SNZ and Signum Capital.

Techstars, one of the world’s top leading tech startup accelerators accepted Definer into their 2020 cohort in Abu Dhabi.

In August of 2019 Definer won the 2019 Detroit Fintech Challenge beating 17 other startups. “We are humbled and honoured to have received this distinction,” said Jason Wu.

“DeFiner provides liquidity, reduced lending fees, 24/7 on-demand loans, and reduced transaction time. To help do so, DeFiner has developed strategic partnerships with industry leaders in the blockchain and crypto sphere. Partners include Binance to track the value of cryptocurrencies, Kyber Network to allow users to seamlessly swap between tokens and Wyre for flexibility in converting between cryptocurrencies and cash.”

The team seems very experienced. The project was co-founded by 3 people.
Jason Wu is a Founder and a CTO. On his LinkedIn profile: “Jason Wu is an experienced blockchain architect, project manager and digital finance entrepreneur. Jason has quickly established himself as a subject matter expert and adviser to numerous organizations in the areas of token economics, smart contact integration and blockchain architecture. In 2018, Jason established lending platform to simplify the process of decentralized digital currency transactions. Jason holds a Master of Business with Honors from Ohio State University.”

Oussama El-Hilali, a Co-founder and Board Member. From his LinkedIn: “Seasoned executive with a passion for product development and a progressive career marked by the commercialization of innovative ideas and technology. Experience includes the development of product strategy and roadmaps, acquisition of new technology, business partnership, managing large global engineering organizations (600+ employees and a budget of $80+ mil.), offshoring, and organizational restructuring. Specialities include Leadership, Operations, Product Management, Business Development, Project Management, Offshoring.” Oussama has 20 years working experience, including working at Symantec, Carbonite, EMC, Arcserve. He had a vice president and director positions in engineering departments.

Chyna Qu is a Co-founder and a COO. “Chyna is an experienced entrepreneur and an advocate for women leadership. Chyna is experienced in coordinating different departments and teams to achieve complex and demanding goals by creating good technology and processes. Chyna is also a corporate leader that manages multiple key responsibilities including legal, human resources and data supporting. She has strong interpersonal skills which enable her to work with various people from both different levels and different backgrounds successfully.” She is working as a business analyst in Cummins Inc. since 2017. She got her Bachelor’s degree in 2016.

Token metrics and distribution dissection:

Token Type: ERC -20
Initial Circulation: 1,106,000 FIN ($663,600)
Total Supply: 42,000,000
Project Valuation: $25,200,000

Equity investors and seed sale: raised $470k (from NEX3, Blockchain Founders Fund and Techstars amongst others)
Private Sale A Price: $0.25
Private Sale A Lockup: 10% unlocked at TGE, remaining released in 3 quarterly cliffs of 30%
Private Sale A Raise: $315,000 (1,260,000 FIN)
Private Sale B Price: $0.4
Private Sale B Lockup: 20% unlocked at TGE, remaining released in monthly cliffs of 16%
Private Sale B Raise: $673,333 (1,683,333 FIN)
Private Sale C Price: $0.6
Private Sale C Lockup: 20% unlocked at TGE, remaining released in monthly cliffs of 16%
Private Sale C Raise: $250,000 (416,667 FIN)
Public Sale Price: $0.6
Public Sale Lockup: None
Public Sale Raise: $96,000 (160,000 FIN)
Public Sale Individual Cap: $300

Initial circ supply is small and initial mc only 660k. We have seen what happened with DeFi projects with initial mc around $0,5M. Many pumped even more than x10.
Private sale A had the best price at $0.25. They get 10% or 126k tokens day1. That would make $75,6k at public price $0,6. With x2,4 ROI. That is not a problem for late buyers and public investors.
The same goes for private sale B which will get 20% unlocked at the listing. At the public price, their unlocked tokens would be worth $200k. But only x1,5 ROI for them. With such a small initial market cap, private investors expect higher ROI.

Foundation (25% allocation all together) starts getting a bigger share of their tokens after 1 month, the same goes for partners and advisors (11,6% allocation all together). Team and equity investors have 20% tokens allocated and start getting first tokens after one year with 12 months vesting from there. I am interested in equity investors tokens allocation and price. This info is not disclosed.

All the info about token metrics and distribution can be found here.

The public sale dissection:

DeFiner will have 3 rounds for public sale, all with $0,6 token price. Public sale individual cap will be $300 and there will be no lock-up.

Round 1 is for a strategic partner is invite based and reserved for angel investors who commit to KPIs for adding a high degree of value to the project. 35,000 FIN ($21,000).
Round 2 is meant for strong holders offering (SHO) of OPT. The target token for DeFiner’s SHO is OpenPredict ($OPT). OPT’s liquidity providers and strongest holders can earn a DeFiner allocation. At 4 pm UTC on September 18, a lottery will be conducted. 100,000 FIN ($60,000).
Round 3 is for anyone who is interested in getting FIN allocation. Whitelist applications will go live at 12 pm UTC on September 19. This is not a race; you will have 48 hours. Applicants will have until 12 pm UTC on September 21 to fill-out the whitelist form. 25,000 FIN ($15,000).

I guess this will be really hard to enter as small hard caps reserved for both available public Rounds 2 and 3. Round 3 has only a $15k raise.

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