Introducing: Egoras IDO
The N3RDz team is excited to announce the latest IDO launching on the N3RDstarter Launchpad.
If you just want the quick and dirty version, 📄 check out this pitch deck explainer from the Egoras team, or read about the team’s work 📄 in this article from CoinTelegraph. For those of you that want more details, read onwards!
The Egoras team is packed with experienced blockchain entrepreneurs, and advisers. Ugoji Harry, the founder and CEO, is an entrepreneur who has previously co-founded two companies and has made it his life’s mission to use technology to solve some of the world’s biggest problems, including a focus on inequality and development.
Isdore Ozuol, the co-founder of Egoras, acquired an LLM degree with Distinction from the University of Kent, United Kingdom, and oversees legal research for the project.
Overseeing financial operations, Chijioke Nwankwo has more than 20 years of experience in accounting and finance, including as a lecturer and working at banks.
Check out the team page if you want to know more about the stellar team behind Egoras.
The Egoras team has a licensed business already operating and has a working product. Egoras’ lending programs have already been deployed to entrepreneurs across Nigeria, and the team is planning to expand their operations globally to other countries as the project grows. Their ambitions are to build a global blockchain project that can deliver on the promise to make financial tools accessible to all.
Microfinance involves making real-world loans for people who would otherwise be left out of financial markets, especially in developing countries. This has been a huge topic in financial literature since the 1970s, and has grown into a massive and economically productive segment of the world’s financial infrastructure.
By breaking down the barriers between credit facilities and businesses, this is truly an example of democratizing finance and investment opportunities. Notably, microfinance is a segment that is projected to reach $313.7 billion in the next four years, with an estimated 600 million people having already benefited from microfinance. In Africa, microfinance institutions are showing annual returns in excess of 20% indicating a strong expectation for future demand for Egoras.
Token Use Case Explained
Not only do Egoras token holders have the privilege of participating in project governance, including loan approvals, but also are entitled to interest proceeds from loans. That means that Egoras token holders are able to receive dividends from lending in addition to price appreciation.
When a borrower pays back the loan to microfinance banks, NGOs, or to any Egoras lending partner, the cash is converted to EUSD and used to buy back on Egoras microfinance protocol and the EUSD which is paid back will be destroyed and removed from circulation forever. The interest received from the loan will be deposited on the Egoras treasury and distributed among Egoras holders.
Egoras holders approve or decline any loan within 72hrs of such loan request. In other words, the governance process to approve or decline any loan takes up to 72hrs. All necessary data is provided for Egoras holders to make the best governance decisions and the votes are determined by the voting weight (vote weight is determined by the amount of Egoras token locked in the governance process).
The Egoras team has prepared a comprehensive documentation of their protocol and the plans for development — give it a thorough read.
🚀 Launch Details
Egoras has been audited by Certik and has already received extensive media coverage, including from Yahoo Finance! The project is one of the first in a new wave of projects that seek to blend together lending products from traditional finance with defi, including uncollateralized lending projects like TrueFi.
Launching with the N3RDz launchpad gives the N3RDz community a huge opportunity with a well-established and functioning project on the next IDO. We are working with the Egoras team on the final details, and have confirmed that N3RDz stakers & farmers will have access to the Series A of the Private Sale. (Token metrics). We will be announcing further details about the massive collaboration with other launchpads for the private and public sale. The new website and launchpad will make it easier than ever to join, so go get your N3RDz and get ready for launch!
🔗 EGORAS LINKS
🖥️ Website: egoras.com
🗣️ Egoras official Telegram group: https://t.me/egorasmarket
🐦 Egoras Twitter: https://twitter.com/nerdfinance1?s=20
👍Egoras Facebook: https://web.facebook.com/egorasmarket/
📺 Egoras Youtube: https://www.youtube.com/channel/UCHfi5EwXig46xp5Dx8hVBHQ
🔗 N3RD LINKS
🖥️ Website: N3RD.finance
📄 Guide: How to stake N3RDz?
📢 N3RD announcements channel: https://t.me/nerdannouncements
🗣️ N3RD official Telegram group: https://t.me/nerdfinance
🐦 N3RD Twitter: https://twitter.com/nerdfinance1?s=20