Social Lending Network (SLN) is a decentralized global social finance platform based on blockchain technology.
The Social Lending Foundation will be committed to building a new financial lending ecosystem in the field of digital assets to solve the problems faced by traditional centralized institutions, respond to future digital economic financial behaviors, and serve the digital financial ecosystem. Social elements will also be introduced to allow community, public knowledge, and digital trust to play a greater role in the decentralized ecosystem.
The traditional Internet financial ecosystem faces the following important challenges in its development:
1. The crisis of trust in the centralized trading system. Centralized nodes play the role of credit intermediaries. Even banks themselves will have great credit risks. The actions of banks in the subprime mortgage crisis and certain opaque operations of P2P have brought great hidden dangers to the entire ecosystem.
2. The cost of fund management is high. The development costs, maintenance costs, and transaction costs of fund depository, third-party payment, and reconciliation are all very high. These complex links will undoubtedly increase the financing costs of the entire ecosystem, and are contrary to the original intention of inclusive finance.
3. Market operating costs are high. Currently, customer traffic in the Internet field has been monopolized by traditional Internet giants such as Google, Facebook, Alibaba, and Tencent. High traffic purchase fees and customer acquisition fees further increase the financing cost of the entire ecosystem.
4. Difficulty in global expansion. In the field of FIAT, the global expansion of Internet financial institutions will be subject to many constraints. There are great difficulties in everything from financial supervision to capital exchange. Every expansion of an overseas operation involves new business processes, and it is difficult to create synergy between operations in different countries and regions.
The blockchain cannot be tampered with, is open and transparent, and operates in a decentralized manner. These characteristics can be used to solve some problems of the traditional Internet financial ecosystem. The Social Lending Foundation will build a “target ecosystem” in the cryptocurrency space.
Such a decentralized financial lending infrastructure and ecosystem has the following advantages:
SLN will provide safe, convenient and modular services based on the underlying architecture of Ethereum. In addition, SLN will gradually launch a BaaS open platform to provide services for the entire digital asset financial lending ecosystem, including borrowers and lenders, network traffic owners, credit data service providers, risk control service providers, mortgage guarantee institutions, post-loan management institutions, asset management institutions, etc. Provide services and build a complete and reasonable open ecosystem.
In order to activate and serve this open ecosystem and complete the business closed loop. The SLN platform will provide the following modules and basic services:
1. SLN Dapp and decentralized digital wallet.
The SLN digital wallet will be integrated into SLN’s Dapp hive planet. SLN ecological participants can use SLN Dapp or directly develop their own Dapp to call all functions of the SLN platform through BaaS.
2. Core business module.
Carrying the main business logic in the decentralized financial lending ecosystem, such as lending logic, debt transfer logic, mortgage, delivery, etc. The core functions of this module are encapsulated in smart contracts based on Ethereum. The core business module of SLN will include at least the following business logic, and will gradually expand and derive:
(1) Credit lending logic.
(2) Mortgage lending logic.
(3) Financial management and investment business logic.
(4) Guaranteed lending logic.
(5) De-neutralize ABS business logic.
3. Identity authentication and authorization module.
Achieve the following capabilities:
(1) Decentralized encrypted storage cannot be obtained by the SLN platform itself.
(2) User data is mastered and controlled by the user himself, and can be authorized to be viewed by designated roles.
(3) The signature hash will be saved on the chain to ensure that the data will not be tampered with by others.
(4) Each credit data and the signature of the data provider are stored separately, providing a more flexible profit sharing method.
4. User relationship network
The user relationship network will record:
? Relationships between people and their attributes
? Attribution relationships and attributes between people and communities
? Relationships and attributes between communities
? Network graph of n-degree relationships between users
5. Distributed data storage.
6.SLN Oracle interface.
In order to maintain information interaction with traditional centralized nodes or other external nodes, SLN will introduce Oracle interfaces to complete this task. For example, read digital asset prices through Oracle; obtain external risk control tools and data; access external operation instructions, etc.
