Press Release

Traxia Foundation the decentralized marketplace : CurrencyTimes

CurrencyTimes: Traxia Foundation the decentralized marketplace that helps SMEs to finance their production cycle by using invoices as collateral to short term loans offered by accounts receivable announces that it reduced it’s hard cap from $41.4 million USD to $15.1 million USD. Such reduction is due to the partnership established with Quark Finance in which the later will take care of the Warehousing facility initially described in the Traxia whitepaper budgeted at $26 million USD.

The warehousing facility

As described in the Traxia Whitepaper, the Warehousing facility Loan Warehousing is the initial process of acquiring debt from various sources, as an example, a bank or similar institution providing funds to a borrower without using the bank’s own capital. In the Traxia ecosystem, debts that arise from B2B trade transactions that do not “find” an immediate Liquidity Provider are warehoused. Our technology provider LiqEase managed to acquire a strategic partner (Quark Finance) to do exactly that especially for China but also abroad.

Partnership with Quark Finance

Quark Finance is a leading Chinese financial services company focused on consumer finance and risk management. Its principle business segments are personal and small business loans, point-of-sale installments, and auto finance. The headquarters is in Shanghai and Quark’s businesses cover all major cities in Mainland China. Quark was named in 2016 to the directorship of the National Internet Finance Association of China and also selected as one of KPMG China’s Top 50 financial technology companies at the same year. For more information, please visit www.quarkfinance.com.

The Traxia Foundation and Quark finance partnership for the funding of next projects allows Traxia to not have to raise funds for a situation in which Quark Finance has already the necessary funds available for similar operations. Traxia will now focusing exclusively in developing the new versions of its platform plus the onboarding of new clients.

Traxia’s New Hard Cap

The Traxia foundation will reduce its´ hard cap from $41,400,000 USD to 15,100,000 USD due to the partnership with Quark Finance. As you could see on pag. our white paper the warehousing facility was calculated at 26,000,000 USD.
With this decision, its previous valuation of $150,000,000 USD (1 billion tokens) can now be reduced to $55,000,000 USD which leaves value on the table for the investors of Traxia Membership Token (TMT).

The Foundation board, also believes that this will make it easier for the Traxia Membership Token (TMT) to be listed on more exchanges due to the fact that “we prefer projects between $5,000,000 to $20,000,000 USD” Changpeng ” CZ” Zhao, head of Binance at the Blockchain Revolution Conference in the beginning of this year.

New token Price

The new TMT price will be reduced to $0.055 USD (previously $0.15 USD) which means that with the same investment amount, the previous investors will now have a bigger slice of the pie.
All the discounts previously given will be maintained in the same proportion e.g. a person that bought 1 TMT in April 5th with 20% discount at $0.12 USD will now have 3.4 TMT (with the same $0.12 USD worth of investment multiplied by a factor of 2.7272 reflecting the new price).

This will bring several advantages to the project, namely:
1. Easier for the TMT to be listed on more exchanges.
2. The TMT ICO price will now be $0.055 USD (previously $0.15 USD).
3. The people who already contributed will now have a 2.727x more TMT.

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