Introducing: Finminity

5 min readApr 5, 2021

DeFi has changed the way we look at finance, and it is going to change the way we look at crowdfunding too. While most would associate the idea of crowdfunding with Kickstarter, which, granted, is decentralized from a broad perspective, the concept itself has much room for true decentralization.

After all, aren’t the Kickstarters and Indiegogos of the world themselves representative of a centralized structure?

Plus, from both the investor and investee point of view, crowdfunding has always been a tedious process. There are very few crowdfunding platforms that are flexible in terms of raising funds across various blockchains while simultaneously incentivizing the investors with interest, dividend, and transparency without scamming them.

Raanngin Lahirih recognized this issue and founded Finminity. Here’s all you need to know:

What is Finminity?

Finminity is an Investment services platform for Startups and SMEs looking for crowdfunding, or tokenization, or both, for their protocol or product. This is possible with the help of blockchain’s distributed ledger technology and the utility token of Finminity (ticker: FMT).

In short — Finiminty is a new-age solution to fund raise in a regulatory compliant way, via tokens.

In the process, Finminity acts as a fund organization and services engine spanning the distance between the world of investors and investee powered by DeFi technology.

Driven by Polkadot, this cross-chain DeFi investment services platform & fundraising platform facilitates tokenization and issuance of funds through blockchain-based tokens; their services also include fundraising for startups & SMEs on the basis of valuation, crowdfunding, and much more.

Some of the key features of Finminity (from an investee point of view)

It allows for tokenization for easy ownership and liquidity, which is facilitated by the DeFi token engine that creates ERC-20 or ERC 1404 tokens.
There’s functionality for Asset Token Mapping and Book Building
It can create a Custodian Structure on Blockchain for Safety and Liquidity Locks.
After creating the tokens, projects can allocate these tokens to KYC’ed whitelisted investors based on the predetermined criteria.
There’s also functionality to sign and store the Investor Agreements in to make them tamper-proof and irrefutable.
There are several different investor-company engagement programs across social media to get to know each other better.
Importantly — there’s milestone based pass payment release for companies expecting of more than a million dollars to fund

Let’s see how this sounds on the other side of the aisle.

Some of the key features of Finminity (from an investor point of view)

Early access and preferential price for all token sales in Finminity before the public.
The Finminity community services are powered by Polkadot for Know Your Business (KYB), DAO, Staking, Voting, and Governance process.
The invested amount is not transferred to the company right away; holders will receive the interest earned by the escrow amount held by the custodian smart contract, which will be given as yield.
FMT investors can contribute to the ecosystem and governance of the company by voting and earning.
There’s oracle support for third party integration — allowing tokens to be packaged as investment products and sold to external investors.

Security

A natural question for many in the crowdfunding space is — how are funds being protected? How is authentic delivery being incentivised? At Finimity, here’s how:

KYC or AML is mandatory for both startups and SMEs expecting to go through crowdfunding via Finminity.
KYC/AML will apply to the investors depending upon the type of tokens investors are buying and the amount they are willing to contribute.
Company valuations are expected from auditors for STO issuances.
A company’s audited report will be put on the blockchain. The advantages here are obvious.
Smart contracts will be used for decentralization of the process and eliminating the need for a central authority.
Blockchain technology allows the execution of an automated and transparent platform, preventing any third party or intermediary from holding decision-making powers in terms of selection, vetting, or the approval of preferred actions.

The vision of Finminity

Finminity aims to solve the real-world capital needs of startups and SMEs via a decentralized and blockchain-driven ecosystem that is flexible and useful to both companies and investors.

The Finminity Team

In addition to CEO and Founder Raanngin Lahirih, the Finminity team boasts of experienced professionals in:

Shaik Hamdan (Middle East Marketing Head),
Avijit Samanta (CTO),
Sujitesh Das (Venture Partner & Busines Relations Officer)

Lester Lim (Strategic Advisor),
Michelle Nickelson (Crypto Advisor), and
Sameep Singhania (Blockchain Architect)

Investors & Backers

Our two cents

Public sales are one of the biggest challenges for both parties in terms of regulatory compliance, safety and security, and quite frankly — in the meeting of supply and demand. Finminity is trying to solve these challenges in a way that will help both investors and companies to grow together. There is a need for such a sophisticated platform in the current DeFi space where everyone is focusing on issues that have been addressed before; this is something new and exciting and will shoot up the crypto adaption.

To know more about this project, this is their website, and this is their whitepaper. You can also follow their Twitter, Telegram, Youtube and Instagram.