7. Community DAO module.
As a member of the SLN ecological DAO organization, the SLN project team will assist the SLN ecology to continuously maintain and upgrade itself according to the actual situation, and adapt to its surrounding environment through continuous self-improvement. Technically and other aspects to provide support. For example, if the SLN community decentralizes credit scoring and agrees on the penalty rules for false information, then the SLN community DAO module will establish and execute these rules in the form of smart contracts.
Anyone, any organization, and any institution can participate in the construction of the Social Lending Network decentralized financial lending ecosystem based on their own resources and services, and obtain Tokens based on their contributions and consume them according to the rules Token.
Social Lending Foundation will introduce the ERC20 standard Tokenn based on Ethereum, Social Lending Token (SLT), to realize value transfer in the entire decentralized financial lending ecosystem.
SLN open platform and ecological participants pay or collect SLT by purchasing and providing services within the ecosystem.
These services include but are not limited to:
(1) Transaction Service Fee (Transaction Gas)
(2) Information Service Fee (Information Gas)
( 3) Bonding Service Gas
In addition, SLT can provide cross-border, cross-currency, and cross-scenario financial lending services for different countries, regions, and economies, breaking the original There are barriers to financial lending services, which promote and enhance the financial lending ecosystem on a global scale.
Based on the properties of GAS, platform users can choose to pay more SLT to obtain better services, and the nodes participating in the service are also willing to provide faster and better services.
In addition, Social Lending will preset a total issuance quantity of 10 SLT as an incentive fund and make the following two main institutional arrangements:
(1) Ecological expansion incentives: encourage more Partners, join and participate in the SLN decentralized financial lending ecosystem.
(2) Ecological activation incentives: Encourage users to conduct business in the ecosystem and promote the ecological closed loop to form a positive spiral.
The total issuance of SLT is 1 billion, and the specific distribution is as follows:
CEO: Henry Yang
Peking University International BiMBA, New York Fordham University Master of International Finance MSGF, Shandong MBA from Vlerick Business School of KU Leuven University, Nasdaq scholarship winner, with many years of experience in the TMT industry and investment field. He founded the white-collar mutual aid platform Aipinbao, served as the CEO of PAG Auto Finance Lemi Financial Services, and the founder of Infobird Data. Since 2015, he has started research on the cross-application of blockchain, intelligent risk control, and technology finance. In 2017, he joined Yunfeng Technology as the VP of Marketing and Strategic Cooperation.
CTO: Jason Gu
Bachelor’s degree in computer science from Beijing Institute of Technology and master’s degree in software engineering from University of Macau. He has worked in technical management positions in Siemens, Motorola, Baidu and other companies. One of the main architects of Baidu Cloud OS system. Started researching and participating in blockchain projects in 2014. Joined Yunfeng Technology in 2017 and served as VP of Product and Technology.
CDO: Charles Wei
Bachelor's degree in automatic control from Xi'an Jiaotong University, master's degree in automatic control from the Ministry of Aerospace. Served as senior researcher at Lucent Bell Labs; software architect for Motorola mobile communications; R&D director of BlackBerry China; multiple entrepreneurial experiences in the Internet and financial technology fields; extensive research in the fields of underlying communication protocols, network security, data algorithms, and blockchain Development experience.
The Social Lending project team is mature and stable, with a R&D and operation team of nearly 100 people. The market channels cover the whole country. The core members come from well-known enterprises such as Alibaba, NetEase, Baidu, Ping An Bank, Minsheng Bank, and CreditEase. Extremely strong combat effectiveness and truly capable of commercial implementation.
The project work is also in full swing, and the roadmap is as follows:
The Social Lending project team will face various innovations and opportunities with an open mind. From business to technology, we continue to invest in the following strategic directions:
1. Internationalization
2. Open technology platform
3. AI empowerment
In general, Social Lending’s speed of business implementation, platform openness and community operation are its advantages, and the quality and quantity of the team cannot be underestimated.