Stox Launches FintruX ICO Prediction Market and Reveals Plans for Further Collaboration
Stox has entered another partnership with an ICO, FintruX, for its prediction markets platform, allowing the project to leverage Stox' wisdom of crowds approach.
Stox.com, the blockchain-powered prediction market platform has added a new prediction to its successful ICO predictions category with FintruX ICO, and revealed plans for a more enhanced cooperation in the future.
FintruX, which is an online platform to connect borrowers and lenders in a p2p environment, uses blockchain technology to cut out the middlemen and provide seamless and borderless cash-flow functionality to individuals and businesses.
The use of blockchain technology also allows the platform to automatically deploy smart contracts to secure every approved loan on the immutable network – thereby reducing risk and promoting lower interest rates.
Now, having partnered with Stox, FintruX will be able to leverage the wisdom of crowds and not only provide its community a way to engage with the project, but also contribute towards the platform’s reliability by participating in the credit worthiness evaluation for borrowers.
Commenting on the partnership, FintruX CMO and co-founder, Conrad Lin said:
“The synergy between the Stox platform and FintruX is a natural development, giving us even greater insight into borrowers’ risk profiling by sourcing the highly developed ‘wisdom of the crowd’ concept Stox has achieved.”
Having conducted its own ICO last year, Stox managed to raise 148k Ether tokens, and has been forging ahead with new partnerships and platform development. Recently the platform launched several ICO related prediction markets, including those for InsurePal, Sirin Labs and BlitzPredict, and received an overwhelming response from the community.
Moreover, the platform is also expecting its beta version release this month, which will enable the use of real STX tokens and also give users access to smart contract wallets.
With the ongoing drop in Bitcoin’s price, STX tokens have also suffered, coming down from over $0.60 on February 1, to the current price of $0.43. However, the price is still around mid-October levels from last year, and the coin could experience a surge as the market begins to recover.