SmartFi, the open lending crypto platform, which went live in July 2021, has secured more than $10 million in capital in the first 2 weeks of its “unique” SmartCycle token sale.
Token purchasers buying more than $1 million in SmartFi’s SMTF tokens apiece reportedly include Blockfills and a consortium from the software development team behind the Komodo Platform.
As mentioned in a release shared with Crowdfund Insider, the first 8m SmartFi Tokens “sold out in 24 hours at a price of $.70.” The current price is $1.29, which is “an 85% price increase via the SmartCycle model.”
The update further noted that SmartCycle is “a unique index which charts the release of SmartFi tokens to fund loan demand; the more loan demand, the higher the price of the token.” Under existing loan demand, the index “forecasts a token price of $8.14, an increase of 575% from the current price.”
As mentioned in the release:
“Because of the new unique financial model, SmartFi is able to provide a 100% buy-back guarantee of the original purchase protecting SmartFi token buyers; the same feature also enables the SmartFi token to resist bear market downturns.”